ValleyNXT Ventures Launches ₹400 Cr Fund To Back Deeptech Startups
VC firm ValleyNXT Ventures has launched its maiden fund with a target corpus of ₹200 Cr (about $22 Mn) and a greenshoe option of ₹200 Cr to back early-stage deeptech startups.
The Bharat Breakthrough Fund-I is a SEBI-registered Category I VC fund.
The fund said that it would invest ₹100 Cr to ₹120 Cr in 25-30 startups with an average ticket size of ₹4 Cr in the first phase, followed by ₹50 Cr to ₹80 Cr investment in five to eight startups with an average ticket size of ₹10 Cr.
ValleyNXT claimed that its maiden fund is designed to operate under a “VC + Accelerator model”, powered by its mentorship, investment and network.
A ValleyNXT spokesperson told Inc42 that each startup will go through a nine-month accelerator programme, with each cohort hosting up to 10 startups.The firm counts AV Capital founder Anvita Varshney, Aether Industries independent director Arun Kanodiya, Moglix founder Rahul Garg, and Droom founder Sandeep Aggarwal among the mentors for its accelerator programme.
Founded in 2021 by Madhu Vasepalli, Nikhil Agarwal, Anand Saklecha and Suresh Goyal, ValleyNXT has backed more than 10 startups so far, including Cloudworx Studio, The Theatre Project, Swaaha, and more.