ETtechMumbai: Artha Venture Fund, a micro-venture capital fund, has raised Rs 225 crore toward the final close of its maiden fund. This includes Rs 25 crore as part of its green shoe option.
The early-stage fund will look to invest across seed, pre-Series A, and Series A levels of growth in business to business (B2B), business to consumer (B2C), direct to consumer (D2C) enablers, a senior company executive said.
The fund was launched in 2018. It has already invested in companies such as Agnikul, LenDenClub, PiggyRide, Daalchini and GetWork.
Founded by Anirudh Damani, Artha has earmarked around two-thirds of the capital for investing in its winners. “We are looking to invest in around 40 companies. Then, will double down on 20 fastest-growing winner companies and will further invest in the top ten out of those,” Damani told ET. “We expect to fully deploy the capital by FY23.”
Around half of the new fund has been raised from family offices in the United States, United Arab Emirates, Israel, Russia, Morocco, and the Middle East. Around 20% has come from ultra-high net-worth individuals (UHNIs) and an equal quantum has been pumped in by the Small Industries Development Bank of India (SIDBI).
“We will continue to scout for seed+ stage deals in our preferred investment themes of D2C, D2C enablers, and B2B. Another sleeping giant that has piqued our interest in the last 12 months is the gaming sector, especially for the masses,” Damani said.
Artha had previously announced the second close of Rs 100 crore in June 2019.
The fund recently reinvested in Agnikul's Series A round and has six deals set in the pipeline for the next few months, Damani said.
Artha joins a long list of India-focused funds that have been raised in the recent past.
With domestic investors becoming increasingly active in early-stage investments, a slew of funds has been raised from family offices and UHNIs. These include IIFL Special Opportunities Fund, Alteria Capital’s second fund, Trifecta Capital and Stride Venture’s second fund, and Avataar Ventures.
The early-stage fund will look to invest across seed, pre-Series A, and Series A levels of growth in business to business (B2B), business to consumer (B2C), direct to consumer (D2C) enablers, a senior company executive said.
The fund was launched in 2018. It has already invested in companies such as Agnikul, LenDenClub, PiggyRide, Daalchini and GetWork.
Founded by Anirudh Damani, Artha has earmarked around two-thirds of the capital for investing in its winners. “We are looking to invest in around 40 companies. Then, will double down on 20 fastest-growing winner companies and will further invest in the top ten out of those,” Damani told ET. “We expect to fully deploy the capital by FY23.”
Around half of the new fund has been raised from family offices in the United States, United Arab Emirates, Israel, Russia, Morocco, and the Middle East. Around 20% has come from ultra-high net-worth individuals (UHNIs) and an equal quantum has been pumped in by the Small Industries Development Bank of India (SIDBI).
“We will continue to scout for seed+ stage deals in our preferred investment themes of D2C, D2C enablers, and B2B. Another sleeping giant that has piqued our interest in the last 12 months is the gaming sector, especially for the masses,” Damani said.
Artha had previously announced the second close of Rs 100 crore in June 2019.
The fund recently reinvested in Agnikul's Series A round and has six deals set in the pipeline for the next few months, Damani said.
Artha joins a long list of India-focused funds that have been raised in the recent past.
With domestic investors becoming increasingly active in early-stage investments, a slew of funds has been raised from family offices and UHNIs. These include IIFL Special Opportunities Fund, Alteria Capital’s second fund, Trifecta Capital and Stride Venture’s second fund, and Avataar Ventures.