Early-stage venture capital Fund, Veda VC, has successfully completed the first round of fundraising for its Rs 250 crore or $30 million fund. The fund has attracted investments from family offices and startup CXOs. Veda VC, a registered Category 1 AIF fund with SEBI, aims to invest between $250,000 and $1.25 million in technology and tech-enabled ventures in India. The fund will focus on startups in the consumer internet, SaaS, fintech, and deep tech sectors, with a particular emphasis on early-stage investments from seed to pre-Series A stages.

Veda VC was founded by Vasant Rao, Ashis Nayak, Avijeet Alagathi, and Venus Dhuria. The team at Veda is dedicated to investing in frontier technologies such as AI/ML, computer vision, and space tech. They have already invested in 46 startups, more than half of which have subsequently attracted investments from leading investors including Sequoia, Accel, Kalaari Capital, Mayfair, and 3one4 Capital.

Some notable companies in Veda’s portfolio include Dukaan, Elo Elo, One Impression, Even Health, Rigi, Growth School, and Agnikul. These startups operate in various sectors, showcasing the diversity of Veda’s investment strategy.

This development comes after another early-stage venture fund, pi Ventures, recently announced the final close of its $85 million fund, which focuses on AI and deeptech startups in sectors such as spacetech, biotech, blockchain, and material science.

Sources:
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– Definitions:
– Rs – Indian rupees
– $ – United States dollars
– AIF – Alternative Investment Fund
– SEBI – Securities and Exchange Board of India
– AI – Artificial Intelligence
– ML – Machine Learning
– SaaS – Software as a Service

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