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US-based VC firm SamVed introduces $50 million fund to support early-stage Indian startups

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Sumit Vishwakarma
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SamVed funding

Shanti Mohan and Amit Srivastava, SamVed

SamVed, a U.S.-based venture capital firm, has announced a $50 million fund dedicated to early-stage technology startups in India.

The firm plans to invest in sectors such as artificial intelligence, agritech, healthcare, fintech, e-commerce, upskilling, and consumer brands. 

It will focus on providing seed and pre-Series A funding, offering between $80,000 and $120,000 at the initial stage and up to $1 million for later rounds.

Focus on India’s emerging middle class

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The SamVed team believes India’s rapidly growing economy, which could reach $10 trillion over the next decade, will create a large middle-class population looking for better education, healthcare, finance, and lifestyle options. The fund aims to support startups that address these needs.

The firm has already backed three ventures but has not disclosed the names. Those businesses include one focused on helping food vendors, another that provides smart vending machines for smaller cities, and a software platform for the textile industry.

Seasoned team and local expertise

SamVed’s leadership brings together individuals with experience from Bridgewater Associates, LetsVenture, Google, and other major tech and investment firms.

Amit Srivastava, a former investor at Bridgewater, serves as a managing partner. Shanti Mohan, co-founder of angel investment platform LetsVenture, offers deep connections within India’s startup community, while former Google executive Gagan Saksena brings technology insights. The core team also includes investor Vivek Khare, known for his early involvement in Zomato and PolicyBazaar.

Srivastava said India’s growth presents “unparalleled opportunities for startups to drive meaningful change and create scalable businesses.” Mohan added that with SamVed’s industry networks and understanding of the local market, the fund “is uniquely positioned to identify high-potential startups and accelerate their growth journeys.”

Supporting startups with operational guidance

Besides financial investments, SamVed provides operational support to help new companies handle the challenges of early growth. This includes access to an in-house chief technology officer and connections to a global network of professionals.

The firm’s leadership emphasizes their plan to help founders execute their ideas and build sustainable ventures that meet the needs of a wide range of consumers, especially in tier-II and tier-III cities.

Aiming for an initial close by March 2024

SamVed is targeting an initial close of $20 million by March 2024. This capital will help the fund move quickly on deals and offer startups the resources they need during their formative stages.

The firm describes its core vision as looking beyond major metropolitan areas and exploring the opportunities of “India Two,” where a rising middle-income market is eager for new solutions in sectors that directly impact daily life.

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