100X.VC has announced its plan to invest in 100 Indian start-ups every year. The idea primarily is to build a strong deal flow of seed funded startups by simplifying investment documentation using i-SAFE notes. The 100X.VC fund is sponsored by Mehta Ventures, the Family Office Investment arm of Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem.
The firm aims to be the first institutional investor in the companies that it chooses to back. 100X.VC claims to go beyond funding and open network, expertise and resources that assist the startup founders in crafting a scalable business model.
100X.VC is a sector agnostic fund focusing on startups having disruptive business models, high growth potential and the ability to scale. “The priorities of founders at seed stage is to build the product, get early traction and validate their business model. Fund raising is not their expertise but they are forced to do it. At 100X.VC, we have worked hard to make funding simplified by the introduction of i-SAFE notes,” says Yagnesh Sanghrajka, CFO at 100X.VC.
The 100X.VC’s investment model simplifies the funding process for the selected 100 startups, immensely. It begins by evaluating companies for the next round easily and getting rid of the time-consuming criterions, like the need to state pre-money or post money valuation and long agreements.
The industry and other VC partners have wholeheartedly endorsed the move from 100X.VC. Ninad Karpe, Partner at 100X.VC informs “We are overwhelmed by the support from the industry. It talks volumes about the 100X.VC team reputation. We look forward to work closely with all the industry stakeholders in the best interest of Indian startup founders.” Start – Up Pitches