ADVERTISEMENT

Sanjay Mehta’s 100X.VC to unveil first cohort of 100 startups

Sanjay Mehta’s 100X.VC to unveil first cohort of 100 startups
Team 100X.VC

Serial entrepreneur Sanjay Mehta’s venture capital firm 100X.VC will showcase its first cohort of 100 startups at VC pitch day in December at Indian Institute of Technology Powai, Mumbai. The event will see the companies pitching to an audience of marquee investors. 

The sector-agnostic fund invests between Rs 22 lakh and Rs 1 crore in seed-stage startups through India Simple Agreement for Future Equity (i-SAFE) notes. These notes, which are similar to Compulsorily Convertible Preference Shares (CCPS), comply with Indian laws and do not require the startup founders to share the pre and post-money valuation. 

Mehta’s VC firm was launched in July. The firm says startups in the first cohort were chosen from over 1,200 applications and operate in diverse areas — from fintech, quick service restaurants, consumer brands, healthcare commerce to artificial intelligence-driven business-to-business tech platforms. Post investment, 100X.VC also provides coaching, strategy consulting and mentorship.

“We are excited to showcase these brilliant minds, building companies having the potential of non-linear growth. I believe every invited investor will get more than one funding option which matches their investment thesis,” said Ninad Karpe, partner at 100X.VC in a statement.

Set up by Mehta’s family office, Mehta Ventures, 100X.VC is registered as a Category 1 Alternate Investment Fund with Securities and Exchanged Board of India (SEBI).

As an angel investor, Mehta has backed close to 130 companies such as food delivery platform Box8, hotel chain company OYO and logistics solution company LogiNext among others. 

Share this Post

Comment(s)

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT