Warmup Ventures launches Rs 300 cr fund to back early-stage startups

Second fund by venture capital firm will invest in sectors like deep tech, climate, sustainability

Warmup Ventures has launched a second fund that has a corpus of Rs 300 crore for investments in 25-30 early-stage startups across India, said the venture capital (VC) company on Tuesday.

 

Warmup Fund II, a Category 2 AIF (alternate investment fund), will focus on sectors like deep tech, climate and sustainability as it makes individual investments of Rs 5-7 crore and a provision for follow-on rounds.

 

Warmup Ventures was founded by Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary, who over the past six years have invested in more than 100 startups through combined angel investments.

 

“Having experienced the founder’s journey ourselves, we deeply understand the importance of the right capital in driving a venture’s success,” said Bansal, managing partner, Warmup Ventures, in a press statement. “We are dedicated to going beyond funding by equipping early-stage founders with the knowledge and networks to make informed decisions and scale faster.”

 

Since its inception in mid-2023 as a syndicate fund, Warmup Ventures has invested in more than 15 startups that include Bobabhai, Nitro Commerce, and Balwaan Krishi. These companies have made "significant strides" in scaling operations and attracting funding from other investors, said the statement, adding that Bobabhai has expanded to 45 stores nationwide, while Nitro Commerce has on-boarded over 200 brands.

 

The VC firm said it aims to bridge the gap between India’s business heritage and its innovation economy by connecting family offices and second-generation entrepreneurs with "future-forward" startups.

 

“We are creating a platform that connects heritage with future growth,” said Chaudhary, founding partner, Warmup Ventures.