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First Cheque Closes Its Second Fund At INR 38 Crore

2022-07-21
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First Cheque, an early-stage VC, launched its second fund to invest in 50 startups in the next 18 months. The fund, which used to operate as an AngelList syndicate and had invested in more than 100 startups in the past three years, has raised INR 38 crore from global investors for its second fund. The firm will focus on first-time founders and will invest $100,000 in each of its portfolio companies, which is essential for founders to get their business started from scratch.

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"We are looking to back aspirational founders with lesser emphasis on conventional prerequisites such as the educational pedigree, previous funding experience and conviction from other VCs. Our commitment is to foster a support system that can help our founders throughout their journey. It is a small step aligned with Narendra Modi's 'Startup India' initiative," said Prateek Agarwal, investment lead, First Cheque.

First Cheque is an active community of over 200 founders that offers real-time mentorship and solutions for the day-to-day problems that founders face. It has secured deals with more than 50 such enterprises, so far. The firm also plans to onboard undergraduate venture fellows, who will connect the fund with high-potential student startups from their respective colleges. First Cheque worked with more than 20 venture partners during its first fund and added 100 startups to its portfolio through the same, claimed by the company in a statement.

"After the US and China, India has the largest startup ecosystem and First Cheque is uniquely positioned to capture the pre-Seed opportunity here. The comprehensive program, the engaged founder community and the demo day will act as catalysts for first-time founders," said Anand Lunia, founding partner, India Quotient.

First Cheque is a Bengaluru-based pre-Seed stage VC firm. It is welcoming startups from mature sectors such as SaaS, edtech, HRtech and fintech, as well as the emerging ones, including spacetech, gaming, web3 and cleantech.

参考译文
第一张支票以3.8亿卢比关闭了其第二笔基金
早期风险投资公司First check推出了第二支基金,将在未来18个月内投资50家初创公司。该基金过去以AngelList财团的形式运作,在过去三年中投资了100多家初创公司,为其第二支基金从全球投资者那里筹集了3.8亿卢比。该公司将重点关注首次创业的创始人,并将向其投资的每一家公司投资10万美元,这对创始人从零开始创业至关重要。我们希望支持有抱负的创始人,不那么强调传统的先决条件,比如教育背景、以前的融资经验和其他风投的信念。我们的承诺是建立一个支持系统,可以帮助我们的创始人走过他们的旅程。这是与纳伦德拉·莫迪(Narendra modi)合作的一小步'倡议,& # 34;第一支票公司投资主管Prateek Agarwal说。First check是一个活跃的社区,拥有超过200名创始人,为创始人面临的日常问题提供实时指导和解决方案。迄今为止,该公司已与50多家此类企业达成交易。该公司还计划招募大学生创业研究员,他们将把该基金与各自学院的高潜力学生创业公司联系起来。First check在一份声明中称,在其第一只基金期间,该公司与20多家风险投资伙伴合作,并通过这只基金将100家初创公司加入了其投资组合。继美国和中国之后,印度拥有最大的创业生态系统,First check在这里占据了得天独厚的位置,可以抓住pre-Seed的机会。全面的项目、积极参与的创始人社区和演示日将成为首次创业者的催化剂,"印度商行创始合伙人阿南德·卢尼亚说。First check是一家位于班加罗尔的种子期前风险投资公司。它欢迎来自软件即服务(SaaS)、教育科技(edtech)、人力资源科技(HRtech)和金融科技等成熟领域的初创公司,以及太空科技、游戏、web3和清洁技术等新兴领域的初创公司。
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