We Founder Circle's GIFT City Fund raises $10 million, plans to raise $50 million

Early-stage startup investment platform We Founder Circle on Tuesday said its GIFT City Fund has raised $10 million and onboarded 250+ investors, with plans to raise $50 million.

GIFT City Fund aims to close up to 10+ deals by the end of the current fiscal year.

The fundraise size for the GIFT City Fund includes a corpus of $30 million with an additional green shoe option of $30 million.

“We aim to complete onboarding of at least 300+ investors with a signed contribution of $15 million+ by March 2024,” said Gaurav VK Singhvi, Co-founder, We Founder Circle.

“In a relatively short span, we have forged partnerships with leading incubators, accelerators, and other startup funds,” he added.

The fundraise size for the GIFT City Fund includes a corpus of $30 million with an additional green shoe option of $30 million.

WFC Global Angels Fund has so far invested in six startups across various sectors, including Artificial Intelligence, Space Technology Software, Gamification, Healthcare and others.