Announcing its entry in the micro VC category in India, Eximius Ventures, headquartered in New Delhi, declared the first close of its maiden fund today. While it started in March 2020, the fund now plans to invest USD 10 million in early-stage startups with approximately $300,000 equity cheque per startup. Its team, including Founder & Managing Director, Pearl Agarwal have an accomplished history of investing and enabling businesses with growth opportunities. With over 50 years of cumulative experience, the Eximius team now plans to invest capital in at least 25-30 emerging startups in the next three years. The fund is looking closely at startups in edtech, healthtech, fintech, and gaming sectors as well as in high potential industries such as B2B SaaS and online media.
Micro VC as a space is already matured in the US with a 230 percent increase in the number of micro VC funds closed in 2017 as compared to 2009. Micro VC space in India is still in its nascent stages. With the ecosystem expanding and more startups emerging everyday, there will be a need for more such agile funds in the near future. These focused funds will need to develop deep knowledge and expertise in notable sectors so as to move swiftly at the same pace as the angel investors and write much bigger cheques compared to individual angel investors with the additional visibility of follow-up on funding.
Commenting on the first close of the fund, Pearl, Agarwal Founder & Managing Director, Eximius said, “As a fund investing in the pre-seed stage, we would primarily focus on addressing funding and accessibility gaps faced by startups and extend our support beyond capital to offer unconditional network access, expert guidance, help with future fundraising, and more. I am delighted to share that I have been able to create an Eximius community, which is strengthened by industry experts, thought leaders, and mentors who together create a nexus for founders to scale their startup.”