$5M has been raised by First Cheque

First Cheque is an early-stage venture capital that has raised Rs 38 crores from global investors. The funding round amounted to around $5 million for its second fund.

First Cheque is planning to utilize the fresh funding capital in the following ways:

To invest in 50 startups in the next 2 years,
To improve their pitch and help them identify the right product metrics, and
To operate as an AngelList syndicate.

Along with this, the company will focus on first-time founders and invest its money amounting to $100,000 in each portfolio company.

This is a Bengaluru-based company that has a target to be the earliest institutional capital available for founders.

First Cheque is planning to facilitate employment in less than just 30 days. The company is also launching an in-house program, featuring leading founders, sector experts, and venture capitalists who will share their experiences around building a company, GTM (go-to-market) strategy, hiring and retention, monetization, and fundraising.

The company is also planning to onboard undergraduate venture fellows, who will connect the fund with high-potential student startups from their respective colleges. First Cheque worked with 20 venture partners during its first fund and added more than 100 startups to its portfolio. Some of the investors include Fashinza, Giva, Rocketlane, Fleetx, Wint Wealth, Plaza/Rigi, Global Fair, Drink Prime, and Bellatrix Aerospace.

EXECUTIVE OPINION:

Prateek Agarwal, Investment Lead, First Cheque said, “We believe that India needs more seed stage institutional capital and mentorship, which we aim to provide via our founder community, dedicated program, and a network of seasoned investors and venture partners. Our commitment is to foster a support system that can help our founders throughout their journey. It is a small step aligned with PM Narendra Modi’s “Startup India” initiative.”

Tags : First Cheque, StartupsDekho

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$5M has been raised by First Cheque

Tags : First Cheque, StartupsDekho

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