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3one4 Eyes New Fund Amid Gains on Old Bets

March 14, 2025

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Mint Hyderabad

The Bengaluru-based VC firm is looking to raise its seventh fund this year

- Sneha Shah

Homegrown venture capital (VC) firm 3one4 Capital has successfully returned its first fund to investors with a performance of more than 1.0 DPI (distributed to paid-in capital). The firm is sitting on unrealized gains of around 4x in the portfolio companies of this fund, said Pranav Pai, founding partner and chief investment officer of 3one4 Capital, in an interview with Mint.

The Bengaluru-based firm, which backed startups like Tracxn, Licious, Darwinbox, PocketAces and Bugworks from the first fund of $15 million, will now look to raise its seventh fund this year. The firm raised its sixth fund of $225 million in 2023.

In venture capital investing, a DPI of 1.0 means that investors have received what they had initially invested in the fund. A DPI of more than 1.0 indicates a return of more than the principal amount.

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