India, Oct. 6 -- Fintech-focussed VC firm Aagama Ventures has launched INR 400 Cr (around $45 Mn) fund to back early stage fintech startups.

In a statement, the VC firm said it plans to invest in 15 to 20 startups. It will make investments in 4-5 startups every year. Around 50% of the fund's corpus would be reserved for follow-on investments.

The fund has received commitments from veterans of the financial services sector and fintech founders such as Mayang Goyal, founder of MoneyHop; Naveen Kukreja, cofounder of Paisabazaar; Bhavesh Gupta, former COO of Paytm; and Abhijit Singh, global head of Banking As a Service (BaaS), international banking and digital banking at HDFC Bank.

Talking to Inc42, Shubhanga Prasad, cofounder and partner ...