Investment firm 100X.VC is engaging with four large corporates from Japan and Hong Kong to invest in early-stage startups in India. This effort is part of their corporate venture capital (CVC) initiative, launched in August 2021, to help corporates make informed investment decisions. Panasonic and Pidilite Ventures have already partnered with 100X.VC, with Pidilite investing around $9 million in six startups.
Yagnesh Sanghrajka, founder and CFO of 100X.VC, highlighted the challenges corporates face in setting up teams and evaluating deals in India, which 100X.VC aims to address. Globally, companies like Intel and Google use CVC funds to invest in startups. In India, Infosys, Wipro, and others are also active in this space.
100X.VC has invested in over 150 early-stage startups, including Data Sutram, Dezy, and Beyond Snacks. Recently, it invested $2.7 million in 17 startups as part of its 11th cohort. The firm’s CVC and venture capital verticals operate independently to avoid conflicts of interest. The CVC program helps corporates secure profitable deals and identify acquisition targets.
Currently, 100X.VC is in talks with five Indian corporates for partnerships. Sanghrajka believes that early-stage investments help corporates understand the Indian startup ecosystem and the problems they are solving, emphasizing India's growing importance as a major startup hub.