Java Capital launches Rs 75 cr seed fund, announces first close at Rs 30 cr

Firm will invest in at least 15 technology and fintech start-ups, expects final close in 6 months

Java Capital, a seed-stage focused alternative investment fund (AIF), on Monday announced the launch of its first fund with a corpus of Rs 75 crore. The firm will invest in at least 15 technology and fintech start-ups in the next 18-24 months.

The fund, which has a green-shoe option of Rs 25 crore, recorded its first close at Rs 30 crore. It expects a final close in six months. The fund has invested in pre-seed to pre-series A startups, with an average first cheque size of Rs 2 crore and it plans to reserve 50 per cent to make follow-on