Early­-stage VC 3one4 gets $200 million for new fund

Early-stage investment fund 3one4 Capital, an investor in companies like Licious, neobank Open, Jupiter and software firm Darwinbox, has raised $200 million to back a new set of startups across sectors including consumer, fintech, software-as-a-service (Saas) and digital health.

Around 50% of the capital in the new fund has come from Indian banks and mutual funds, said Pranav Pai, founding partner at 3one4 Capital. Rest of the limited partners (LP) —who invest in venture funds — are investors such as US university endowments, global sovereign funds, global corporations and insurance companies along with Indian firms as well as large family officers. As much as 90% of the fund was raised from institutional investors, Pai said in an interaction with ET.