India-based venture capital firm 3one4 Capital has closed a Rs 4bn ($56.6m) growth-stage fund Continuum I with capital from limited partners including diversified conglomerate Sojitz, the Economic Times has reported.
The cornerstone investor in Continuum I is Emory Investment Management, the endowment fund for Emory University, which invested alongside Sojitz in February this year. Investment firms Catamaran Ventures and Infina Finance are also among the LPs.
Founded in 2015, 3one4 Capital targets deep technology, education, healthcare, media, enterprise automation and financial technology developers. The fund will concentrate on post-series B investments, supplying between $3m and $5m per deal.
The firm has also formed a Rs 450m ($6.4m) early-stage vehicle dubbed Rising I with commitments from undisclosed backers that had also invested in its previous funds. It will back pre-seed and seed-staged startups, providing Rs 5m and Rs 35m for each transaction.
