TLDR:
- Two venture capital funds, Caret Capital and Ev2 Ventures, have merged to launch a $50 million fund.
- The new fund, called Caret Capital Fund II, will invest in pre-Series A startups in the sustainability sector.
In a recent announcement, two prominent venture capital funds, Caret Capital and Ev2 Ventures, have merged to form a new $50 million fund called Caret Capital Fund II. This fund will focus on backing pre-Series A startups in the sustainability sector, specifically targeting businesses in the mobility, distribution, and employment sectors. The fund has already secured its anchor investors and will be led by managing partners Pankaj Bansal, Karan Mittal, and Prajakt Raut. Bansal, who is also the co-founder of PeopleStrong, will bring his expertise in human resources tech to the table. Mittal, a general partner at Ev2 Ventures, expressed excitement about the merger, stating that the combined resources of both teams will create value and support their investment thesis. Ev2 Ventures, known for investing in companies like Euler Motors and Cogos Technologies, will bring their experience in the pre-Series A space to this new venture. Caret Capital’s portfolio includes companies like Celcius, Stylumia, and Mooofarm, indicating a strong focus on disruptive and innovative startups in the sustainability sector.
