India’s first Fund to invest in 100 startups in a span of one year using iSAFE – India SAFE Notes, launched today. “iSAFE” stands for India Simple Agreement for Future Equity, an alternative to a convertible security note, that is beneficial for start-ups Customized for India, iSAFE will avoid tedious documentation and cut timelines significantly.
100X.VC is a sector agnostic fund and will focus its investments in companies across a broad range of industries. The investment thesis of 100X.VC will be to invest in startups having disruptive business models, high growth and scale. The investment size for each early-stage startup would range from INR 2.5 million to 10 million.
Mr. Ninad Karpe, ace corporate leader, who has joined 100X.VC as its Partner, said: “100X.VC is truly a game-changer. I am delighted to be part of this exciting journey of funding startups in India using a unique model. I hope to bring to bear my entire corporate experience to nurture and grow the startups we invest in.”
100X.VC aims to be the first institutional investor in its portfolio companies and will go beyond mere funding. 100.VC will open its network, expertise and resources that will assist founders in crafting a scalable business model.
Mr. Sanjay Mehta, Founder and Partner at 100X.VC said, “Time has now come for us in India to make a huge leap in investing in start-ups, using globally successful models which will lend depth and scale to the VC industry. When startups become part of the 100X.VC ecosystem, they will get all that they truly need. For us, investing in 100 start-ups over the next twelve months is just the beginning”
Based in Mumbai, 100X.VC has received the final regulatory approvals for Category 1 – Alternate Investment Fund License and Investment Advisor License from the Securities & Exchange Board of India (SEBI) to commence its operations.
100X.VC is India’s first Fund to invest in early stage startups using iSAFE – India SAFE Notes. The fund is sponsored by Mehta Ventures, the Family Office Investment arm of Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem. 100X.VC values its relationships with founders, co-investors, corporations and investment bankers and effectively becomes the coach, strategy consultant, investment banker, business mentor and trusted advisor of the startup after investing.
About the Team:
Sanjay Mehta, Founder & Partner
Sanjay Mehta is a serial entrepreneur turned angel investor. Sanjay started his journey as an entrepreneur, successfully exiting the business and then starting his Family Office – Mehta Ventures. Since 2011, Sanjay has invested in approximately 130+ companies including OYO Rooms, Box8, LogiNext, and Block.One. Sanjay’s ability to understand the nuances of technology and finance has helped him build global ventures.
Ninad Karpe, Partner
Ninad Karpe has had an eclectic career, starting with being a consultant; moving on to head operations of CA India, the global software multinational; and then leading Aptech, India’s premier education and training company. An author, speaker, entrepreneur and corporate leader – Ninad has done it all.
Yagnesh Sanghrajka, CFO
Yagnesh has had a successful run in the corporate world heading Finance, M&A and Strategy in multiple leading organizations, which include the Hinduja Group, Phoenix Mills Group, MT Educare(Mahesh Tutorials). He has also served as the India Operating Partner for Bessemer Venture Partners (Global VC).
Shashank Randev, Founder VC
Shashank brings 15+ years of work experience, having worked in large companies including Zensar Technologies and NIIT Ltd. He was also the founding member of VCCEdge (Acquired by News Corp) and has been investing in technology-enabled startups.
Vatsal Kanakiya, CTO
Vatsal Kanakiya is the CTO of 100X.VC and has work experience of 2 years. He has worked with Morgan Stanley, MIT Media Labs and Mehta Ventures Family Office.