VC firm 3one4 Capital announces closure of two new funds, worth Rs. 445 crore

Bengaluru-based 3one4 Capital has raised Rs 445 crore across two funds - Continuum I which is a dedicated opportunity fund has raised Rs. 400 crore and its second fund Capital Rising I, which is a dedicated seed fund has managed to raise Rs. 45 crore. Talking about the funds raised by the company, Pranav Pai, founder, and managing partner, 3one4 Capital, spoke about working with limited partners and its portfolio companies. 

In a statement, Pranav Pai said, "We are grateful to be working with a stellar set of Limited Partners (LPs). With large strategic and financial institutional investors entering the funds, we continue to have an excellent and intellectually-diverse set of minds who bring unparalleled advantages to the firm and its portfolio companies. The investors span multiple geographies and have synergetic interests in 3one4 Capital and its portfolio. These new LPs will explore co-investment opportunities in rounds raised by the portfolio companies and will work closely with the founding teams to help deploy and scale their value propositions globally."

About Continuum I

The first fund Continuum I, a 2019 vintage vehicle, had targeted Rs. 350 crore ($50 Million) and had announced its first closure in February 2019 for Rs.150 Crore. The Continuum fund was oversubscribed and has confirmed receiving Rs. 400 Crore ($56 Million) in commitments. 

Continuum I fund will aim at investing in a specific selection of opportunities from the 3one4 Capital portfolio, its target is to invest in the growth stages of these companies. Continuum I's aims to develop a strategic and long-term partnership with top-tier institutional pools of capital globally. The company's official website read, "‘Continuum I’ will focus on Series B+ rounds of companies from the 3one4 Capital portfolio with cheque sizes between USD 3 Mn to USD 5 Mn." 

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Rising I

The Rising I fund had targetted to achieve Rs. 25 crore ($3.5 Million) and reached its first close in December 2018. Like the first fund, Rising I stands oversubscribed at Rs. 45 crore ($ 6.5 million) in commitments towards final closure. The fund will work on focusing on investing in companies that are pursuing the markets at its initial level. 3one4 has also developed core sets of thesis in the area. The statement about the fund read, "The fund is purpose-built to provide founding teams with institutional rigor as they build out from Day One. Rising I will enter the idea stage and seed-stage companies with cheque sizes between Rs 50 Lakh to Rs. 3.5 crores ($100 thousand to $500 thousand)." 

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About 3one4 Capital

3one4 Capital is an early-stage venture capital firm based in Bengaluru. The company is currently working in select market categories and at the intersection of adjacencies that are large, growing, and ready for unique products and services. The key focus area includes machine-driven actionable intelligence services for the enterprise, enterprise automation, ambient intelligence technologies, consumer products, FinTech, media and multi-lingual content generation, and health. The company's investments are biased towards companies exploiting technology to create, grow, or dominate large markets in India. It also invests a portion of its earned capital in US-focused companies that have feedforward effects into the themes being pursued in India

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