Venture capital firm 247VC nears the first closure of its inaugural fund, seeking involvement from significant Limited Partners (LPs).
247VC Nears First Close of Maiden Fund, Secures Key Institutional Investor Discussions
In the vibrant world of venture capital, 247VC is making significant strides. Founded by Yagnesh Sanghrajka and Shashank Randev, the early-stage firm is on the brink of closing its maiden fund, aiming to complete the process within a couple of months from early August 2025.
The firm, registered as 247VC Investment Trust under the Alternative Investment Fund (AIF) Cat II category, is also in active discussions with a key institutional investor to come on board as a limited partner for this fund.
Meanwhile, in another development, HDFC Capital has secured the International Finance Corporation (IFC) as an anchor limited partner for its $1-billion real estate fund. This fund, however, has a different focus than BlackSoil's credit fund, which recently expanded its global footprint by launching a Southeast Asia-focused credit fund.
It's worth noting that Shashank Randev has a history of investing and operating in India's seed funding space, including co-founding 100X.VC before 247VC. The specific executive brought on by Endiya Partners as a venture partner remains undisclosed at this time.
As the venture capital landscape continues to evolve, these moves by 247VC, HDFC Capital, and BlackSoil underscore the ongoing interest and investment in the sector. Stay tuned for more updates as these stories unfold.
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- The key institutional investor discussions that 247VC is having could lead to significant investments in its maiden fund, which aims to focus on early-stage finance opportunities.
- Despite 247VC's focus on early-stage finance, other venture capital firms like HDFC Capital are also securing institutional partners for their funds, indicating a broader interest in the sector.
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