Warmup Ventures launches Rs 300 crore Fund II to invest in early-stage startups

Warmup Ventures, an investment firm, has launched its second fund, Warmup Fund II, with a corpus of Rs 300 crore.

The fund is a SEBI-registered Category II Alternative Investment Fund (AIF) and will target early-stage startups in the deeptech, climate, and sustainability sectors.

Planning to invest Rs 5-7 crore

Warmup Fund II plans to invest Rs 5–7 crore each in about 25-30 startups across sectors, with additional provisions for follow-on funding.

The fund aims to bridge the gap between India’s established business heritage and the rapidly growing innovation ecosystem.

By connecting family offices and second-generation entrepreneurs, Warmup Ventures creates a platform for fostering collaboration between traditional businesses and innovative startups.

Warmup Ventures was co-founded by Sharad Bansal, an IIT Delhi alumnus; Rajendra Lora, an IIIT Jabalpur alumnus; and Yogesh Chaudhary, Director at Jaipur Rugs. The trio brings years of experience as angel investors, having backed over 100 startups over the last 5–6 years.

Portfolio and mission

Warmup Ventures has already supported over 15 startups under its previous syndicate fund, including:

1. Bobabhai: A fast-growing chain of bubble tea outlets with over 45 stores nationwide.
2. Nitro Commerce: A platform hosting more than 200 brands.
3. Minimizes: A Li-ion battery recycling startup addressing sustainability concerns.
4. RocketPay: A payment collection app serving over 5,000 merchants.
5. Balwaan Krishi: An agritech startup that secured Rs 40 crore from JM Financial to provide advanced solutions for small and mid-size farmers.

Beyond support beyond funding

Warmup Ventures goes beyond traditional financial backing by providing startups with knowledge, mentorship, and valuable networks.

Sharad Bansal highlighted the importance of strategic capital, stating, “Having experienced the founder's journey ourselves, we deeply understand the importance of the right capital in driving a venture’s success.”

Co-founder Rajendra Lora added, “At Warmup, we harness the collaborative power of our network to create value for both portfolio startups and investors.”

Warmup Ventures’ Rs 300 crore Fund II aims to accelerate India’s innovation economy by supporting startups tackling critical challenges in technology, climate, and sustainability.

By leveraging its co-founders’ experience and extensive network, the fund seeks to empower early-stage entrepreneurs to scale rapidly and succeed.