October 28, 2024: First Cheque, an early-stage venture capital firm, has announced plans to invest in 20 exceptional founders building promising brands over the next 18 months. With a commitment to provide up to $500,000 in funding for each portfolio company across the Paper-Plan / Pre-Product / MVP stage.
Founded in 2018 as an entity under India Quotient, First Cheque represents a strategic approach to capturing opportunities at the earliest stages of a startup’s journey. The firm’s focus on founders who dare to challenge conventional norms and think outside the box aligns with its mission to create iconic brands that dominate the market.
“We’re looking for passionate founders who are turning chaos into order, creating new categories, or inventing something entirely new,” said Gagan Goyal, Partner at India Quotient. “First Cheque aims to partner with visionaries who share our commitment to building massive market leaders.”
With a proven track record of investing in trailblazing brands like Sugar, Giva, and Rapidbox, First Cheque has already demonstrated its ability to identify and nurture high-potential startups. The firm’s portfolio boasts over 130 investments, including notable companies like Seekho, Rocketlane, DrinkPrime, Fleetx, Simplismart, and Rigi.
Last year, the venture capital firm partially exited D2C jewellery brand Giva Jewellery with an impressive 75X return, validating its investment strategy.
First Cheque to focus on startup concept space
“Through First Cheque, we’re doubling down on our commitment to support the next generation of brand builders by focusing on the concept space,” said Kanika Agarrwal, Partner at India Quotient.
“This is where the most exciting, high-potential startups are emerging, and we’re here to provide them with the capital, patience, and resources they need to scale.”
As the startup landscape continues to evolve, the venture capital firm’s innovative approach is set to redefine the venture capital landscape, empowering entrepreneurs to push boundaries and create game-changing brands.
First Cheque’s strategy highlights the shifting focus of venture capital firms towards early-stage investing, recognizing the potential for exponential growth in the concept space. By backing founders who challenge norms, First Cheque is poised to uncover hidden gems and create new market categories.
The emphasis on partnering with visionary founders underscores the importance of human capital in startup success. The venture capital approach prioritizes the entrepreneurial spirit, fostering an ecosystem where innovation thrives.
