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Former Alibaba, 9Unicorns executives launch Rs 1,000 Cr VC fund

Entrackr · 2m

Raghav Bahl, former head of investments at Alibaba Group’s India business, and Soham Avlani, ex-partner at 9Unicorns, have announced the launch of Rs 1,000 crore venture capital fund PROMAFT Partners. Prior to leading investments for Alibaba, Bahl was vice president at Bessemer Venture Partners, global fund with presence in US, Israel and India, while Avlani was a public market investor. The sector-agnostic fund plans to invest in companies that have proven ‘product-market-fit’. It also plans to make 10-12 investments with two-three investments in a year. The fund is also backed by Indian family offices and market leaders like Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse who will also double-up as mentors for the fund’s portfolio companies. The general partners plan to leverage their global investing experience across China, SEA and Europe to help startups in developing go-to-market and business strategy, hiring and financing.