Gemba Capital a micro venture capital firm said it has made a final close of Rs 75 crore for its maiden fund, according to ETtech report.
Gemba had announced an inaugural corpus of $10 million (Rs 77.48 crore) in September last year, according to the statement.
As much as 50% of the capital will be invested in fintech and SaaS startups while the balance will be deployed across a variety of industries, including Web 3.0, gaming, deep tech, healthcare, and B2B commerce.
“We are overwhelmed by the confidence shown in our abilities by our LPs ( limited partners who are sponsors in funds). We have reached the target of Rs 75 crore and will announce the final close soon…. We want to close all the ongoing discussions and should get oversubscribed and touch Rs 100 crore,” Adith Podhar, founding partner said.
“Our deal pipeline is strong, and we intend to make our first investment from May this year onwards. Our target remains to close eight deals by December end”, Podhar further added.
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