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SEVA’s First Fund Exceeds Target by $35 Million
A conversation with Shalin Mehta, the firm's founder.
Jackson Fordyce
December 05, 2023
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The Story: SEVA, a relatively new venture firm based in Brooklyn, NY just raised its first fund, exceeding its $50 million target by $35 million dollars.
Although that is impressive, the Venture Daily team was even more intrigued by the firm’s founder and the unique investing approach it has taken to attract limited partners.
We don’t usually cover individual fundraising stories from smaller firms, but SEVA has an uncommon investment approach we wanted to highlight.
SEVA’s founder Shalin Mehta is only 28 years old and just raised an $85 million dollar fund as a solo general partner. He says that SEVA is not a venture capital firm, nor is it a private equity firm. Here’s how Shalin breaks it down:
The amazing set of limited partners we’ve attracted understood that we are not venture capitalists, that we are not buyout private equity investors, but we are the goldilocks of minority growth equity. I think that really resonated with our limited partners.
Shalin continues, “We come along and provide the ‘goldilocks’ of giving [investments] two things as a partner: 1) Liquidity. To ring the bell without selling control or selling the company. 2) The courage and cushion to invest in the product and the team without feeling like they have to get on the venture treadmill of raising dollars every twelve to eighteen months. We think of ourselves as the investor not for a reason, not for a season, but for the lifetime of the company until there’s a change of control.”
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