I am grateful to share that AJVC has raised 100 Cr, hitting our target in 5 months of launch
I did not expect this kind of response when I started the fund. Beyond hitting our target raise, we have received 5,500 applications and made nine investments. The response is both overwhelming and humbling. I truly believe this is a big responsibility with which we have been entrusted
Trust is an incredible enabler that I have seen in real time over the fundraise
I was warned before I started the fund that fundraise and finding startups will not be easy. Everyone was right. Few fund managers talk about it publicly, but raising a fund can be extremely challenging. I had the good fortune of having solid backing and support in the early days of the fund. Every relationship, right from the start, sparked from the trust built from an unusual channel
My writing online about startups, the ecosystem and India
I started writing almost 10 years ago, alongside when I started my career as a VC. I obviously did not have the goal of raising a fund through it. But the patience, commitment and effort have compounded over time into a network that has supported me. The trust that has been built is now backing AJVC.
Do what you love honestly, and you will be loved back
It’s a privilege to do what you love for work. I love being with startups, especially when they are absolutely raw and undiscovered. What I am most proud of is our turnaround time to these yet undiscovered startups. Our TAT is live on our website, at about 30 hours, not days.
Most of our investments have been done in weeks, not months
Today alongside this announcement, we have also unveiled the details of the nine investments AJVC has made. Their names will be revealed over time. They have undergone the rigorous, yet streamlined AJVC process. Our usage of technology, has helped make the process both accessible, yet involved. We have selected just 0.2% of all applicants, with teams applying every hour, every day
AJVC’s applications have come from all over India
India’s entrepreneurship is not restricted to just the metros. There is a massive surge of entrepreneurs everywhere. Of the 5,500 applications we received, more than a 1,000 are from outside the top 10 cities. We have invested in startups based in Rajasthan, Jharkhand and Assam. While the big cities continue to innovate, this is an incredible countrywide transformationÂ
Courage can come from anywhere
The fundraise is an important milestone in our mission to enable entrepreneurship in India. I see this as the part of a decade long journey I am committing to. Entrepreneurship will power us to become a $10T economy. India is giving a lot of people, including myself, the opportunity to be an entrepreneur. Like our biggest supporter says, I wish to pay it forward
AJVC is here to back the courageous to be entrepreneurs