Artha Ventures Fund closes its first fund worth Rs 22.5 billion to invest in start-ups

Artha Venture Fund, a micro-venture capital firm, has closed the final curtain on its first fund and has raised a total of Rs. 22.5 billion to invest in promising early-stage startups in the country.

This amount includes 2.5 billion rupees raised in the form of the company’s green shoe options (investment banks can support stock prices after an IPO, for example, without investing capital. risky investment).

The funds thus raised will be used to invest in many early stage startups that have a strong potential for exponential growth. This includes start-up, pre-Series A and Series A financing, and covers business-to-business, business-to-business and consumer direct businesses. The games division can also be expected to take an interest in the business.

Artha was founded by Anirudh Damani, the current managing partner of the company. The fund, which is involved in finding and supporting “passionate companies” in need of financial assistance, would invest two-thirds of its newly acquired funding in key partners. It is said to be devoted to.

“We plan to invest in around 40 companies. Then we will double the 20 winners and invest more in the top 10 of them, ”Damani told reporters. I intend to use it for. “

Most of the other fundraising activity featured in the news involves large investment firms and industry giants, but Artha’s funding has a twist. It was revealed that more than 50% of the funds raised came from family offices in the United Arab Emirates, the United States, Russia, Morocco and Israel. Individuals with Very High Net Worth (UHNI) and India’s Small Industrial Development Bank (SIDBI) each donated around 20% of their total to fundraising activities.

Damani, who ran a family office at Artha India Ventures, wants to make the fund one of the leading investment institutions in India. The company had already completed the second round of its first fundraising activity in 2009, raising Rs 100 million. So far, we have invested in a number of companies including Series A tours at Agnikul, Daalchini, PiggyRide, GetWork and LenDenClub.

One of the best-known names in Artha India Ventures portfolio, Agnikul has emerged in the industry with its innovative space technology solutions. Bagging At $ 11 million, the first launch of a small satellite launcher is currently targeted for 2022.

Artha Ventures Fund closes its first fund worth Rs 22.5 billion to invest in start-ups

Source link Artha Ventures Fund closes its first fund worth Rs 22.5 billion to invest in start-ups


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