Early-stage VC firm Atomic Capital closes first fund at Rs 400 crore

Mumbai-based early-stage venture capital fund Atomic Capital has announced the final close of its first fund at Rs 400 crore.

The fund will focus on Indian consumer, consumer-tech, and consumer-enabler startups with a target portfolio capacity of 10 to 12 companies. It will invest in startups looking for pre-series A to series A funding rounds that have achieved a product-market fit. Pre-series A and series A funding happens after a startup proves a product-market fit for its offering and gains some traction in the seed stage.

The average first cheque will be between Rs 10 crore and Rs 30 crore. Further, it will reserve a portion of the fund for follow-on investments in portfolio companies.


Atomic Capital, which was founded by Apoorv Gautam in 2024, had announced the first close of its fund last year at Rs 155 crore. Since then, it has invested about Rs 50 crore across four companies: beauty and personal care startup Conscious Chemist, dairy and foods brand Doodhvale Farms, beverage label Rio Beverages and western apparel brand Anny.

Gautam has over 18 years of experience in investing, consulting, and strategic leadership. In the past, he has been associated with Rivigo, McKinsey and Bain.

“Our commitment goes beyond capital; we bring hands-on support, strategic know-how, and the conviction that building enduring brands can transform lives and unlock significant value,” said Gautam, founder and managing partner of the fund, in a statement. “Our focus is on capital-efficient businesses addressing large and expanding markets.”

Currently, Atomic Capital is evaluating over 20 startups for investment. “We have already issued a term sheet for our fifth investment,” said Gautam. "Over the next 2–3 years, we plan to deploy both initial and follow-on capital, aligned with our overall fund timeline of eight years," he added.

The fund’s investment decision will be based on rapport with the founding team, clear revenue momentum and capital efficiency, Gautam noted, adding, “We are firm believers in sustainable, capital-efficient growth — it’s the cornerstone of building enduring businesses.”

Food and beverages, nutraceuticals, beauty and personal care, apparel and footwear, pet care, electronics, ecommerce, SaaS and more are some of the key areas in which the fund is looking to invest in the future.