Merak Ventures launches a $100 million debut fund to back early-stage startups

According to Manu Rikhye and Sheetal Bahl, creators of the sector-agnostic, early-stage venture capital (VC) firm, Merak Ventures is raising its first fund with a target corpus of $100 million. In the next three to four years, the fund will invest in 18 to 20 firms. Merak will provide seed funding to business-to-business (B2B) and emerging technology startups to assist them in building sustainable businesses that use technology to solve real problems and have a large-scale effect.

Despite its sector independence, the fund will prioritize climate tech (agritech, mobility, carbon, digital solutions, and climate financing), insurtech, and enterprise SaaS (software-as-a-service) firms. “There are passionate founders who want to tackle real-world problems, and we want to empower them not just financially, but also as a mentor partner.” “We are confident that enterprises that tackle genuine problems will always be a good investment,” said Rikhye, Merak partner.

Rikhye and Bahl, who previously ran growX Ventures’ $25 million early-stage fund, will continue to oversee Fund I operations. The growX brand is independent, and Rikhye and Bahl have no involvement. Cynlr, Pixxel, and Progcap were among the 16 firms that received funding from the growX fund.

Merak launches a $100 million debut fund

Merak expects to close its first fund by the end of the year. “For the first time, we hope to raise one-fourth to one-third of the corpus.” “The first group of investors for the first close will be existing investors, and then we will approach institutional investors, both global and domestic,” Rikhye said, adding that climate tech is a significant investment issue on which the fund would focus.

According to Bahl, Merak is interested in investing in electric vehicles, batteries, carbon, and digital solutions, including climate finance. “Merak is the result of a decade of thinking, learning, and investing in India’s startup ecosystem.” It embodies a firm view that financial gain and influence, whether on the industry, people, or the environment, are not mutually exclusive. And it is built on our passions—B2B and emerging technologies—and our values: boldness, empathy, and fun. “

Merak Ventures seems to be a fascinating startup with a motivating turn of events on venture capital and private equity principals platform. My best wishes to the entire team. This will give them a huge accomplishment in the future.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.