Artha Venture Fund, an early-stage micro-venture capital fund has announced the closing of its second round. A category I alternative investment fund, overseen by Artha Group of companies has raised over ₹100 crores to invest in startups in seed to series A rounds.
“AVF’s hands on investment style is a mix of Western ethics and Indian pragmatism. We expect to make the final close of Rs 200 crore by April 2020,” Anirudh A Damani, fund’s managing partner said.
Artha Venture Fund is the early stage investment arm of the Artha Group of Companies. It is a part of the family office of Mr. Ashok Kumar Damani and Mr. Ramesh M. Damani (both ex-Directors of the Bombay Stock Exchange).
The fund’s investment strategy is to be the first institutional investor into early-stage companies with early revenues and put in ₹1-2 crore, with ₹10-15 crore held in reserve for follow-on rounds.
Anirudh further said that Artha India Ventures, as a family office, has invested in over 60 companies including BabyChakra, OYO Rooms, Tala, NowFloats, and Karza to name a few.
Artha Venture Fund counts the likes of Len-Den Club and Kabaddi-Adda, a kabaddi focussed online platform in its portfolio. It has also invested in Haazri, a quick service restaurant (QSR) that serves tea, coffee and snacks to corporates.
With this close, Artha Venture Fund has set its pace of completing one investment per month with an aim of completing over 15 investments by March next year.