New fund · Financial Services
WEH Ventures reaches first close of ₹250 crore Fund III
By Startup Enthusiast ·
- Date
- Company
- WEH Ventures
- What it does
- Seed-stage venture fund
- Kind
- New fund
- Amount
- ₹250 Cr
- Stage
- First close
- Based in
- Mumbai
- Founded
- 2017
- Sector
- Financial Services
What they do
WEH Ventures is a seed-stage investor that backs young Indian startups selling in India and abroad
What happened
It announced the first close of its third fund, which targets ₹250 crore and will back 20 to 25 startups
Why it matters
Backers include Nordic fund of funds Play Capital, family offices and exited founders; eight investments are already committed
The details
- WEH Ventures announced the first close of Fund III on 29 September 2026.
- The fund targets a corpus of ₹250 crore.
- It plans to back 20 to 25 early-stage startups.
- Investors include Play Capital, a Nordic fund of funds, and family offices such as Eraya.
- Exited founders and senior executives from Thermax, Haleon and Lenovo also invested.
The bigger picture
- Fund I (2017) has returned 1.4x its capital.
- Fund II (2020) has already returned money through one exit.
- Eight Fund III investments are already committed.
About the business
- WEH Ventures is a seed-stage venture capital firm that puts money into very young Indian startups.
- It writes small first cheques of $150K–$500K at the pre-seed and seed stage (the earliest rounds, often before real revenue).
- Its money comes from investors in its funds (pooled money), and it earns by selling its startup stakes later at a gain.
- It likes category-creating founders whose products have no mainstream demand yet, across fintech, agriculture, robotics, healthcare and consumer.
- Its third fund has a ₹250 crore target (first close in 2026) and plans 20–25 startups, with eight already chosen.
- Past bets include Smallcase, Jar, Pratilipi, Animall, MasterChow, AppsforBharat, Unbox Robotics and Mitigata.
The deal
- Type
- fund
Investors
- Play Capital (limited partner) — Nordic fund of funds.
Founders
- **Deepak Gupta** is founding partner and general partner of the fund.
- **Rohit Krishna** is general partner and co-leads the firm's early-stage investing.
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