India, Sept. 16 -- Former Haptik CEO Aakrit Vaish-led VC firm Activate has announced the final close of its maiden fund at $105 Mn (around Rs.1,000 Cr). The fund, which was closed within a year of its launch, comprises an $85 Mn flagship early-stage fund and $20 Mn deployed through dedicated growth investment vehicles.

Activate said the flagship fund closed at 125% above its original target. Activate's LP base includes more than 50 founders and AI researchers, around a dozen global VC general partners and more than 50 family offices, enterprises and corporates. Notable backers include Vinod Khosla, General Catalyst, Raghu Raghuram, Vijay Shekhar Sharma, Lalit Keshre, Harsh Jain, Bhavin Turakhia, Ronnie Screwvala and Ranjan Pai, among oth...