Venture Capital investor and former upGrad executive, Kushal Bhagia launched a new $10 million fund, called All in Capital, on June 9 at a time when global tech investors and VC firms are reducing exposure to high-growth companies shifting focus to profitable ventures.
Founded by Bhagia and Aditya Singh, All In Capital is a $10 million sector-agnostic fund, focused on backing the best pre-seed and seed-stage founders from India.
Bhagia said, "We typically invest $100K to $300K in Indian startups in your first round of funding. We then follow that up with doubling down on you through successive funding rounds. Most of our first investments are pre-product and almost all of them are pre-revenue."
All in Capital has invested in companies like Rocketlane, Fashinza, Giva, and Jai Kisan, among others.
Before All in Capital, Bhagia also ran FirstCheque.vc, a preseed fund through which he backed over 100 Indian startups in their first rounds. In his early career, he launched an EdTech startup immediately after graduating from college. Bhagia, later joined the initial team at upGrad.
In a blog, on the website of the newly launched fund, Bhagia said he found his calling while working with founders as a VC investor. He added, “When I became a VC, for the first time, I realized that I really do care about this particular customer - i.e. the Indian founder, I finally found my calling as an investor while backing more than 100 early-stage Indian startups over the past three years!”
Bhagia said, "Our new early-stage VC fund - All In Capital backed by some of India’s best Tech founders, Global Institutional Investors, Family Offices, and technology executives from Silicon Valley."
Bhagia named Co-founder and COO of Share Chat, Faris Ahsan, and Meesho Co-founders Vidit Aatrey and Sanjeev Barnwal, among others as members of the community of founders who will work with the VC fund.
He added, “They help us source startups to invest in, advise us on sectors we are planning to invest in, and also generously help support our portfolio companies.”
Among other founders in All in Capital community are Aprameya Radhakrishna, Founder of Koo, Srikrishnan Ganesha, Founder of Rocketlane, Pawan Gupta, Founder of Fashinza, and more, informed Bhagia.
Bhagia said, “We truly believe in the India Tech story. We are likely in the middle of one of the greatest upcycles of wealth creation in human history powered by widespread technological adoption.” The VC aims to focus on funding pre-seed and seed-stage tech startups.
This comes at a time when global tech investors and VC firms like Japan's SoftBank Group and New York's Tiger Global, have recorded huge losses, and have significantly reduced exposure to high-growth companies.
In addition, recently, Sequoia Capital, one of the world’s largest venture capital (VC) firms told its founders that the era of being rewarded for hypergrowth at any costs is quickly coming to an end with investors shifting towards companies who can demonstrate current profitability.
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