3one4 Capital Targets Diverse Startups With New IIDEA Fund

3one4 Capital is a company that invests money in young businesses.

It has started a new fund worth $15 million.

The fund will support founders working on problems in areas such as energy, farming, healthcare and technology.

It wants to find promising businesses outside the biggest cities and usual startup industries.

The firm has made money from 26 investments through successful exits.

Some companies it backed have grown quickly or been sold to larger companies.

Pranav Pai said startups now need to show that their businesses can become profitable.

He said companies should have loyal customers, useful products and costs they can manage within five to seven years.