Caret Capital and Ev2 Ventures Merge, Launch $50 Million Fund

Caret Capital and Ev2 Ventures Merge, Launch $50 Million Fund

18 April 2024 Caret Capital and Ev2 Ventures have merged to launch a new $50 million fund, Caret Capital Fund II, focused on early-stage startups in sustainability sectors.

The fund will back pre-Series A startups operating in mobility, distribution, and employment sectors, supporting innovative solutions in these areas. Caret Capital Fund II will be led by managing partners Pankaj Bansal, Karan Mittal, and Prajakt Raut, with anchor investors already secured for the fund.

The merger aims to leverage the collective expertise and track record of both teams to create value and support the fund’s investment thesis. Ev2 Ventures has invested in companies like Euler Motors, Cogos Technologies, and Alt Mobility, focusing on electric commercial vehicles, logistics aggregation, and EV financing.

Caret Capital’s portfolio includes Celcius, Stylumia, and Mooofarm, showcasing a diverse range of investments in asset-light cold supply solutions, AI-enabled demand forecasting, and dairy-focused agritech.


Conclusion:

The merger of Caret Capital and Ev2 Ventures brings together their strengths to launch a significant fund dedicated to supporting early-stage startups in critical sustainability sectors. This move reflects a strategic vision to drive innovation and growth in key areas impacting mobility, distribution, and employment in India’s startup ecosystem.

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