Weave Capital Launches $75 Mn Fund For Tech Startups in Early Stage Startups

The total of $75 Mn also comprises the green shoe option, which is $25 million

Weave Capital aims to build an investment portfolio that includes fifteen to twenty startups that have the average size of $3 million to $3.5 Mn

Weave Capital is a sector-agnostic fund with a preference to invest in technology-driven businesses

SPVH’s Venture Capital (VC) subsidiary Weave Capital has launched a multi-stage VC fund in the amount of $75 million with the aim to lead and participate in companies that raise capital beyond the seed round up to series B rounds.

The total value of $75 Mn also comprises an option to buy a green shoe for $25 million

Weave Capital is a sector-agnostic fund that has a tendency to invest in technology-enabled companies. The goal is to close its first round at $20 million The fund will issue to a check of $1 million to $5 Mn for different phases of the portfolio company.

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Weave Capital aims to build an investment portfolio that includes fifteen to twenty startups that have an average size ticket of $3 million to $3.5 Mn. It will begin to deploy capital following the close of the first round.

Additionally that, the VC company has already registered a Category II Alternative Investment Fund (AIF) registration for the fund, and is awaiting confirmation from Securities and Exchange Board of India (SEBI).

Our staff at Weave has managed a range of cross-sector transactions as well as growth advisory assignments both in India and abroad, Weave Capital Managing Partner Karan Gupta said. Our intention is to establish a foothold and elevate our standing in the world of venture capital.

Weave Capital claims to offer its portfolio startups an integrated network that includes operational, technical and business mentorship as well as strategic.

Commenting on the launch of the fund, Sujay Prakash, General Partner at Weave Capital and the Ultimate Beneficial Owner (UBO) of SPVH Group, said, Today the VCs are taking the initiative to create value and insight driven ecosystems. In addition, we have to break away from this typical concept of ‘IRR’ and exit’ and begin to ask the ‘why’ and ‘beyond’.

Based on the VC firm Weave Capital’s team is made up from different backgrounds and has extensive experience in large transactions that aids its portfolio startups work with each other. They are also in the process of welcoming new team members at various levels.

The team of the fund is prepared to find and develop a solid pipeline of transactions. It will also be keen to warehouse in the event of extraordinary occasions, Weave Capital said.

With the global economy under pressure from inflation and geopolitical tensions Indian startups’ undings during this second quarter fell by up to 42 percent to $6.8 Bn, down from $11.8 Bn in the first quarter, according to in an Newsexposer report. Overall, the amount of funds in the H1 2022 quarter also decreased to $19 billion, compared to $32 billion in H2 2021.

In addition, a dramatic drop was also evident in funding for late-stage projects, whereas the seed stage deals continued to draw investors.

There were numerous announcements of fund launches for startups that are in the beginning stages over the last few days.

The month before, Auxano Capital launched its $25 million Cat 1 Fund which will be investing in pre-Series, Seed, and Series A and Series B capital increases. LetsVenture’s co-founder Shanti Mohan has also launched the micro-VC fund Propell in March, which will invest 50 crore in 30 startups that are tech-enabled at an early stage.

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It was in the month of June that Fundamental VC launched its first fund, with a the goal of acquiring $130 million for investment in startups in the early stages of development across different sectors like consumers internet, SaaS, insurtech, healthtech, and many more.

In the study, Bain & Company declared that, even though there might be some changes in the quality and speed of deals, VC momentum in funding is expected to persist in Indian startups until the 2022-23 year and even beyond.

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