100X.VC plans to invest Rs 125 crore in 100 early-stage start-ups this year

Venture capital firm 100X.VC on Saturday announced its plan to invest Rs 125 crore (over $16.5 million) in 100 early-stage start-ups in the next 12 months.

The company said in a statement that it is mulling investing the amount for 15% future equity ownership in each startup using iSAFE Notes. It added that this will be “the fastest deployment of first cheque capital by any VC in India for early-stage start-ups.”

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Commenting on the announcement, Ninad Karpe, Partner, 100X.VC said, “We are delighted to take the next big leap in our commitment to become the finishing school for early-stage founders and fund 100 moonshot ideas within the next 12 months. Beyond capital, 100X provides invaluable mentoring and advice to build exponential business models. There has never been a better time to invest in Indian start-ups and 100X will continue in its endeavour to provide credible deal flow for investors.”

The company has invested in 80 start-ups after evaluating over 20,000 applications. Moreover, 100X.VC-funded start-ups have been able to raise over Rs 450 crore ($60 million) from various investors including growth VC funds, family offices, angel investors and corporate venture arms. 

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In this new model, start-up applications will be reviewed, accepted and invested on a rolling basis with no deadlines, the statement noted.

Investments will be completed through iSAFE Notes within two weeks of startup applications being accepted, it added.