India's first Fund to invest in 100 start-ups in a span of one year using iSAFE - India SAFE Notes, launched today. “iSAFE” stands for India Simple Agreement for Future Equity, an alternative to a convertible security note, that is beneficial for start-ups customized for India, iSAFE will avoid tedious documentation and cut timelines significantly.
100X.VC is a sector-agnostic fund and will focus its investments in companies across a broad range of industries. The investment thesis of 100X.VC will be to invest in start-ups having disruptive business models, high growth and scale. The investment size for each early-stage start-up would range from Rs. 2.5 million to 10 million.
Mr. Ninad Karpe, Ace Corporate Leader, who has joined 100X.VC as its partner said: “100X.VC is truly a game-changer. I am delighted to be part of this exciting journey of funding start-ups in India using a unique model. I hope to bring to bear my entire corporate experience to nurture and grow the startups we invest in”.
100X.VC aims to be the first institutional investor in its portfolio companies and will go beyond mere funding. 100.VC will open its network, expertise, and resources that will assist founders in crafting a scalable business model.
Mr. Sanjay Mehta, Founder, and Partner at 100X.VC said, "Time has now come for us in India to make a huge leap in investing in start-ups, using globally successful models which will lend depth and scale to the VC industry. When start-ups become part of the 100X.VC ecosystem, they will get all that they truly need. For us, investing in 100 start-ups over the next twelve months is just the beginning”.
Based in Mumbai, 100X.VC has received the final regulatory approvals for the category 1 - Alternate Investment Fund License and Investment Advisor License from the Securities & Exchange Board of India (SEBI) to commence its operations.