Whiteboard Capital is a well-reputed venture capital firm that specializes in early-stage investments and has been able to finalize its second fund at INR 300 crore, which was twice the fund size it aimed for, at INR 150 crore. This remarkable feat further cements the dominance of the firm and its resolve towards spurring innovation in India’s startup landscape.
Vision of Whiteboard
Whiteboard Capital is led by Sandeep Tandon, the co-founder of Freecharge and Kunal Shah, an entrepreneur behind Cred. Their experience and vision have therefore played a key role in the design of investment philosophy and the success of the firm. They are still dedicated to selecting venture startups and ensuring that these companies get all the required assistance.
The early closure of its second fund ensures that Whiteboard Capital will be able to build on this progress. It aims to spend 30-35% of the deployable capital for fresh investments, and the rest for repeat investments in new portfolio companies. This balance is important as it enables the firm to fund new initiatives and sustain operations, which leads to sustainable growth and innovation.
Doubling the Target and Strategic Approach
Whiteboard Capital has closed its second fund at INR 300 crore proves that the firm has a strong investment plan, which is supported by the market. Originally aimed at achieving INR 150 crore, the firm was able to attract investors twice this amount, proving the confidence investors have placed in the firm’s vision.
Unlike most other venture capital firms active in the region, Whiteboard Capital is an incubator and an early-stage fund in one. It uses an operating team to actively engage with the portfolio companies to support them in fields such as operations, analysis, and technology. This approach is actual and guarantees that startups will get the necessary tips and tools for development.
Notable Investment and Fund Performance
The new fund is expected to be used to make investments in around 50 early-stage startups, it will focus on follow-on investments within its portfolio. This strategy underscores the firm’s ability to provide its portfolio companies with Whiteboard Capital’s support throughout the various stages of their development.
Whiteboard Capital has emerged as one of the leading early-stage investors in many innovative fintech firms like Cred, Jupiter, and Dezerv and consumer brands like Damensch and NatHabit. In addition to garnering high returns, these investments have provided the firm with a strategic foothold in the venture capital industry.
The first fund with a corpus of $10 million had already paid back 1x to its investors, and an unrealized IRR was around 6x. The firm exited eight startups either wholly or partially to show how the firm can source and support promising startups.
Conclusion
Whiteboard Capital’s successful fundraising for its second fund of INR 300 crore is another noteworthy milestone in the venture capital space. A firm that has doubled its initial target proves its market dominance and potential to garner significant interest from investors. By remaining an active investor in early-stage startups and maintaining a close-knit portfolio management system, Whiteboard Capital can achieve continued success in supporting the India startup scene.
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