Artha Venture has raised funds up to INR 100 crore for its venture capital fund. This is the second close of the micro venture capital fund, as reported by the daily news, Mint
In 2018, the company made its first close of INR 40 Crore. By attaining a second close, the micro venture capital fund can begin investing in the companies and alongside, raising money from other investors.
Artha Venture fund is primarily led by Madhusudan Kela, Ex-investment head at Reliance Capital, Ramesh Damani and Ashok Kumar Damani, former directors at BSE. LenDenClub was the primary investment made by the fund.
Artha Venture Funds hands-on-investment style is a mix of western ethics and Indian pragmatism," Managing Partner of Artha Venture, Anirudh Damani said.
"We expect to make the final close of INR200 crore by April 2020," Damani added.
The micro venture capital fund mainly invests in three categories that are - consumption, B2B and consumption enabler, said Damani.
We have backed companies under these themes through our family office in the past and the portfolio has done extremely well," Damani said, as stated by a media report.
Formerly, Damani had invested money in startup companies with his family office. The invested companies are Tala, Exotel, Purplle, Fynd, OYO Rooms, Baby Chakra, Mobilewalla and so on.