SphitiCap Launches Maiden Fund with Corpus Of $500 Mn
SphitiCap Launches its maiden Venture Fund with a total corpus of 500 million USD. The early-stage fund is supporting investments in enterprises that align with the tenets of sustainability, growth, and impact
SphitiCap an India-centered, early-stage sector agnostic fund that funds firms from the seed stage to Series A, leading to a funding size of USD 10 million announces the launch of its maiden Venture Fund with a total corpus of 500 million USD, which the firm is in the midst of closing.
The early-stage fund is supporting investments in enterprises that align with the tenets of sustainability, growth, and impact. It primarily invests in 10 sectors across India. The total corpus of the fund is 350 million aims to value sustainable profitable growth with a well-defined exit strategy.
It pioneers Indian businesses by embedding large-scale capital raise and investor confidence eco-systems seamlessly and powerfully.
The startup ecosystem in India is flourishing and one of the prime aspects of it remains the Venture Capital Firms or VCs. Statistics have shown that even the most brilliant startup ideas with a great team, fail in the early years of their operation due to the lack of sufficient funds.
“Funding is extremely crucial; once startups and small businesses have reached the growth stage, a significant amount of money is required to enable them to escalate further smoothly. Formerly, banks and other related sources were the only forms of funding available for small businesses and startups. Thanks to the evolution of angel investors and top venture capital firms in India like Sphiticap, startups have access to more reliable forms of funding. Sphiticap works with enterprises, startups, and individuals with early-stage investments, incubation, growth fund, and impact acceleration, “ said in release by the company.
Sphiticap has recently announced the Series A funding Round for ClearDekho – India’s leading affordable eyewear brand. Of the total USD 5 million raised, SphitiCap is infusing USD 2.3 Million (18 crores) and announced their second investment portfolio with a $11.5 Million Series A Funding in PayVEDA, a leading solution-oriented fin-tech player bridging the financial gap (banking and non-banking) in underserved regions of India.