Early-stage venture capital firm First Cheque has announced its intention to invest in 15-20 startups over the next 18 months, focusing on pre-seed-stage investments. This latest initiative comes as part of the firm’s third cohort, backed by its recently closed second fund, which amassed ₹38 crore. First Cheque plans to offer initial investments of up to $500,000 per startup.
Founded in 2018 under India Quotient Venture Capital, First Cheque has carved out a niche by investing in innovative direct-to-consumer (D2C) businesses, often targeting categories that lack representation in the broader market. In this latest cohort, the firm is particularly interested in startups catering to Gen Z audiences and is exploring investments in emerging sectors such as kids’ brands, sports products, and white goods.
First Cheque’s success is underscored by its 75X return from D2C jewellery brand Giva, which it exited last year. With a diverse portfolio of over 130 startups, First Cheque’s track record includes well-regarded companies like SaaS solution Rocketlane, upskilling platform Seekho, fleet management service Fleetx, water supply innovator DrinkPrime, and generative AI firm Simplismart.
As it embarks on this new cohort, First Cheque is set to support the next wave of high-potential startups, further expanding its influence in the Indian startup ecosystem.
