Micro venture capital firm Volt VC launches Rs 45 crore inaugural fund
Volt VC, a micro venture capital (VC) firm, announced the launch of its inaugural fund on Wednesday.
The Volt VC Fund-1 aims to raise a corpus of Rs 45 crore to invest in around 20-25 consumer-centric startups at the pre-seed stage across various sectors, with a particular focus on direct-to-consumer (D2C), business-to-consumer (B2C), and business-to-business-to-consumer (B2B2C) models.
“In India, lately we have seen a good number of pre-seed and seed funds coming in, but several of them have ticket sizes of between Rs 4 crore and Rs 10 crore. However, many of these startups don’t have the appetite to take in that much money. So, there was a need for someone to enter with a smaller ticket for a smaller stake,” Param Patel, the general partner of the fund told ET.
“Being present in Gujarat locally, we foresee a lot of interest from Gujarat-based startups as their first go-to-destination for institutional funding,” he added.
Volt VC was founded by Patel, who previously led startup investments at Gujarat Venture Finance Limited (GVFL) and served as the chief investment officer and a founding fund team member at the asset tokenisation platform, Terazo.
The fund plans to write cheques ranging from Rs 50 lakh to Rs 2 crore, with investments pooled from ultra-high-net-worth individuals (UHNIs), entrepreneurs, and startup founders. The fund is expected to close within the next three to four months.
Patel also mentioned plans for follow-on investments in around five winner startups from the first fund as they progress
