Trillion Dollar Ventures, an early-stage focused micro venture capital firm, has launched a ₹50-crore fund that seeks to invest in the pre-seed and seed-stage startups.
The fund, the second from TDV partners, aims to back “innovative founders with a global outlook from Day 1” with an average ticket size of ₹1-2 crore per startup.
“We will invest in business models like platforms, marketplaces, and exchange businesses across various consumer tech (business-to-consumer) categories such as Spirituality Tech, Fintech, Gaming, Creator Economy, Social, and Consumer Upgrade,” said Ujwal Sutaria, Founder & General Partner, TDV Partners, in a statement.
Founded in 2021, TDV is one of the few funds in the country that focuses on new category-building segments like spiritual tech, the release added. The fund lifecycle has been kept between 5-7 years which is half of traditional fund life cycles that ranges from 10-12 years, thus returning capital faster to the investors.
“Our proven track record with the last fund has encouraged us to double the target corpus with the second fund and increase the average investment size too. With our first fund, we have provided an exit opportunity within 2 years of investing in the company,” he said.
“There are few pre-seed focused funds in India, creating a bottleneck for visionary founders to raise capital quickly. We want to fill this market gap and provide support, access and growth to startups in addition to capital infusion,” he added.
The VC firm is looking to make 10-12 investments a year.