India’s Warmup Ventures Launches Rs 300 Crore Fund to Empower Early-Stage Startups

Warmup Ventures has unveiled its second fund, Warmup Fund II, with a total corpus of Rs 300 crore. Registered as a Category 2 AIF with SEBI, the fund aims to invest in 25-30 early-stage startups across India. It will primarily focus on sectors like deep tech, climate, and sustainability, making individual investments ranging from Rs 5-7 crore per startup, with additional support for follow-on funding rounds.

With the launch of this new fund, Warmup Ventures seeks to support transformative and innovative startups that address critical challenges in technology and sustainability. With a strategic focus on deep-tech and climate-driven solutions,  the firm aims to encourage growth in sectors with high potential for long-term impact.

Warmup Ventures was co-founded by Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary. They bring a wealth of experience from their previous angel investments in over 100 emerging startups over the past five to six years. 

Sharad Bansal, managing partner at Warmup Ventures, stated that the company aims to provide more than just capital. He highlighted the importance of supporting early-stage founders with valuable knowledge and connections to help them make informed decisions and scale their ventures more effectively.

Founded as a syndicated fund in mid-2023, Warmup Ventures has already invested in more than 15 startups across various industries. Key investments include Bobabhai, which has grown to operate over 45 stores nationwide, Nitro Commerce, which now features over 200 brands, and Balwaan Krishi, which raised Rs 40 crore from JM Financial to scale its agritech solutions for small and mid-sized farmers. Other notable investments are MiniMines, a Li-ion battery recycling company, and RocketPay, a payment collection platform with more than 5,000 merchants on board.

The fund’s strategic focus on deep tech and sustainability is exemplified by its investments in companies like Nitro Commerce and Bobabhai, both of which have demonstrated significant growth. These startups showcase the potential for success when the right guidance and capital are in place. As Warmup Ventures embarks on its second fund with a corpus of Rs 300 crore, it plans to continue expanding its portfolio, supporting early-stage startups that are set to drive long-term change in their respective industries.

Warmup Ventures seeks to bridge the divide between India’s traditional business legacy and its rapidly evolving innovation economy. By engaging family offices and next-generation entrepreneurs, the firm fosters a platform that drives the growth of both established enterprises and emerging startups.

Founding partner Yogesh Chaudhary emphasized, “We are creating a platform that connects heritage with future growth,” highlighting the firm’s unique approach to fostering long-term success.

In addition to providing capital, Warmup Ventures is offering early-stage founders the knowledge and networks they need to scale their businesses. 

Managing partner Sharad Bansal noted, “Having experienced the founder’s journey ourselves, we deeply understand the importance of the right capital in driving a venture’s success.” The firm leverages its extensive network to create value for both startups and investors, ensuring that portfolio companies receive the support they need to make informed decisions and accelerate growth.