Early-stage VC fund, based in Mumbai, Artha Venture Fund (AVF) has announced the final close of Rs 220 Crore debut fund.
“50+ limited partners (LPs) participated in the fund, with almost half of the LPs increasing their investment commitments in the last three months. More than 50 percent of the investments came from family offices, and from over 20 listed companies participating directly or through promoter entities. NRIs, HNIs, super angels, and SIDBI invested the remaining capital,” a statement made by AVF informed.
“The fund has allocated over 65 percent of its corpus for follow-on rounds and will make 10-12 seed+ investments per year,” it further said.
Managing Partner at Artha Venture Fund – Anirudh A Damani added, “Besides exceeding our targeted raise two months ahead of schedule, almost 50 percent of our first cohort of LPs doubled down on their earlier investments. Many referred us to people in their network.”
He said, “I welcome each LP to our investor family. Their reinvestment and promotion of our fund within their network is a clear indicator that our fund strategy and structure resonates with them at a deeper level.”
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