15 April 2024 – Mithun Sacheti, the creator of CaratLane, and Binny Bansal, the cofounder of Flipkart, have joined Xeed Ventures, an early-stage fund run by Sailesh Tulshan in Bengaluru, as anchor limited partners (LPs). According to an ET article, Premji Invest has joined the INR 600 Cr fund, formerly known as 021 Capital, as a limited partner.
Gulshan, Bansal, and Sacheti will be on the Xeed investment committee. Xeed, a pun on the word “seed,” plans to make 20–25 investments from the fund and targets investments under $1 million. It will continue to prioritise B2B, fintech, and corporate transactions.
Up to 70% of the fund’s cash has already been combined, and fresh investments have been made. Apart from Bansal and Sacheti, many other entrepreneurs have also used money. Xeed has completed investments in companies, including the financial services company Kredit. Pe and the direct-to-consumer brand Charcoal. Inc.
Conclusion
Tulshan publicly introduced 021 Capital in 2019. In the past, he managed investments for Sachin Bansal, a cofounder of Flipkart. This debut happened at the same time that Flipkart, an online store, was sold for a whopping $16 billion to Walmart, a major US retailer.
