Multiply Ventures raises Rs 260 cr via maiden fund focused on consumer tech

Multiply Ventures, an early-stage Venture Capitalist (VC) firm announced on Tuesday that it has raised Rs 260 crore through the closure of its maiden fund focused on consumer tech companies.

The fund, started by three former startup executives, received approval from the Securities and Exchange Board of India (Sebi) in 2020. It focuses on pre-seed or seed investment rounds and will be investing till Series A in companies that are growing efficiently, Multiply Ventures said in a statement.

Until now, the fund has invested in 15 companies and plans to invest in eight to 10 more startups within the next 12 months. Multiply Ventures specialises in four core sectors such as Fintech, Edtech, Retail, and Health.