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Artha Group has announced the launch of its ₹450 crore micro venture capital fund—Artha Select Fund (ASF).
The Pune-based Kirloskar Family Office, the family office of former Reliance Capital Chief Investment Strategist Madhusudan Kela, Abhinav Sinha (MD–British International Investment), Narendra Karnavat of CA firm Karnavat and Co., Jashvant Raval of JCR & Co, Mumbai-based listed firm SAT Industries, Varun Bansal of Jayashree Polymers, Rajiv Lakhotia of Shree Karni Fabcom, and other investors have backed this fund. Abhinav Sinha will also be joining the investment committee at ASF.
ASF will back start-ups from Artha’s portfolio in their follow-on rounds.
The fund will commit up to ₹20 crore in the Series B round and an additional ₹20 crore in the Series C round in start-ups where Artha is already an investor. ASF will back 12-14 start-ups through this vehicle.
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As per the report, Bengaluru, Mumbai and Delhi-NCR were the top cities attracting the maximum investmentsArtha announced the final close of AVF in June 2021 at over ₹225 crore, exceeding its target corpus of ₹200 crores. The fund has made 27 investments so far, with a combined valuation of over ₹3,600 crore.
Anirudh A Damani, Managing Partner, Artha Select Fund, said, “We are ecstatic with the fantastic response to our winner’s Fund. We see early-growth rounds as an amazing investment opportunity to back founders at a critical inflection point in their venture journey. With ASF, we provide our founders with the added firepower to chase sound business metrics like revenues, positive unit economics, and profitability.”
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