Early-stage venture capital firm 35North Ventures has raised Rs 100 crore ($11.9 million) for its Rs 500 crore India Discovery Fund II. Separately, quick commerce firm Zepto has reached a deal to raise $340 million, at a $5 billion valuation, MoneyControl reported on Wednesday.
35North Ventures raises $12m for India Discovery Fund II
Early-stage venture capital firm 35North Ventures has raised Rs 100 crore ($11.9 million) in the first phase of its India Discovery Fund II of Rs 500 crore.
35North Ventures, which has backed the likes of CloudTailor, SpeEdLabs, Big Bang Boom, New Space Research and Technology, Explurger, and Stupa Sports Analytics, was founded in 2021 by Ashwani Singh and Hemendra Aran.
The India Discovery Fund II is the successor of 35North’s first fund which closed at Rs 130 crore.
The second fund, which also has a greenshoe option of Rs 100 crore, has secured commitments from a mix of high-net-worth individuals in India and abroad, with some corporate family offices in India.
Zepto to close $340m funding led by General Catalyst: report
Quick commerce firm Zepto has reached a deal to raise $340 million, at a $5 billion valuation, according to MoneyControl.
While Zepto was initially preparing to raise as much as $400 million in the current round, the rapid delivery startup decided to cap the round’s size at $340 million. Of this, $250 million is coming from General Catalyst and Mars Growth is pumping in around $50 million, according to MoneyControl.
Zepto declined to comment when contacted by DealStreetAsia.
