Atom XVII Launches INR 75 Crore Consumer-Focused Fund

Atom XVII, a newly established investment fund, has launched Category II Alternative Investment Fund (AIF) focused on India’s consumer sector. With a corpus of INR 75 crore, the fund is set to conclude the first close by the next month-end. It claims to have “soft commitments” of INR 40 crore already secured. 

Atom XVII has been founded by Harsh Kapadia, a Chartered Accountant and an MBA graduate from the University of Oxford. Safari Commercials Pvt Ltd will anchor the fund, which has Mohit Mutreja of the Alphagrep Group among its notable limited partners, alongside other marquee investors.

The new fund will focus on India’s consumer sector with focus on pre-seed and Series A founders. It expects to back up 13 to 15 startups with an average ticket size of INR 3 crore per deal. 

The fund will be invested in high-trending consumer segments, with an additional focus on markets beyond Tier-1 cities. Atom XVII also will look to invest alongside like-minded funds and co-investors. 

Atom XVII has already begun deal sourcing. It led a bridge round earlier this year in Nothing Before Coffee (NBC), a consumer brand that was previously a portfolio company of Harsh Kapadia’s, deploying INR 3 crore. 

Of late, quite a few funds targeting different sectors have launched. 

For instance, ConsumerX Ventures, a fund operated by D2C Insider and touted as India’s first operator-led early-stage fund focused exclusively on new-age and digitally native consumer brands, was launched. With a sizable corpus at INR 150 crore, the fund strives to build a portfolio of 20 to 25 early-stage consumer companies across categories.

Last week, AUM Ventures launched its second fund with a target corpus of INR 750 crore (USD 80 million approximately) to support Indian founders building IP-driven, innovation-led companies. Called AUM Ventures – India Innovation Fund II, the fund is a SEBI registered Category II AIF.