Kalaari Capital launches CXXO, earmarks $10 million to back women founders

Kalaari Capital on Wednesday launched CXXO, an initiative as part of which it has set aside $10 million (Rs 74 crore) annually, to invest in startups that have women founders as key decision-makers.

The amount has been set aside from the existing fund of the Bengaluru-based venture capital firm that has backed startups like Dream11, Myntra, and Snapdeal.

Vani Kola, managing director of Kalaari Capital, said at a virtual event hosted today that they plan to cut checks starting from $500,000 going up to $5 million for 8-10 startups in the next 6-12 months, and do this every year.