Aroa Venture Partners launches $50 million fund
Aroa Venture Partners, a 2020-founded venture capital firm that invested in companies such as Unacademy, Urban Company and Cred, has launched a new fund with a target corpus of Rs 400 crore (about $50 million).
Aroa Opportunities Fund, which registered as a category II alternative investment fund (AIF) with Securities and Exchange Board of India (Sebi) in October 2022, has received in-principle commitments of over Rs 400 crore so far, founder and managing partner Gaurav Gulati told ET in an interaction.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisit“We plan on investing from seed to Series C. From seed to Series A, we will always lead the round and Series B and C, we will not lead but instead co-invest,” Gulati said.
The fund has marked another Rs 400 crore over and above the final fund corpus as a greenshoe option, Gulati added.
The firm plans to deploy cheques of Rs 4 crore to Rs 40 crore across 20-25 startups from the new fund, he said.
Aroa Venture Partners also has a feeder vehicle in Singapore, which helps pool investment capital to invest into the master fund, he added.
«Our approach is largely multi-sector. However, real estate and Web3 are on the negative list. Real estate as a sector has matured, and we believe there are sufficient pools of capital available to take ventures in this
