A Junior VC (AJVC), under the leadership of founder Aviral Bhatnagar, has successfully closed its inaugural ₹100 crore fund, aiming to bolster early-stage startups in India. This initiative addresses the critical funding gap at the pre-seed stage, providing essential support to emerging entrepreneurs.
Key Details:
- Investment Focus: AJVC plans to invest in 12-15 pre-seed startups annually, concentrating on sectors such as artificial intelligence (AI), software-as-a-service (SaaS), and consumer technology.
- Standard Investment Terms: Each investment will involve ₹1.5 crore for a 9% equity stake.
- Current Portfolio: To date, AJVC has invested in nine startups across diverse sectors, including AI, B2B, consumer brands, and consumer technology, with some based in regions like Assam and Jharkhand.
- Funding Sources: The fund is predominantly backed by domestic capital, with contributions from Indian family offices, founders of tech unicorns, and senior executives from leading investment firms.
Founder's Background:
Aviral Bhatnagar, an alumnus of IIT Bombay and IIM Ahmedabad, previously led enterprise software and AI investments at Venture Highway. He departed the firm prior to its acquisition by General Catalyst in June 2024. Bhatnagar also founded 'A Junior VC' in 2018, a platform offering insights into the Indian startup and venture investing ecosystem.
Funding Details:
- Fund Size: The initial corpus is ₹100 crore, with considerations to exercise a greenshoe option to raise an additional ₹50 crore due to substantial interest.
- Investor Composition: The fund's limited partners include Indian family offices, tech unicorn founders, and top executives from major investment firms, reflecting a strong domestic investment base.
AJVC's establishment signifies a pivotal development in India's venture capital landscape, focusing on nurturing early-stage startups and fostering innovation across emerging sectors.