SphitiCap, a Noida-based early stage venture capital firm, has launched its maiden venture fund with a total corpus of $500 million and is expected to invest in companies focused on sustainability, growth and impact.
In an official statement, SphitiCap stated that its maiden fund will invest in cleantech, fintech, deeptech, agritech, proptech, software as a service (SaaS), digital media, direct to consumer, spacetech, defence, and logistics and supply chain start-ups. Pallav Kumar Singh, the company's managing partner said, “As a sector-agnostic India-centred firm, we focus on value rather than valuations.”
On its website, the venture capital company claims to encourage innovation and investment in the disciplines of sustainability, growth and impact from Seed stage to Series A.
Founded in 2022 by venture capitalists Pallav Kumar Singh and Mayank Mehra, the firm aims at investing in companies with an average ticket size of $10 million. Its currently portfolio pipeline is expected to fund start-ups up to $15 million with no upper limit.
