Ex-100Unicorns’ Partners Float New VC Firm Spotlight Strategic Partners, Launch INR 200 Cr Maiden Fund

Ex-100Unicorns’ partners Rajesh Mane and Ankit Jain have launched a new venture capital (VC) firm Spotlight Strategic Partners to back early-stage Indian startups across various sectors. 

Mane informed Inc42 that the VC firm has also launched its maiden early-stage focused fund, “Spotlight Strategic Partners Fund”, with a corpus of INR 200 Cr.  “Spotlight is intentionally limited in size, enabling us to work closely with a select group of founders and LPs. This focus allows us to go deeper, move faster, and create lasting outcomes,” he said. 

The recently launched VC firm will be focusing on backing 18–20 startups at the pre-seed and seed stages with initial investments in the range of INR 3 Cr to 5 Cr range and “capacity for meaningful follow-on investments”. 

The firm is currently in discussions with a couple of consumer brands, AI, and fintech startups. Further, it will also be setting up an incubation centre in Mumbai to support very early-stage startups.

Spotlight is targeting to announce the first close of its fund by October. It intends to raise the capital from LPs including family offices, seasoned private equity professionals, and a select group of founders that Mane and Jain have partnered with in the past. 

Prior to founding the new VC firm, Mane served as the founding member and partner for 100Unicorns for little over four years till May 2025. During his stint with the VC firm, he claims to have led its investments in startups like  Pixis, VideoVerse, Zypp Electric and RENÉE Cosmetics. 

Meanwhile, Jain joined 100Unicorns as a principal in 2020 and got promoted to a partner position in 2023. He held that position till May 2025.

Mane and Jain said they want to build a tech-led portfolio platform to help founders with hiring, fundraising, and global market access. They are also experimenting with AI in their investment and portfolio processes. 

Spotlight joins the ranks of other recently launched nimble, sector-agnostic funds targeting India’s early-stage startups, often backed by family offices and private equity networks. 

Its size and approach are similar to recent funds such as All In Capital Fund II and AI-focused vehicles like Boundless Ventures. This is when smaller VC funds are increasingly working closely with family offices and repeat founders to move faster than larger institutional players.