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Capital-A, managed by Manjushree Capital Advisors, is an early-stage venture capital fund founded in 2021 and headquartered in India. The firm focuses on investing in the manufacturing, deep tech, and climate sectors, aiming to support founders who are developing innovative solutions in these areas. Capital-A has its roots in Manjushree Technopack, a leading rigid-packaging manufacturer in South Asia with over 40 years of experience and a customer base that includes major brands like Unilever and Coca-Cola.
Currently, Capital-A is deploying capital from its $50 million Fund II, which operates under the Category II Alternative Investment Fund (AIF) regulatory structure. The firm has a portfolio of 15 companies and aims to invest in 17-20 startups through Fund II, with check sizes ranging from $2 million to $3 million over the lifecycle of each investment. The firm emphasizes a collaborative approach, providing strategic guidance and leveraging its industry connections to foster growth.
Capital-A primarily invests in early-stage companies within the manufacturing, deep tech, and climate sectors. The firm seeks to support innovative technologies that drive sustainable practices and contribute to the industrial economy of the future. Their investment strategy combines a private-equity mindset with venture agility, allowing them to adapt quickly to market changes while maintaining a long-term vision.
The firm is particularly interested in sectors such as electronics, automation, and circular economy initiatives. Capital-A also emphasizes the importance of localizing supply chains in India, especially within the semiconductor industry. They prefer to lead or co-lead investment rounds and are open to co-investing when they can add distinctive value to the partnership.
Capital-A's portfolio includes a diverse range of companies focused on sustainable and innovative solutions:
Ankit Kedia - Founder and General Partner. Ankit has a background as the former promoter of Manjushree Technopack Ltd. He is actively involved in the Indian VC ecosystem and is a member of the IVCA DeepTech Circle.
Ramesh S. - Partner. Ramesh brings extensive experience in venture capital and investment management, focusing on the manufacturing and climate sectors.
Priya T. - Investment Analyst. Priya specializes in analyzing early-stage investments and supporting portfolio companies in their growth strategies.
Rakshith Jain - Investment Team member focusing on climate tech, deep tech, and manufacturing.
Aditya Singh - Investment Team member contributing to the firm's investment strategies and portfolio management.
To pitch Capital-A, founders should visit their contact page at https://capital-a.in/contact/. They prefer direct outreach and recommend including a clear overview of the business model, market opportunity, and team background in the pitch deck. Founders should also highlight how their solutions align with Capital-A's focus on manufacturing, deep tech, and climate sectors.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are appreciated but not required.
Capital-A runs the MaXcel Accelerator, a program designed to support startups in precision manufacturing, advanced materials, semiconductors, IoT, frugal industrial automation, robotics, and smart factory systems. The accelerator aims to foster innovation in hardware-software integration and has seen significant interest, with over 2,000 applicants in its latest cohort.
Startups interested in the MaXcel Accelerator can apply through the Capital-A website, where they can find more details about eligibility and application processes.
In April 2024, Capital-A announced the launch of its MaXcel Accelerator, a joint initiative with SanchiConnect, aimed at supporting startups in precision manufacturing, advanced materials, and semiconductors. The program received over 2,000 applications for its latest cohort, selecting three startups for participation.
Capital-A is actively deploying from its $50 million Fund II, which is expected to close by the end of 2025. The firm has made notable investments in early-stage companies, including Misochain and Enerzi, although specific details on these investments have not been disclosed.
What are Capital-A's investment criteria?
Capital-A focuses on early-stage investments in the manufacturing, deep tech, and climate sectors. They look for innovative technologies that promote sustainability and contribute to the industrial economy.
How can I pitch to Capital-A?
Founders can pitch their ideas by visiting Capital-A's contact page at https://capital-a.in/contact/. They encourage direct outreach for potential investments.
What makes Capital-A different from other VC firms?
Capital-A combines a private-equity mindset with venture agility, allowing them to support startups with both strategic guidance and operational expertise. Their deep industry connections in manufacturing and climate sectors provide additional value to portfolio companies.
What is the typical check size for investments?
Capital-A typically invests between $2 million and $3 million over the lifecycle of each company, focusing on Seed and Pre-Series A stages.
What geographic areas does Capital-A focus on?
Capital-A primarily invests in startups located in India and other parts of Asia, particularly those that align with their focus sectors.
What kind of post-investment support does Capital-A provide?
Capital-A offers strategic guidance, industry connections, and operational support to its portfolio companies, emphasizing a collaborative approach to foster growth and innovation.
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