SPVH Group’s venture capital (VC), Weave Capital has launched a multi-stage VC fund of $75 Mn with an aim to participate in lead investments in startups at multi-stage round.
Weave Capital is a sector-agnostic fund with an inclination to fund technology-enabled businesses. Aiming for its first close of $20 million, the fund will provide a check between $1 million and $5 million at various stages of the portfolio company.
Weave Capital aims to build a portfolio of 15 to 20 startups with an average ticket size of $3 million to $3.5 million. It will start deploying capital after the first closure.
Further, the Weave firm has already filed Category II Alternative Investment Fund (AIF) registration for the fund and is currently awaiting approval from the Securities and Exchange Board of India (SEBI).
“Weave is the culmination of our insights and broad knowledge of the start-up ecosystem. Our team at Weave has led diverse and cross-sector transaction and development advisory engagements both in India and abroad. We now intend to step into the new shoes of Venture Investing and elevate our position” said Karan Gupta, Managing Partner, Weave Capital.
Karan Gupta claimed, that Weave Capital’s team comes from diverse backgrounds and has experience in large transaction advisory that further helps its portfolio startups when working together. It is also actively onboarding new team members across different levels.
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