3Lines Closes Fund II
DENVER, April 2, 2021 – 3Lines Venture Capital announced today that it successfully closed its Rocket Fund on March 31st. The fund targeted a total raise of $20M with a unique investor engagement model of three instruments- managed fund, co-investment and venture debt. The combined value proposition of greater returns to investors resulted in the commitment of $26M.
“With the backdrop of Covid-19 pandemic, it has been a herculean mission and an uphill battle. Despite that headwind, I am very pleased to share that we closed 3Lines’ Fund-II which was oversubscribed by 30% over our initial goal”, noted Krishna Kunapuli, Founder of 3Lines Venture Capital. “During 2022, we will be launching our 3Lines’ Orbit Fund of $100M”, Kunapuli added.
“I am also pleased to welcome Ramesh Raavi, the Founder and CEO of SR3 Group of companies and Prescriptive Technologies, to 3Lines as a Venture Partner and an investor. Ramesh brings with him vast entrepreneurial experience in software technology and services and in real estate in Texas as well”, Kunapuli said.
“I am thrilled to be a part of 3Lines’ leadership team and look forward to working with and learning from industry veterans at 3Lines”, said Ramesh Raavi. “It is going to be an exciting journey for me in a new area of entrepreneurship and growth as 3Lines pursues its vision of building a VC firm with $1B asset under management in this decade”, Raavi added.
3Lines Venture Capital (https://3lines.vc) is a venture capital firm based out of Denver, Colorado. Since its inception in 2016, 3Lines has built a portfolio of twenty one early stage companies in the US and India. 3Lines invests in startup companies with AI and disruptive software technology at their core and vectored along Future of Work, Enterprise and Industry.
April 2, 2021
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