India's CapFort Ventures seeks $24m for debut VC fund
India’s CapFort Ventures, an early-stage VC firm set up this year by investors at local incubator Venture Catalysts, has launched its debut fund with a target of USD 24m.
CapFort is led by Abhimanyu Bisht and Kavit Sutariya, both prolific angel and seed-stage investors with various organisations. Together, they claim to have invested in more than 200 start-ups.
Bisht served as CEO of Venture Catalysts until February and previously managed an accelerator program for Times Internet. He also has experience as s founder, having helped launch a logistics start-up called QikPod in 2015.
Sutariya joined Venture Catalysts as a member in 2016 and remains with the group. He is also active with Indian Angel Network, LetsVenture, Anicut Capital, Hyderabad Angel, among other organisations. He established Hiraco Ventures, the Sutariya family office focused on start-ups.
“In recent years, India’s start-up ecosystem has demonstrated superior potential, resilience, and sustainability,” Bisht said in a social media post. “[O]ur objective is to provide not only financial support but also invaluable guidance and mentorship to help entrepreneurs turn their vision into reality.”
Bisht’s and Sutariya’s previous investments include FarEye, a logistics software provider that raised USD 330,00 in 2015 from Indian Angel Network and USD 100m in 2021 from a syndicate including Dragoneer Investment Group and Eight Roads Ventures.
Their investments also include InShorts, a media app previously known as NewsInShorts, that has raised more than USD 160m from the likes of Tiger Global Management, A91 Partners, and Susquehanna International Group.
India’s seed, angel, and micro-VC space is expanding rapidly, with at least 10 investment groups under raising funds under various structures in recent months. They include Indian Angel Network, which closed an approximately USD 122m fund last October.
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