The Aroa Opportunities Fund has garnered in-principle commitments exceeding INR 400 Cr to date
The firm plans to deploy cheques of INR 4 Cr to INR 40 Cr across 20-25 startups from the new fund
Gulati also mentioned that the fund has set aside an additional INR 400 Cr as a greenshoe option
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Aroa Venture Partners has reportedly launched a new fund targeting an INR 400 Cr ($50 Mn) corpus.
The Aroa Opportunities Fund, which obtained registration as a category II alternative investment fund (AIF) with the Securities and Exchange Board of India (SEBI) in October 2022, has garnered in-principle commitments exceeding INR 400 Cr to date, ET reported.
Gaurav Gulati, founder and managing partner, mentioned their investment approach covers seed to Series C. They will lead investments in seed to Series A rounds and co-invest in Series B and C.
The firm plans to deploy cheques of INR 4 Cr to INR 40 Cr across 20-25 startups from the new fund, he said.
Gulati also mentioned that the fund has set aside an additional INR 400 Cr as a greenshoe option, on top of the final fund corpus.
The fund will adopt a predominantly multi-sector approach. Nonetheless, real estate and Web3 are excluded from its investment scope. Real estate is considered mature, with abundant capital available for ventures in this domain. While Web3 presents compelling potential, the VC is yet to identify scalable and commercially viable use cases to build conviction.
Aroa Venture Partners, founded in 2020 by Gaurav Gulati. is a venture capital firm with a multi-sector and multi-stage investment strategy. It focuses on early to growth-stage businesses across sectors.
Recently, it was reported that fund Endiya Partners, which counts Darwinbox, Cult.fit, Kissht, Sigtuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo and Scrut Automation among its portfolio companies, is looking to launch its third fund for a corpus ranging between INR 800 Cr and INR 1,000 Cr ($100-$125 Mn).
As per Inc42 report, 2023 saw the announcement and launch of 64 funds, including venture capital funds, micro-funds, and corporate VC funds. These funds amounted to over $5.6 Bn. In comparison, 2022 witnessed the launch of 126 funds, raising over $18 Bn for startup investments.
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