Eternal Capital, founded and managed by former BharatPe COO Dhruv Dhanraj Bahl, has launched its maiden VC fund with a target corpus of Rs 120 crore ($14.5 million).
The fund also includes a greenshoe option of another Rs 120 crore, bringing its total capacity to Rs 240 crore ($29 million).
Eternal Capital received SEBI’s approval for a Category-I AIF in November 2023, and has already received commitments from marquee operators and entrepreneurs such as Suhail Sameer, Deep Kalra, Tarun Mathur, Vikas Gupta, Adarsh Menon, Nalin Negi, Sameer Chugh, and Saurabh Vashishtha, Kunal Suri and Amit Bagaria, among others.
The sector-agnostic fund aims to build a diversified portfolio of “solutions for the future”, and plans to invest in 40 startups in their seed to pre-series A stages, over the next three years.
As a former early-stage angel, Bahl has invested in more than 50 startups since 2020 by partnering with several prominent funds and angels. Some of his portfolio ventures include Stupa Sports Analytics, Basic Home Loans, ApniBus, Volt Money, DrinkPrime, AdmitKard, GenWise, Vama, and Fleek, among others.
Eternal Capital will prioritise investments in startups led by seasoned operators, which are at a post-PMF stage and can demonstrate profitable revenue potential in the mid to long term.
