First Cheque

Check the fit first

• First Cheque invests at the Paper-Plan, Pre-Product and MVP stage. If you are well past that, look at later-stage funds.
• It invests across all sectors, so fit is about the team and the need for the product, not the industry.
• It says it plans to back 15-20 companies over the next 18 months, so expect it to be selective.

How to apply

• Use the application form linked from its home page, or get introduced by a founder or friend of First Cheque. It says both routes get the same priority.
• After you apply, the team reviews the details and asks for a call if it wants to proceed.
• Expect 2-3 calls and a decision within 10 days of the application.
• For general questions you can write to info@firstcheque.vc.

What helps your pitch

• Lead with the team and the need for the product. These are what it puts at the centre of evaluation.
• Share a link to your product if you have one. It calls this the best form of pitching.
• It says the best time to pitch is before you have a single customer, so do not wait for traction.
• Read its published term sheet and shareholders agreement before the first call so there are no surprises.

First Cheque is a Mumbai venture investor that backs founders at the very start. It says it invests in teams across the Paper-Plan / Pre-Product / MVP stage, and it is sector-agnostic: its pages say it invests across all sectors. The firm operates as First Cheque LLP, and its website is firstcheque.vc.

Who it backs

First Cheque describes itself as treasure hunters looking for visionary founders, new category creators, category leaders, and founders turning chaos into order, meaning unorganised markets into organised ones. It keeps the founding team and the need for the product at the centre of its evaluation. It says the best time to pitch is when you have not got a single customer, and the best form of pitching is a link to your product. Its portfolio page lists consumer internet, D2C, SaaS, fintech, deeptech, healthcare, edtech, logistics, gaming and more, so there is no single thematic filter. It says it plans to invest in 15-20 companies over the next 18 months.

How the process works

The site is unusually open about process. You apply through a form linked from its home page, or you get introduced through a founder or friend of First Cheque. It says warm introductions get no preference over cold applications. The team evaluates the details and asks for a call if it wants to proceed. It typically takes 2-3 calls with founders and promises a decision within 10 days, with the home page summarising this as 1st call to Term Sheet in 10 days. It also publishes its standard term sheet and shareholders agreement for download, and its home page walks through the key terms: the type of security, liquidation preference, anti-dilution, tag-along and pre-emptive rights, veto rights, the ESOP pool, reporting duties, and a 60-day exclusivity period. It says it is open to co-investors in the same round and will introduce you to other investors who can join.

After the investment

First Cheque runs a founder programme alongside the cheque. Its Demo Day lets portfolio founders pitch to a pool of investors, and it reports 120+ investors, 10+ sectors and 500+ 1-on-1 investor calls scheduled. The Community connects founders with 250+ founders across stages and sectors, Mentorship offers guidance from VCs and founders, and Expert Connects puts you in touch with operators. It also keeps a Dealbook of partner offers and runs continuous-learning sessions on topics such as fundraising, hiring, growth and customer retention.

Track record

The site reports 120+ companies and 250+ founders as recipients of its first cheques. Portfolio names on its pages include Giva, Seekho, Wint Wealth, Rocketlane, 30 Sundays and Simplismart. It also reports a partial exit from Giva. These are the firm's own claims and are not independently audited.

Where it is

Its privacy policy gives the registered address in Powai, Mumbai. The website lists a small investing team and a group of mentors, and a general contact inbox for enquiries.