First Cheque, an early-stage venture capital firm plans to invest in 15-20 startups over the next 18 months, focusing on pre-seed-stage investments. First Cheque plans to offer initial investments of up to $500,000 per startup.
This latest initiative comes as part of the firm’s third cohort, backed by its recently closed second fund, which amassed ₹38 crore.
“First Cheque aims to partner with founders who share our commitment to creating iconic brands that aim to be massive market leaders. We are looking to back passionate founders, new category creators, those turning chaos into order, or those replacing everyday items or even building something the world hasn’t seen yet,” said Gagan Goyal, Partner at India Quotient.
“We have been investing in brands long before ‘D2C’ was a buzzword, supporting trailblazers like Sugar, Giva, and Rapidbox who have gone on to create entirely new market categories. Through First Cheque, we are now doubling down on our commitment to support the next generation of brand builders by focusing on the concept space. This is where we believe the most exciting, high-potential startups are emerging, and we are here to provide them with the capital, patience, and resources they need to scale,” said Kanika Agarrwal, Partner at India Quotient.
Founded in 2018 under India Quotient Venture Capital, First Cheque has carved out a niche by investing in innovative direct-to-consumer (D2C) businesses, often targeting categories that lack representation in the broader market. In this latest cohort, the firm is particularly interested in startups catering to Gen Z audiences and is exploring investments in emerging sectors such as kids’ brands, sports products, and white goods.
First Cheque’s success is underscored by its 75X return from D2C jewellery brand Giva, which it exited last year.
First Cheque has investments in more than 130 startups. Notable companies in its portfolio include SaaS solution Rocketlane, upskilling platform Seekho, fleet management service Fleetx, water supply innovator DrinkPrime, and generative AI firm Simplismart.
