CapFort launches Rs 200 Cr early stage fund to back 40 startups

Micro-VC fund CapFort Ventures has launched a Rs 200 crore India-focused tech fund spearheaded by Abhimanyu Bisht, former CEO of Venture Catalysts, and Kavit Sutariya, founder of Hiraco Ventures and seasoned angel investor. 

With a focus on pre-Series A stage companies, the fund will invest in over 40 startups with a valuation within Rs 100 crore over the next two years, the firm said in a press release. The check size will range from Rs 2 crore to Rs 6 crore, with the average being Rs 3–3.5 crore.

As per the company, the first close of the fund is expected to take place by the end of the year and a green shoe option of Rs 100 crores is also available, in case of additional interest is received from investors. The CapFort team expects that the majority of its capital will be sourced from domestic investors, with participation from institutional investors, family offices, and ultra HNIs. 

Over the next two years, CapFort Ventures, a Category II AIF fund, aims to invest startups across key technology domains covering deeptech, cleantech, B2B tech, logistics, healthtech and other impact oriented sectors.  

In his previous stint, Kavit Sutariya headed the investment evaluation team of Venture Catalysts with over 72 investments across various sectors and stages of startups. Some of his key investments are Wellness Forever, Reshamandi, Chqbook, Melorra, Karkinos, Ketto, FarEye, Pidge, Posist, Zingbus and TrueMeds. On the other hand, Bisht spearheaded the fundraising of startups like Zingbus, AdOnMo, Basic Home Loan, Sheru, Hesa, ANS Commerce, Ethereal Machines, InShorts and Vidooly.