Early stage VC firm First Cheque to invest in 15-20 startups

Early-stage venture capital firm First Cheque has announced plans to invest in 15-20 startups over the next 18 months as part of its third cohort. 

The firm, which closed its second fund at ₹38 crore, aims to make pre-seed investments with an average first cheque size of up to $500,000.

Launched in 2018 under the India Quotient Venture Capital umbrella, First Cheque focuses on supporting direct-to-consumer (D2C) startups, particularly in categories that are underrepresented. 

The firm is specifically looking to invest in kids' brands, sports brands, white goods, and various Gen Z-oriented brands.

Notably, First Cheque had a successful exit last year from the D2C jewelry brand Giva, yielding a remarkable 75X return. To date, the Bengaluru-based firm has invested in over 130 startups, including well-known companies like Giva, SaaS startup Rocketlane, upskilling platform Seekho, fleet management service Fleetx, water supply startup DrinkPrime, and generative AI startup Simplismart.