WEH Ventures rolls out its second fund; eyes ₹100 cr corpus
Premium- The second fund plans to invest in 18-20 startups at an early stage and would seek to back them over multiple follow-on rounds
MUMBAI : WEH Ventures, an early-stage investor, on Tuesday, announced the launch of its second fund of a targeted corpus of ₹100 crore to continue backing startups that are focused on resolving various issues in India.
The Fund II is a successor to WEH Ventures’ maiden early stage fund launched in 2017. The firm used the fund to make investments in startups such as smallcase, Pratilipi, Trell and Animall.
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The second fund plans to invest in 18-20 startups at an early stage and would seek to back them over multiple follow-on rounds, WEH Ventures said in statement on Tuesday.
“WEH Ventures has been the first institutional investor in a majority of startups it has funded so far and it aims to maintain this approach. Investments are underway from the second fund in Unbox Robotics, a warehouse automation startup that uses plug and play swarm robotics to improve package sorting productivity. Other investments from Fund II include a DTC brand, a community-first app for Bharat and a gaming studio," according to the statement.
The fund is sector agnostic and invests in solutions that are built from scratch to solve issues, primarily targeting the Indian economy. “Spurred by the phenomenal success of our first fund, investors have reiterated their faith in us and we hope to continue to deliver compelling returns for them over a long period of time," said Deepak Gupta, founding partner at WEH Ventures.
The second fund has so far raised more than half its targeted corpus from CEOs and CXOs of major corporations in India and reputed family offices, the firm said.
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