The man who got 280 times return from OYO has come up with new investment tool to cut the clutter

Sanjay Mehta, founder, 100X.VC
  • Launched in July, 100X.VC aims to invest in 100 early-stage startups per year.
  • The fund has been launched by Sanjay Mehta, who has invested in over 130 companies including OYO Rooms and Ninad Karpe, who led CA India and Aptech.
  • The investment size for each early-stage startup would range from ₹2.5 million to ₹10 million.
As the Indian investment ecosystem ropes in more and more investors from within the country and globally, a new fund called 100X.VC aims to invest in 100 startups every year.

The fund has been launched by Sanjay Mehta, who has invested in over 130 companies including OYO Rooms and Ninad Karpe, who led CA India and Aptech, a premier education and training company.

Interestingly, in order to hit their target of 100 companies per year, they will be signing iSAFE notes. “iSAFE” stands for India Simple Agreement for Future Equity and is an alternative to a convertible security note. This way they are cutting down on the weeks of time taken by shareholder agreements.

“We didn’t want to get into large ticket size investments. Instead, we wanted to invest in a larger number of deals with a smaller ticket size. With this portfolio first approach, we create higher chances of a better investment return,” Sanjay Mehta told Business Insider.

The investment size for each early-stage startup would range from ₹2.5 million to ₹10 million.

Mehta said that his investment journey has been a learning for him. “My investment in OYO gave me 280 times returns when I exited. That one portfolio changes everything. My average return for all my investments has grown sizeably. So if I’m looking at 100 companies investment, my opportunity to get that hit also increases,” he said.

However it won’t just be about investments. Aimed to be a finishing school, 100X.VC hopes to reduce the mortality rate of startups and also help them scale. The investments will take place in 4 cohorts in a year, with each batch having 25 startups.

“We can’t perfect the product-market fit, where we can help the startup is getting the right talent. How to build a team beyond founders is the recipe for success,” said Mehta.
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