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Early-stage venture firm 3one4 Capital, founded by Pranav Pai and Siddarth Pai, has fully returned the capital of its first fund to its sponsors, with unrealised returns remaining on track to deliver an additional 4x multiple. The fund, which was launched in 2016, had a corpus of Rs 100 crore, and backed startups such as Darwinbox and Licious.
“Back in 2016, there were only a handful of VCs in India and the only ones doing large investments were the global firms. The approach at that time was also outside-in, top-down. It was an underwhelming time…
