gradCapital launches $6-M fund for students' startups

Bengaluru-based venture capital fund gradCapital has launched its second fund of USD 6 million (about INR 49 crore) to invest in students' startups. The VC fund will offer a standard cheque of USD 40,000 (INR 33 lakh) for a 4% equity stake in the investee companies. The fund is backed by CIIE.CO, Nearbuy co-founder Ankur Warikoo, Info Edge founder Sanjeev Bikhchandani and Zerodha CTO Kailash Nadh, among others. Founded in 2021 by two IIM Ahmedabad alumni, gradCapital had previously raised USD 1 million to deploy into 18 companies.