2am VC announced their second fund that aims to invest in 30 Indian startups, primarily at pre-seed to seed stages. The investments will focus on sectors like consumer tech, fintech, food and beverage, AI, and SaaS.
2am VC was founded by Hershel Mehta and Brendan Rogers in 2021 with a $10 million debut fund. The company is located in Mumbai, Bengaluru, Delhi NCR, and Los Angeles. Both the founders have experience in investment and have backed many startups. Zepto was also funded by Hershel Mehta via Mehta Ventures.
The first fund includes popular startups such as NEWME, Apna Mart, Karbon Card, and others. In the second fund, the company will allocate 60% of the fund to the initial investment. The remaining 40% will be reserved for the follow-on investments. In the last few years, India has witnessed a surge in startups.
India currently holds the third position worldwide in building unicorn startups, followed by the United States and China. Some famous startups in India that gained rapid success are Meesho, Groww, and Swiggy. Delhi, Mumbai, and Bengaluru are the hubs of the startup industry. 2am VC is helping these startups with the much-needed investment.
