Seed Firm MyFirstCheque Invests In Auto Portal Mericar.com - VC Circle

MyFirstCheque, a seed-stage sector-agnostic fund that is looking to back startups at the inception stage, has made its debut investment in MeriCAR.com, an online auto portal that seeks to provide car servicing solutions to owners, founded by Rakesh Sidana. MyFirstCheque, which as the name suggests literally cuts the first cheque for the investee company, will typically look at an average investment of Rs 20 lakh in a startup. The fund is eyeing an equity stake between 15% and 25% in its portfolio firms. MeriCAR.com  helps car owners to search the neighbourhood car service centre, connect to the right car workshop and save on car servicing bill. The company is associated with BOSCH, Maruti Authorized Service Startion, Castrol Pitstop and others in New Delhi and NCR region. Founder Rakesh Sidana, an Information Technology and management graduate with over 13 years experience, has worked with B2B portal IndiaMart previously. Founded by entrepreneur Gautam ...