India, May 20 -- Former 100X.VC partners Shashank Randev and Yagnesh Sanghrajka have together launched VC firm 247VC and unveiled its first fund with a target corpus of INR 250 Cr ($30 Mn).

The fund, a SEBI-registered Category II AIF, has a primary corpus of INR 200 Cr and INR 50 Cr greenshoe option.

247VC said in a statement that it will invest in high-potential founders across sectors, with a focus on four major themes - consumption, deeptech, enterprise tech, and industry 5.0.

The fund will be largely available for seed-stage startups, with follow-on capital in future rounds.247VC plans to invest in 30 startups over the next three years.

The VC firm's founder and managing partner Sanghrajka told Inc42 that while 50-55% of the fund ...