iSAFE fund 100X.VC to focus on start-ups in FinTech, other high growth sectors

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Sanjay Mehta, Founder, 100X.VC

To encourage the Indian start-up ecosystem, especially in the FinTech space, a clutch of veteran investors and top corporate leaders have launched India’s first iSAFE fund called 100X.VC.

iSAFE stands for India Simple Agreement for Future Equity, an alternative to a convertible security note. It helps avoid tedious documentation and cuts timelines significantly. The fund is sponsored by Mehta Ventures floated by well-known angel investor and serial entrepreneur Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem

According to a statement by 100X.VC, the fund is looking at investing about 100 startups in a span of one year. The fund aims to be the first institutional investor in its portfolio companies and will go beyond mere funding.

The fund is sector agnostic but will focus on FinTech and in startups having disruptive business models, high growth and scale with an investment size range from INR 2.5 million to INR 10 million.

Sanjay Mehta, Founder and Partner at 100X.VC said, ” Time has now come for us in India to make a huge leap in investing in start-ups, using globally successful models which will lend depth and scale to the VC industry. When startups become part of the 100X.VC ecosystem, they will get all that they truly need. For us, investing in 100 start-ups over the next twelve months is just the beginning”

He further told IBS Intelligence that 100X.VC is extremely bullish on the FinTech startups and that about 30% of the portfolio would be in BFSI startups either in B2B or B2C side.

“India is underbanked hence provides massive opportunity for Indian startups to solve the basic problems of getting them on digital banking channels with unique products for under-served,” Mehta said.

Ninad Karpe, ace corporate leader and former head of operations at Aptech, has also 100X.VC as its Partner. Other partners are Yagnesh Sanghrajka( former operating partner at Bessemer Venture Partner), Shashank Randev of VCCEdge, amongst others.

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