Caret Capital, Ev2 Ventures to jointly launch $50-M fund

Venture capital (VC) firms Caret Capital and Ev2 Ventures have joined forces to launch a new USD 50 million India-focussed fund. Called Caret Capital Fund II, the new fund will invest in early-stage startups (pre-Series A) across three sectors: mobility, distribution, and employment. The firms have lined up anchor investors for the new fund, which will be helmed by Caret Capital co-founders and managing partners Pankaj Bansal and Prajakt Raut, and Ev2’s Karan Mittal.Founded in 2020, Caret Capital is an early-stage fund that invests in startups in the sustainability space. Its portfolio includes B2B fashion startup Stylumia, cold supply chain solutions provider Celcius, and logistics platform Tusker.Ev2 Ventures is also a pre-Series A VC firm that counts EV maker Euler Motors, logistics startup Cogos Technologies, and EV financing platform Alt Mobility in its portfolio.