Artha India Ventures on Monday announced the final close of the Artha Select Fund (ASF) at $49.36 million, exceeding its original target of $37.7 million.
With this close, Artha’s total assets under management (AUM) has now surpassed $137.16 million, the firm said in a statement.
Indian family offices and ultra-high-net-worth individuals anchored 80% of the fund’s capital, with 20% coming from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the remaining 10% contributed by the U.S. Sponsor AIV, per the statement.
ASF’s roster of backers includes Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures.
ASF is designed to back the top 15% of high-performing startups from Artha’s portfolio of over 135 companies, spanning Artha Venture Fund I, Artha Continuum Fund, and the upcoming Artha Venture Fund II, the statement added.
Over the next four years, ASF will deploy Series B and C cheques of approximately $2.29 million each across 12 to 14 portfolio winners.
“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, Beardo, Purplle, Exotel, and Leverage Edu. Under the new fund, it has so far selected only spacetech startup Agnikul Cosmos for investment. The firm has made 33 exits to date.
