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Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr

EntrackrEntrackr · 11d ago
Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr
Medial

Artha India Ventures (AIV) has closed its follow-on fund, Artha Select Fund (ASF), at Rs 432 crore, 131% above its Rs 330 crore target. With this, Artha’s total Assets Under Management have crossed Rs 1,200 crore. ASF will invest in the top 15% of performers from Artha’s existing portfolio of over 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-launch AVF II. The fund will write Series B and C cheques of around Rs 20 crore each, for 12–14 winners over the next four years. With 33 exits to date, Artha claims to have built a proven track record of identifying and nurturing category leaders. ASF creates a capital bridge from early-stage to growth, addressing India’s “missing middle” funding gap where many Series A–C companies stall due to limited capital and a lack of operational support. According to Artha, Indian family offices and ultra-high-net-worth individuals anchor 80% of the fund’s capital, with the remaining 20% from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. Sponsor AIV has committed nearly 10% of the fund. ASF’s roster of backers includes household names such as Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures. “ASF allows us to stay invested in our most promising companies well into their scale-up phases,” said Anirudh A. Damani, Managing Partner of Artha Venture Fund & Artha Select Fund. “India has no shortage of promising ventures, but far too many face a capital drought between Series A and C. ASF ensures our winners have the firepower, strategic guidance, and operational backing to compete globally while preserving founder ownership and focus.” Artha, through its various funds, has backed startups such as OYO, Rapido, Purplle and Leverage Edu. Under the new fund, it has so far evaluated six companies and selected only spacetech startup Agnikul Cosmos, with an investment commitment of Rs 20–40 crore.

HDFC AMC invests in Athera's Rs 900 Cr Fund

EntrackrEntrackr · 8m ago
HDFC AMC invests in Athera's Rs 900 Cr Fund
Medial

Tech-focused venture capital fund Athera Venture Partners, previously known as Inventus India, has received investment from HDFC AMC'S Select AIF FoF I Scheme for its Fund IV which is scheduled to close in 2025. HDFC Fund of Funds will be a dominant LP in Athera's Rs 900 crore fund, which will invest in tech startups operating in consumer internet, enterprise software, AI, and other emerging technologies. Athera has invested in several startups, including Ati Motors (autonomous robotics), Terra (3D immersive gaming platform), ClickPost (logistics management software), Cyn:Lr (computer vision for robotics), Hyperbots (AI automation), and Billion Hearts (digital consumer products for a global audience). With these 6 investments, 30% of the portfolio is already constructed and the fund is already in the positive IRR territory. Over the next 18-24 months, Athera will invest in a dozen more such startups from its Fund IV. Overall, the VC firm has invested in over 40 companies so far, including category-defining ventures like redBus, PolicyBazaar, Pixxel, MoveinSync, Sokrati, FundsIndia, Euler Motors, BluArmor, Vunet, Healthifyme, Playshifu, Unbxd, and many more.

Atmosphere - The Store Makers raises Rs 5 Cr in seed round

EntrackrEntrackr · 8m ago
Atmosphere - The Store Makers raises Rs 5 Cr in seed round
Medial

Atmosphere–The Store Makers, a Mumbai-based innovator in retail and workspace fit-outs, has raised Rs 5 crore in a seed round co-led by Artha Venture Fund and PIL Italica Lifestyle Limited. The proceeds will be used to expand its offerings in the premium retail, hospitality, and workplace ‘Design & Build’ segments, led by its innovative design solutions researched in its factories. Founded by Nilesh Rathod, Atmosphere delivers bespoke solutions that align with the evolving demands of affluent consumers and luxury brands. The startup claims to have a track record of over 500,000 sq ft of premium retail work delivered. From its 60,000 sq ft manufacturing facility to its in-house design capabilities, Atmosphere delivers end-to-end solutions that reflect precision, innovation, and the ethos of each brand they serve. Atmosphere has delivered spaces for leading brands, including Aisshpra Gems and Jewels, Aza, Emporio Armani, Kalki Fashions, Akoirah, Kuuraku, Kamat Hotels, Libas, Michael Kors, and Tumi, among others. The brand is also launching a design lab to develop intricate design capabilities and streamline production.

Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche

EntrackrEntrackr · 1m ago
Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche
Medial

Venture capital firm Kettleborough VC, founded by early-stage investor Nisarg Shah, has launched its second fund with a target corpus of Rs 80 crore and announced a first close at Rs 35 crore. The fund is backed by a mix of family offices and entrepreneurs from India and the US. According to Kettleborough, Fund II will continue to invest in deeply experienced founders at the earliest stages, typically those with over 10 years of domain expertise and a strong execution focus. The firm will write initial cheques of $300,000–$500,000 in about 10 startups, with significant follow-on reserves for high-performing bets. Founded in 2021, Kettleborough VC has built a name as a conviction-led, construct-specific fund. Its Fund I backed 12 startups including Zippmat, InPrime, Finhaat, and Elivaas, nine of which received their first institutional cheque from Kettleborough. These portfolio companies have since raised follow-on rounds from investors like Omnivore, Lightspeed, 3one4, and Bessemer. “We only back founders for whom the startup is a natural outcome of a decade-long journey in their domain. Fund I has validated this thesis with strong portfolio traction and early PMF. Fund II doubles down on this conviction,” said Shah. Kettleborough added that it focuses on “Dhandha-first” businesses, with interest across financial services, commerce infrastructure, and vertical SaaS/AI platforms. Shah has personally backed over 30 startups, with 10 exits and 80 follow-on rounds, including hits like Foxtale, Onebanc, and Homeville.

Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr · 5m ago
Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon
Medial

Singularity AMC, a growth equity platform for private and PIPEs, has announced that its second PE fund, Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed at Rs 1800 crore. Launched in August 2023 with a Rs 1,500 crore corpus and a Rs 500 crore green shoe option, the fund saw strong investor interest, securing its first close at Rs 500 crore within a month. It focuses on Energy Transition, next-generation industrials, Consumer, Healthcare, and Financial Services. SGOF II has already backed eight companies, including Lohum, a battery recycling startup; HEG, an energy transition platform such as Sterling & Wilson Data Centre, a data center EPC provider, Sabine, an IVF healthcare company, Classic Legends, the maker of JAWA motorcycles, Qucev, a sustainable EV manufacturer and Deal 7, a luxury watch retailer. Over the next two years, the fund aims to invest Rs 75-175 crore in 12-15 companies. Founded in 2016, Singularity AMC is led by Yash Kela and Mithun Sacheti. The firm manages three funds and has invested in Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its first fund achieved a 30% IRR and is on track to reach 3x MOIC. The fund follows a structured investment approach, with 40% allocated to late-stage companies, 40% to profitable growth-stage firms, and 20% to high-conviction venture-stage opportunities. Its current portfolio is valued at Rs 492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.

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