Alphatron Capital, formerly SMK Ventures, a US-based venture capital firm, has closed its maiden fund with $30 million. The fund, which was oversubscribed by 20 per cent, would focus on start-ups working in areas like enterprise SaaS (software-as-a-service), fintech, health tech, AI/ML, digital content, and direct-to-consumer (D2C) sectors.

“The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors. We will act as a gateway for US-based investors to participate in India’s growth story,” Suresh Vaswani, Founding Partner and Chairman of Alphatron Capital, said.

“We have a sector agnostic, tech-led approach to our investments that allows us to tap into India’s burgeoning technology landscape,” he said.

As a fund of funds, Alphatron Capital conducts extensive due diligence on multiple funds in India, targeting those with the greatest growth potential.

“With 11 fund-of-fund investments and five special purpose vehicle/Co-investments already made, Alphatron Capital remains committed to identifying and supporting innovative tech-led funds and co-investment opportunities,” Karan Negi, Founding Partner and CEO of Alphatron Capital, said.

“The successful completion of its first fund marks an important milestone in the company’s journey to fuel entrepreneurial ventures and support the next generation of category leaders,” he said.