Ever since 100X.VC announced its ambitious drive to invest in 100 startups every year, four months ago; there has been a lot of buzz around this measure in the industry. Industry leaders and VCs have applauded, extending formal support with official quotes and hold high hopes from 100X.VC since its launch. They believe that 100X.VC’s idea to build a strong deal flow of seed funded startups by simplifying investment documentation using i-SAFE notes is very unique and disruptive.
“The priorities of founders at seed stage is to build the product, get early traction and validate their business model. Fund raising is not their expertise but they are forced to do it. At 100X.VC, we have worked hard to make funding simplified by the introduction of i-SAFE notes. This method has been welcomed by Founders and Indian Venture Capital Industry as a whole.”, says Yagnesh Sanghrajka, CFO at 100X.VC.
The 100X.VC’s investment model simplifies the funding process for the selected 100 startups, immensely. It begins by evaluating companies for the next round easily and getting rid of the time-consuming criterions, like the need to state pre-money or post money valuation and long agreements.
Further, 100X.VC is a sector agnostic fund focusing on startups having disruptive business models, high growth potential and the ability to scale. The firm aims to be the first institutional investor in the companies that it chooses to back. 100X.VC goes beyond funding and opens network, expertise and resources that assist founders in crafting a scalable business model.
Ninad Karpe, Partner at 100X.VC says “We are overwhelmed by the support from the industry. It talks volumes about the 100X.VC team reputation. We look forward to work closely with all the industry stakeholders in the best interest of Indian startup founders. 100X.VC is all set for the VC Pitch Day to showcase the Class 01 of 2019 on 7th Dec at IIT Bombay.”
The 100X.VC’s initiative is supported by a significant segment of VCs, Angel Investors, Family Office as well as Corporate Venture Capital Firms.
100X.VC received support from following partners –
Venture Capitalists: India Quotient, Unicorn India Ventures, CIO Angel Network, Parampara Capital, JSW Ventures, ITI Growth Opportunities Venture Fund, Sixth Sense Ventures, Norwest Venture Partners, Indian Angel Network, Society for Innovation & Entrepreneurship (SINE), IIT Bombay, 3one4 Capital, Nexus Venture Partners, Kae Capital, Alacrity India Fund, Lets Venture, YourNest Venture Capital, 8i Ventures, MF Advisors to Mayfield India.
Family Offices: Patni Family Office – Campden Family Connect, Snow Leopard Ventures Kirloskar Family, Darda Family Office – Lokmat Media.
Corporate Venture Capital Firms: JioGenNext, ICICI Bank, Edelweiss Asset Management, NASSCOM and Onward Group
Super Angels: Anupam Mittal, Vikram Upadhyaya.
Gaurav Sachdeva, Managing Partner, JSW Ventures, said, “We look forward to working with 100X.VC by integrating their investments into our deal pipeline and for value-adds to our portfolio companies. We also think that iSAFE was a much needed intervention in early stage financing; it will help streamline funding, reduce negotiation time so that the founders and 100X.VC can focus on what they do best – building world-class companies.”
Niren Shah, Managing Director, Norwest Venture Partners, said, “100X.VC is an excellent initiative that will support early stage companies and thereby strengthen the thriving VC ecosystem in India. More than just the capital, 100X.VC’s vision to provide mentorship, resources and expertise would help the founders to adopt best practices and build sustainable, capital efficient businesses. A differentiated approach through the use simplistic, standardized terms for the deal and a peg to future valuations makes the early stage fund raising process more efficient and ensures founders focus on building the business (than just fund raising).”
“100X.VC would be a high quality sourcing channel for us at Norwest Venture Partners as we participate in mid to late stage venture deals. Sanjay has been a successful angel investor in the past and we have extremely high regards for what he has achieved. We look forward to partnering with 100X.VC in the future,” Niren Shah said.
“Super-excited about the launch of 100X.VC. While India’s early-stage eco-system has grown remarkably over the last few years, India is still starved of quality startups. As the name suggests, we need 100 X more and so its encouraging to see Sanjay and team building a feeder system for the same. I would think of this as a major catalyst moment for India’s startup world and I am looking forward to partnering with 100X.VC on this journey.” – Anupam Mittal, Founder & CEO, People Group.
“100X.VC is a great platform created by Sanjay to bring budding entrepreneurs and start-ups together where, they not only get funding but also mentoring from experienced serial entrepreneurs like Sanjay himself and the entire eco-system which he brings behind 100X.VC. Also, creating a systematic platform with strategies like iSAFE ensures a smooth ride for both, the investors and the founders.” – Amit Patni, Co-founder & Chairman, Patni Family Office – Campden Family Connect.
100X.VC is India’s first Fund to invest in early stage startups using iSAFE – India SAFE Notes. The fund is sponsored by Mehta Ventures, the Family Office Investment arm of Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem. 100X.VC values its relationships with founders, co-investors, corporations and investment bankers and effectively becomes the coach, strategy consultant, investment banker, business mentor and trusted advisor of the startup after investing.