100X.VC Intending to Invest in Indian Startups by 2020
100X.VC, a venture capital firm, is looking forward to invest more than Rs 200 crore in Indian startups by the end of 2020.
"100X.VC team research survey estimates that the top 100 corporations in India have kept aside anywhere between Rs 10-100 crore of capital to invest in startups. We expect around 30-40 corporates to join us in the CVC program and contribute upward of Rs 200 crore for investment in startups, we plan to invest in 15-30 startups every quarter." says Sanjay Mehta, Founder of 100X.VC.
100X.VC is India's first venture capital firm to invest in early-stage startups through India SAFE Notes (iSafe). In iSafe, an investor makes cash investment in return of a convertible instrument. The company plans to partner with local corporations who have huge compilations to invest in startups by introducing a corporate venture capital (CVC) program for India. 100X.VC intends to invest in about 100 startups in a year.
JioGenNext, YourNest, Reliance Industries, Nexus Ventures Partners, JSW Ventures are some of the venture capital firms that have partnered with 100X.VC.
"Indian corporations woke up after Walmart's acquisition of Flipkart. It shook them to start looking at startups seriously. Our role is of a catalyst by helping corporations discover, invest, and build startups allied to their industry and strategic fitment. We initially plan to work with 10-12 company boards to actively create a bespoke deal flow for their investments," Ninad Karpe, Partner, 100X.VC.