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3one4 Capital plans $225 Mn fifth fund

What they do

3one4 Capital is a venture capital firm that backs early-stage startups

It is preparing to launch its fifth fund with a target of $225 Mn, with IFC proposing a $20 Mn investment

The fund will focus on AI, SaaS, fintech, and deeptech, as Indian startup funds hit $12.1 Bn in 2025

3one4 Capital is preparing to launch its fifth fund, named 3one4 Capital IFSC - Fund V.
The fund has a target corpus of $225 Mn (₹2,147 Cr).
The IFC has proposed a $20 Mn (₹191 Cr) equity investment in Fund V.
Fund V will back early-stage startups at Seed and Series A rounds.
The fund plans to invest in AI, SaaS, enterprise and manufacturing automation, fintech, deeptech, and consumer internet.
Founding partner and CIO Pranav Pai said the total size is being finalised and declined further details.
The investment thesis is modelled after the principles of the previous fund.

The Indian startup ecosystem saw funds worth $12.1 Bn launched in 2025, with 58% targeting early-stage.
ValleyNXT rolled out a ₹400 Cr fund for deeptech in February 2026.
Celesta Capital announced a deeptech fund with a target corpus of ₹2,000 Cr.
Pranav Pai noted that consumers still have vast opportunity, manufacturing did well in Fund IV, and all software now involves AI.

3one4 Capital is a venture capital firm that invests in early-stage startups.
It has backed 100+ startups across its funds.
The firm has achieved 26 profitable exits across its first two funds.
Fund IV closed at $200 Mn in May 2023, with average cheques of $0.5 Mn to $5 Mn.
Its maiden fund closed at ₹100 Cr in 2016.
Fund II closed at ₹250 Cr in 2018.
Fund III closed at ₹1,000 Cr in 2021.

IFC (lead) — International Finance Corporation, a member of the World Bank Group, proposed a $20 Mn investment.