Moneycontrol
Last Updated : Nov 24, 2017 07:42 PM IST | Source: Moneycontrol.com

Artha India to focus on Rs 1-Rs 6 crore cheques for startups in 2018

Artha India Ventures, the family office of former BSE director Ashok Damani has sought approval from market regular Sebi to set up a fund with a corpus of Rs 200 crore.

Priyanka Sahay @priyankasahay

While 2017 saw a steady growth in the angel and early stage investments, follow on rounds ranging from pre-Series A to Series B saw a gradual decline as compared to the two previous years.

In order to fill that void a bunch of venture funds are emerging in India. One such fund is Artha India Ventures that plans to focus on deals ranging between Rs 1 to Rs 6 crore.

Artha India Ventures, the family office of former BSE director Ashok Damani has sought approval from market regular Sebi to set up a fund with a corpus of Rs 200 crore.

“Sebi’s approval is expected to come by December end or January,” said Apurva Damani, director of Artha India Ventures adding that they already have commitments for the fund’s first close of Rs 40 crore.

The fund plans to start investing with the first close, as soon they get approval from Sebi.

“We will make about 40-45 investments,” said Apurva Damani.

In its existing avatar, Artha India Ventures has invested across 55 start-ups.

The family office of the Damani family will continue making investment in the early stage with ticket size ranging between Rs 15 and 30 lakh.

According to Apurva, the larger focus of the fund will be in sectors such as block chain, travel and fintech.

Talking about the reason why launching the fund was the next logical thing she said, “After investing in 55 companies, involving close to 90 rounds of paperwork, you realize that there are a lot of mistakes that you made."

Damani said that over the years, the family office has developed some learnings.

"What you avoid is high valuation, where the entrepreneur is not clear as to what their plan is. Now we have these processes in place,” she said.
First Published on Nov 24, 2017 07:42 pm
Sections
Follow us on
Available On