Venture capital firm 100X.VC said on Saturday it plans to invest 125 crore rupees (over $16.5 million) in 100 early-stage start-ups over the next 12 months.
The company said in a statement that it plans to invest the future 15% stake amount in each startup using iSAFE Notes. He added that it would be the “fastest deployment of early stage capital by any VC in India for early-stage start-ups.”
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Commenting on the announcement, 100X.VC Partner Ninad Karpe said, “We are excited to take the next big step in our commitment to becoming the finishing school for early career founders and funding 100 Moon Ideas. over the next 12 months. Beyond Capital, 100X provides invaluable mentorship and guidance to create exponential business models. There has never been a better time to invest in Indian start-ups and 100X will continue its efforts to provide credible deal flow to investors.
The company invested in 80 start-ups after evaluating more than 20,000 applications. Additionally, start-ups funded by 100X.VC have been able to raise over Rs 450 crore ($60 million) from various investors including growth venture capital funds, family offices, angel investors and venture capital companies.
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In this new model, seed applications will be reviewed, accepted, and invested on a rolling basis with no deadlines, the statement said.
Investments will be made via iSAFE Notes within two weeks of acceptance of start-up applications, he added.