Klub completes raising of Rs200 crore for its fund

5 Sep 2022 , 10:31 AM

The first Rs200 crore revenue-based loan fund for Klub, a revenue-based financing platform supported by Sequoia Capital, to support consumer technology startups ahead of the holiday season, has reached its final close.

Launched in December of last year, Acceler8 is a Category II Alternative Investment Fund registered with SEBI (Securities and Exchange Board of India). To date, Acceler8 has invested in about 33 businesses, including BluSmart, Ben Franklin, Bewakoof, Furlenco, and SMOOR Chocolates, among others, the Sequoia-backed company said in a statement on September 5. Klub also said that 30% of the total value had been spent.

Klub stated it will close this fund in order to make investments in early-stage companies over the holiday season. Klub would finance companies for a period of 1 to 24 months with capital ranging from Rs5 lakh to Rs30 crore.

Credence Family Office, one of Klub’s key partners, assisted the provider of revenue-based finance in closing the fund, according to Klub. Industry titans like Dr. Apoorva Ranjan Sharma, co-founder of 9Unicorns, Vidit Aatrey, CEO of Meesho, and Naveen Tewari, founder and CEO of InMobi Group, are on the advisory council for the fund.