Razorpay has launched a fund backing early-stage B2B software startups across a range of industries, with up to $1m per investment.
Razorpay, an Indian payments platform company, has launched a fund to invest in B2B software startups in India across sectors including fintech, travel, healthcare, retail and e-commerce.
The fund is called the Venture Investment Programme, and aims to fund 10-15 early-stage startups per year, with an investment size ranging between $500,000 and $1m. Its goal is to back more than 50 startups across the lifetime of the fund, suggesting a fund size of $25-50m at least.
Peax XV Partners and Lightspeed Venture Partners, Indian VC firms, are co-investors in the fund.
Vishnu Acharya, who is managing the fund, announced on LinkedIn that Razorpay will help founders further by providing technical support and mentorship, as well as access to the corporate’s distribution network.
Razorpay was founded in 2014 and has since grown to provide a number of payments services for businesses, including receiving and making payments, automating payroll and accessing loans. In June 2022, it led the $3m series A funding round for HostBooks, an Indian financial services software startup.
The Razorpay Venture Investment Programme will make its first investments in the next few months.
