Eternal Capital, spearheaded by former BharatPe COO Dhruv Dhanraj Bahl, has announced the launch of its inaugural venture capital fund with a targeted corpus of Rs 120 crore ($14.5 million).
The fund, including a greenshoe option of another Rs 120 crore, elevates its total capacity to Rs 240 crore ($29 million).
Securing SEBI’s approval for a Category-I AIF in November 2023, Eternal Capital has already garnered commitments from prominent operators and entrepreneurs, including Suhail Sameer, Deep Kalra, Tarun Mathur, Vikas Gupta, Adarsh Menon, Nalin Negi, Sameer Chugh, Saurabh Vashishtha, Kunal Suri, and Amit Bagaria, among others.
Positioned as a sector-agnostic fund, it aims to curate a diverse portfolio of startups focused on “solutions for the future”. The fund plans to invest in 40 startups ranging from seed to pre-Series A stages over the next three years.
Bahl, who has a background in early-stage angel investing and has backed over 50 startups since 2020 by collaborating with prominent funds and angels, has an impressive portfolio that includes Stupa Sports Analytics, Basic Home Loans, ApniBus, Volt Money, DrinkPrime, AdmitKard, GenWise, Vama, and Fleek, among others.
Eternal Capital intends to prioritize investments in startups led by seasoned operators, particularly those at a post-PMF stage, demonstrating profitable revenue potential in the mid to long term.
With this new fund, Eternal Capital seeks to fuel the growth of promising startups and contribute significantly to the burgeoning startup ecosystem in India.
