An alternative investing platform-incorporated by Roots Ventures is on course to close its ₹200 crore maiden fund, cited yourstory. The firm will invest the funds in early-stage companies, especially startups in India.
Besides, the fund also has a ₹100-crore green shoe option that will allow it to raise additional capital if the fund is fully subscribed.
“We have already raised Rs 100 crore. We are in advance discussions with two fund of funds and a few family offices and expect to close the Rs 200-crore fund over the next 2-3 months. Paytm founder Vijay Shekhar Sharma is one of the anchor investors in our maiden fund,” Japan Vyas, founder of Roots Venture said.
Roots Ventures is a multi stage, sector agnostic investment house set up by a founding team with a successful track record and a history of working together across funds and business cycles.
The fund also counts Pravin Gandhi (Seedfund), Sandeep Kohli (ex-CEO of Yum International for the Indian subcontinent) and Kushal and Chaitanya Desai (Apar Industries) as other key investors, Vyas added.
Vyas further said that the anchor investors and partners have contributed 20 per cent to the targeted fund corpus.
“We are a category-2 AIF (alternative investment fund). We will invest in early-stage, growth and small, mid-listed investments. While we are sector-agnostic, we will have a bias towards consumer and consumer tech companies in our early-stage bucket.” he further added.
Vyas also stated that the fund will invest up to ₹6 crore in early-stage ventures, while growth-stage entities will get investments up to ₹25 crore.
The company has already closed six investments ranging across consumer products, consumer tech, and fintech, and is in the process of closing two more investments in the mobility and consumer space.
“Japan is one of the few investors I know who have had a successful track record for more than a decade picking winners across his funds and business cycles. He is also one of the early shareholders in Paytm when he invested in us from his first fund at IDFC. I am happy to be an investor in his alternative investing platform,” Vijay Shekhar Sharma, founder of Paytm said.