WEH Ventures marks first close of Rs 250 crore third fund

The new fund has received commitments from Play Capital, a Nordic Fund of Funds (FoFs) and family offices such as Eraya, Twin & Bull Investments and Heritage Investments, it said in a statement without specifying the amount at which the first close was made.

It has also drawn Limited Partner (LP) interest from exited founders from companies including Oziva and GS Labs; senior executives and CEOs from companies such as Thermax, Haleon, Lenovo and PNB MetLife; as well as senior Silicon Valley executives associated with companies including Arlo and Intuitive Surgical.

The statement added that the new fund will invest across sectors including advanced manufacturing, agriculture, energy transition, artificial intelligence and healthcare, alongside consumer and fintech.

It has already committed to eight investments across advanced agriculture, robotics, healthcare diagnostics, retail and edtech sectors. Its announced bets from the new fund include horticulture startup Fragaria, fitness services and health products Praan Health and modern sports retail company PlayBlue.

The venture capital firm, which was founded by Deepak Gupta in 2017, expects to mark the final close of its third fund by mid-2027. Its first fund had a corpus of Rs 20 crore and its second fund had a target corpus of Rs 100 crore.

The investments from the previous funds include low-cost investing platform smallcase, cattle trading platform Animall, stories platform Pratilipi and spiritual platform SriMandir.

Earlier this week, IIT Madras and Unicorn India Ventures marked the first close of their Rs 1,000 crore deeptech fund.