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Merak Ventures launches $100mn fund for early-stage start-ups

August 30, 2022

Merak Ventures launches $100mn fund for early-stage start-ups
Early-stage venture capital firm Merak Ventures has launched a new fund with a target corpus of $100 million. The VC firm plans to invest in up to 20 startups over the next three to four years.

Merak will infuse seed capital in B2B and emerging technology companies, the investment firm said in a press statement. The new fund is sector agnostic, but it will also focus on areas including climate tech, which comprises agritech, mobility, climate finance, digital solutions, and insurtech.
 
Merak is co-founded by former GrowX Ventures partners Manu Rikhye and Sheetal Bahl. The duo were investing in early stage companies at GrowX which focuses on deeptech companies. They still manage 16 companies from the GrowX portfolio which include Progcap and Cynlr.
 
Merak’s $100 million fund comes amid the so-called funding winter that has seen investors shying away from putting large capital in startups, especially in middle and late-stage startups. Moreover, companies are now taking drastic measures, including layoffs, to return to the path to profitability.
 
According to data compiled by Fintrackr, nearly 90 startup investment firms, including 63 VC firms, eight PE firms, and four debt firms, have launched or were in the final leg to announce their new fund as of July 2022.
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