Premji Invest has joined the INR 600 crore fund, which was previously known as 021 Capital, as another limited partner. Xeed plans to invest amounts less than $1 million and hopes to make 20-25 investments from the fund. Approximately 70% of the fund’s capital has already been pooled, and it has begun making fresh investments.
Mithun Sacheti, the creator of CaratLane, and Binny Bansal, the cofounder of Flipkart, have joined Xeed Ventures, an early-stage fund led by Sailesh Tulshan, based in Bengaluru.
The INR 600 crore INR, earlier known as 021 Capital, had Premji Invest as one of the limited partners, as the Economic Times reports.
As members of the Xeed investments committee, Tulshan would form an integral part of it along with Bansal and Sacheti.
Xeed’s investment philosophy is to do a handful of investments below $1 million from the fund, with a target of 20-25 deals by the fund. It most certainly be targeting enterprise deals, big tech, and B2B with their pipelines too.
About 70% of its vehicles are usually ready for investment, and they have already been purchasing shares that have reached share prices that target their buying strategy. Bansal and Sacheti are the only two founders in the business and they have both fully invested their own money.
Xeed has already put their investment in the likes of Charcoal.inc, a consumer foods brand targeting the direct sales segment, and Kredit.pe, a financial services startup.
“021” was thought up in consideration with the concept of Thiel, who co-founded PayPal, and Thiel speaks about innovation and business in his best-seller among other things, “Zero to One” Our tent is made up of Brightchamps, Spotdraft, Increff, Superk, Nymble, Oro, Pandorum, and Bharatagri. One of them, 021, is our investing company.
It is interesting to point out that this takes place when there is a rise in the number of famous entrepreneurs that have either staked in or funded well-known venture capital funds. The current notable group of founders of early-stage funds with returns above or beyond the standard market benchmarks iincludes,but are not limited to, Nikhil Kamath of Zerodha (Gruhas) portfolio, Sujeet Kumar of Udaan (investors in Venture Insight), Kalyan Krishnamurthy, CEO of the Flipkart group (limited partners in Vespa Capital) and
Alongside this, Kamath from Zerodha also launched the WTF Fund for young entrepreneurs below the age of 22 through which they get funding and coaching for their business. The group will provide financial support and mentorship, for their beneficiaries are the youths who have ventured into the beauty, home, fashion, and leisure industries.
Kunal Bahl & Rohit Bansal of Snapdeal who are behind Titan Capital are also a set of fellow entrepreneurs who have ventured deep into venture capital investing as full-time investors.
In 2023, the startup ecosystem saw a shift in investor enthusiasm, with 64 new funds announced and created, including venture capital, micro-funds, and corporate VC funds, totaling more than $5.6 billion. This represented a considerable decline from the previous year’s 126 funds, which generated more than $18 billion for startup investments in 2022.
