India, April 23 -- Former BharatPe CEO Suhail Sameer-backed OTP Ventures is planning to mark the first close of its debut fund at INR 400 Cr by June.

Founded in 2023, OTP Ventures is an early stage fund which Sameer cofounded with FoodPanda's former managing director Kunal Suri and video commerce app Simsim's cofounder Saurabh Vashishtha.

"They would be anchoring the fund and be the largest investors in the same, while the rest will come from a mix of founders, institutions (Indian and global), and established professionals. They are still in talks to onboard some Limited Partners (LPs), and will make the first close by June," Moneycontrol reported.

The fund looks forward to supporting startups in the consumer, consumer tech and fintec...