VC firm Atomic Capital closes Rs 400 crore maiden fund

Bengaluru: Early-stage venture capital firm Atomic Capital on Tuesday announced the final close of its maiden fund with a corpus of over Rs 400 crore. It will focus on early growth-stage Indian consumer, consumer-tech, and consumer-enabler startups. The fund aims to build a curated portfolio of 10 to 12 startups.

With an average first cheque size of Rs 10 crore to Rs 30 crore, the fund aims to build a curated portfolio of 10–12 companies, with a portion of the corpus reserved for follow-on investments.

The fund reached its first close at Rs 155 crore last year, and over the past 12 months, Atomic Capital has already invested Rs 50 crore across four startups, including beauty and personal care brand ConsciousChemist and women’s western apparel brand Anny.

Apoorv Gautam, Founder and Managing Partner, said, “Over the next 2–3 years, we plan to deploy both initial and follow-on capital, aligned with our overall fund timeline of eight years. We are currently evaluating over 20 companies and have already issued a term sheet for our fifth investment.”

Some of the focus areas of the fund include food & beverages, nutraceuticals, personal care & beauty, jewellery, apparel & footwear, pet care, travel & accessories, electronics accessories, home furnishing, logistics, financial services, e-commerce SaaS, omnichannel infrastructure, and manufacturing.

On Tuesday, Dashverse, a full-stack AI entertainment company developing platforms for mobile-first entertainment, announced the closing of a $13 million Series A funding round, making it the largest Series A round in the sector. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) with participation from returning investors Z47 (formerly Matrix Partners India) and Stellaris Venture Partners.

Manastu Space Technologies also announced that it raised $3 million in an extended Series A round to accelerate the commercial deployment of its sustainable propulsion and in-orbit refuelling technologies, while expanding its global footprint. Bengaluru-based venture capital fund Capital-A led the round.