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Economic Times
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Early-stage venture capital firm First Cheque to invest in 15-20 startups
- Early-stage venture capital firm First Cheque will invest in 15-20 startups over the next 18 months from its third cohort.
- The firm aims to invest up to $500,000 for pre-seed and direct-to-consumer (D2C) startups.
- First Cheque's limited partners largely comprise family offices and institutions globally.
- The firm follows a sector-agnostic investment strategy but specifically focuses on backing D2C startups for the next 18 months.
- First Cheque partner, Kanika Agarrwal, said they aim to find differentiated brands in categories that are completely empty.
- The firm has invested in 130 startups, including companies like jewellery brand Giva, software-as-a-service (SaaS) startup Rocketlane, and fleet management platform Fleetx.
- In July 2022, First Cheque had closed its second fund at Rs 38 crore.
- The firm is interested in finding great kids' brands, brands in sports and white goods, a whole bunch of Gen Z brands, and passionate founders.
- First Cheque partner, Gagan Goyal, wants to back founders turning chaos into order, or those replacing everyday items or even building something the world hasn’t seen yet.
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