National, July 12, 2023: CapFort Ventures, a uniquely crafted micro VC fund, has launched a Rs 200 Cr India-focused tech fund spearheaded by industry leaders Abhimanyu Bisht, the former CEO of Venture Catalysts, and Kavit Sutariya, the founder of Hiraco Ventures and seasoned angel investor. With a clear vision to support the growth of the Indian tech ecosystem, CapFort Ventures intends to invest in 40+ startups over the next two years.
With a steadfast commitment to fueling innovation and empowering the next generation of entrepreneurs, CapFort Ventures aims to identify and invest in promising tech startups that possess the potential to transform and reshape the Indian technological landscape. Bisht and Sutariya have cumulatively invested in over 200+ startups to date, and both will serve as the general partners of CapFort Ventures.
Commenting on the launch, Abhimanyu Bisht, General Partner, CapFort Ventures, said, “The introduction of our ₹200 crore India-focused tech fund is a strategic milestone for CapFort Ventures. At CapFort, we are forward-looking; our objective is to provide not only financial support but also invaluable guidance and mentorship to help entrepreneurs turn their visions into reality. We are confident in our ability to identify ground-breaking tech startups and guide them towards sustainable growth.”
Kavit Sutariya, General Partner, CapFort Ventures, said, “As the third-largest startup economy, India has demonstrated the potential to be a superpower in innovation and profitability. With the launch of our ₹200 crore tech-focused fund, we are excited to be part of this journey of skyrocketing growth and evolution. By investing in high-potential technology startups, we aim to help disruptive entrepreneurs push the envelope of technological innovation which drives India’s next decade of growth.”
Over the next two years, CapFort Ventures, a Category II AIF fund, aims to invest in 40 high-potential startups across key technology domains covering DeepTech, CleanTech, B2B Tech, Logistics, HealthTech, and other impact-oriented sectors. With a focus on pre-Series A stage companies, the fund will invest in companies with valuations within ₹100 crores. The first close of the fund is expected to take place by the end of the year. A green shoe option of ₹100 crores is also available, in case of additional interest is received from investors. The CapFort team expects that the majority of its capital will be sourced from domestic investors, with participation from institutional investors, family offices, and ultra HNIs. An interesting observation has been interest received from investors based in Tier 2 cities.
CapFort Ventures is the first fund in India to focus on the pre-Series A stage. The check size will range from ₹2 crores to ₹6 crores, with the average being ₹3–3.5 crores. CapFort is a technology-focused fund and will be investing in founders who are building technologies to solve Indian problems for the next decade. Notably, more than 90% of the companies Bisht and Sutariya have previously invested in are tech-based.
CapFort Ventures aims to proactively collaborate with its portfolio companies, providing founders with hands-on mentorship and leveraging their extensive network to assist startups in scaling and attaining sustainable growth. The team’s primary emphasis will be on nurturing the technological foundation of Indian startups.
CapFort’s uniqueness lies in its investment team. Unlike most venture capital funds, CapFort’s investment team has experience and expertise in both fund management and angel investments. To illustrate, Kavit Sutariya is one of India’s top super angel investors, being an active investor over the last decade. The third most active angel investor in India as per Tracxn, Sutariya has made 72+ investments across various sectors and stages of startups. His desire to help investors advance and be part of India’s exponential growth has helped in taking the plunge to be a fund manager. Some of his key investments are Wellness Forever, Reshamandi, Chqbook, Melorra, Karkinos, Ketto, Inc42, FarEye, Pidge, Posist, Zingbus and TrueMeds.
Conversely, Abhimanyu Bisht is the ex-CEO of Venture Catalysts, where he headed the investment evaluation team for the firm’s angel fund. Some of his prominent investments are Zingbus, AdOnMo, Basic Home Loan, Sheru, Hesa, ANS Commerce, Ethereal Machines, InShorts, and Vidooly. He has been working towards shaping the Indian startup ecosystem over the last 12 years while working at organizations such as Nasscom, LetsVenture, and Times Internet.