Warmup Ventures on Tuesday said it has launched its second fund, Warmup Fund II, a SEBI-registered Category 2 AIF, with a corpus of Rs 300 crore.
Backed by late-stage founders and second-generation entrepreneurs, WarmUp Ventures plans to invest Rs 5-7 crore in 25-30 early-stage startups across sectors, with a significant provision for follow-on rounds.
The fund was founded by entrepreneurs Sharad Bansal (IIT Delhi alumnus and founder of edtech startup Tinkerly), Rajendra Lora (IIIT Jabalpur alumnus and founder of agritech firm Freshokartz), and Yogesh Chaudhary (owner of Japur Rugs). Over the past 5-6 years, the trio has backed over 100 budding startups through their joint angel investments, providing funding capital and a network to help founders thrive.
“We are creating a platform that connects heritage with future growth,” said Yogesh Chaudhary, Founding Partner, Warmup Ventures.
Founded in mid-2023 as a syndicated fund, Warmup Ventures has backed more than 15 early-stage startups so far. These include Boba Bhai, a quick-service restaurant brand; Nitro Commerce, an AI-powered martech solutions provider; MiniMines, a recycling Li-ion battery startup; Biva Analytics, a business intelligence and virtual analytics platform for D2C brands; fintech startup RocketPay, and agritech startup Balwan Krishi.
“Having experienced the founder’s journey ourselves, we deeply understand the importance of the right capital for the success of a venture. At WarmUp, we are dedicated to going beyond funding by equipping early-stage founders with the knowledge and networks to make informed decisions and scale faster”, added Sharad Bansal, Managing Partner, WarmUp Ventures.