Bharat Founders Fund, a VC fund floated by a group of over 70 Indian entrepreneurs, has invested $4.5 million (around Rs 37 crore) in over 45 early-stage startups so far in 2022.
Launched in March 2022, Bharat Founders Fund has backed 45 startups across edtech, fintech, software-as-a-service (SaaS), healthtech, e-commerce and Web3 in their angel and seed funding rounds, with an average ticket size of $100,000. The fund aims to double down its portfolio next year.
Bharat Founders Fund
The Bharat Founders Fund (BFF) is an early-stage venture group of successful Indian entrepreneurs globally. It comprises a clutch of over 70 growth-stage startup founders.
These founders include Vamsi Krishna (Vedantu), Dhruv Dhanraj Bahl (COO, BharatPe), Rahul Chaudhary and Sidharth Gupta (Co-founder, Treebo), Gazal Kalra (Rivigo), Vidit Aatrey and Sanjeev Barnwal (Meesho), Vikram Chopra (Cars24), Smita Deorah and Sumeet Mehta (Lead School), and Saurabh Garg (NoBroker), among others.
Speaking about the development, Maanav Sagar, co-manager at Bharat Founders Fund, said,
“BFF has reduced friction for founders to access successful founders. In the formative stage of a startup, getting task-relevant and timely advice from experienced founders can determine the slope of a startup’s trajectory.”
Along with the initial investment, Bharat Founders Fund aims to provide founders with insights and access to a valuable network to help them fastrack their product development and go-to-market. Startups backed by Bharat Founders Fund include Skillbee, AdmitKard, Blissclub, Basic, Mokobara, and Crypso, among others.
In the coming years, the firm targets to invest in another 50-80 companies, along with helping such firms with resources, mentoring and guidance, and a networking platform to help founders in the first 12-24 months.
VC firms faced a funding crunch in 2022, leading them to reduce their bets on the Indian startup ecosystem. In 2022, until the end of November, Venture capital investments by size fell about 34% to $23.2 billion from $35.4 billion in the same period the previous year. Additionally, vc firms closed 1,075 deals in India, compared with 1,212 transactions in the same period the previous year.
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