3one4 Capital raises Rs 250 cr for Second Fund

Bengaluru-based venture capital firm 3one4 Capital has closed its second fund with commitments for Rs 250 crore ($39 million), surpassing its initial target.
The early-stage investor had initially targeted to raise around Rs 150 crore for its second fund when it began fund raising last year.
Various institutions, corporations and professional fund managers, have invested in this venture, the company said in a release here.
Noted investors include Infosys co-founders Kris Gopalakrishnan and Nandan Nilekani's Family Office.
With this new corpus, the team will look to enhance its deep involvement model across its investment domains and work more closely with founding teams to launch new and important value propositions at scale, the company said.

The fund will continue to focus on the early stage, with cheque sizes between USD 250k to USD 2 million and a high reserve ratio for follow-on funding.

3one4 Capital Fund I was launched early in 2016 with a corpus of Rs 100 crore and since then, has built a deep portfolio across its investment focus areas spanning 40 plus companies, it said.
3one4 Capital was founded by Pranav Pai and Siddarth Pai, sons of former Infosys CFO T V Mohandas Pai.
The team consists of professionals that span across engineering, product design and development, finance, compliance, risk assessment, auditing and law, the company said.