Early Stage VC Firm 3one4 Capital Closes Its Fourth Fund At $200 Mn

Early-stage venture capital firm 3one4 Capital has closed its fourth early-stage fund at $200 million (Rs 1,600 crore).

The fund, the sixth overall, was oversubscribed within 2.5 months after the raise process began. Bengaluru-based 3one4 Capital invests in consumer internet, SaaS (software as a service), fintech, and enterprise and SMB digitisation. It is also increasing investments in newer areas such as digital health and climate technology.

"We will double down on India-specific businesses, given our lessons from market leaders such as Licious, WeRize, and KukuFM, and will remain bullish on India's consumption patterns,” said Anurag Ramdasan, partner at 3one4 Capital. “We also plan to continue deploying more capital into cross-border SaaS investments, given our positive experience partnering with leaders like DarwinBox, BetterPlace, and others.”

The company said that despite market challenges, leading global and Indian investors have confidence in its strategy of investing in Fund IV as limited partners (LPs). Investors include India’s three systemically important banks (State Bank of India, ICICI Bank, and HDFC Bank), five of India’s largest listed banks by market cap and eight of India’s leading mutual fund operators. Other investors include US university endowments, global sovereign funds, global corporations & insurance companies, India’s leading corporations, and a selection of India’s largest family offices. Fund IV is 90 per cent institutional in its investor base.