Posted by New Delhi: Merak Ventures, a sector-agnostic, early-stage venture capital (VC) firm announced its $100 million fund today. The VC fund aims to invest in 18-20 startups over the next three-four years.
Merak Ventures’ co-founders Manu Rikhye and Sheetal Bahl said their VC firm will invest in seed-stage B2B and emerging technologies companies creating sustainable business models and utilising new technologies to help solve real problems and create large-scale impact.
While the fund will remain sector-agnostic, some investment themes it will proactively chase include ClimateTech (encompassing agritech, mobility, carbon, climate finance, and digital solutions), insurtech, and enterprise SaaS.
“The genesis of Merak is our success and learning while managing a fund, and the sustained confidence of our investors. There are passionate founders who want to solve real world problems and we want to empower them, not just with capital but as a mentor-partner,” said Manu Rikhye, Partner – Merak Ventures.
“At Merak, we firmly believe businesses who solve authentic problems will always make for a sound investment. Merak means doing something with passion, undivided attention; a labour of love,” added Rikhye.
“Merak is the culmination of a decade of thinking, learning, and investing in the Indian startup ecosystem. It represents our strong belief that financial gains and impact, whether on the industry, people, or the planet, are not mutually exclusive. And it is built on the foundation of our passions – B2B and emerging technologies, and our values: boldness, empathy, fun, “ said Sheetal Bahl, Partner – Merak Ventures.
Merak’s founders are successful fund managers that have been investing in the Indian ecosystem for a decade now, of which the last six have been sharply focused on B2B and deep/ emerging tech.
growx Ventures Fund I, which they continue to manage, has had an exceptional portfolio of 16 investments including category creators and highly successful companies such as Cynlr, Pixxel, and Progcap.
The Delhi-NCR-based VC firm will also provide active support in strategy, business development, and fundraising by systematically utilizing broader networks of a portfolio, LPs, industry connects, and fund relationships to ultimately deliver more value for all stakeholders.