VC firm Asha Ventures marks the first close of a new fund with a $50 million corpus.

Asha Ventures is a Mumbai-based company. It has raised around $50 million to mark the first closing of its new fund, Asha Ventures Fund I. This capital firm is aiming to raise around $100 million in total to invest. They are going to invest in companies that will target the middle class in sectors like financial services, agriculture, healthcare, climate, etc.

The firm is also going to focus on making initial growth-stage investments. The fund has gotten commitments from various renowned domestic institutions like the Small Industries Development Bank of India and the Self-Reliant India Fund, along with a private sector bank, family offices, etc., according to a statement.

About Asha Ventures and its investments

The firm is led by Vikram Gandhi, Amit Mehta, and Aditi Gupta, along with Pramod Bhasin. It has made various notable investments in firms like Avanti and Addaa247, along with healthcare startups Truemeds, etc.

Asha Ventures has made the final commitments for the initial investment. They are aiming to back around four to five companies each year. It is to realize a vision of nurturing a sustainable and inclusive India.’

According to Pramod Bhasin, who is the founding partner at Asha Ventures, ‘We believe this is the best time for tech-led inclusive funding models to develop in India. Also, it is the right timing to fund businesses that are beneficial to solving the important needs revolving around financial inclusion, employability, and even healthcare.

Also, S. Ramann who is the SIDBI’s chairman and managing director, said, ‘India and its emerging middle class of around 500 million people need innovative solutions. It is essential to have access to various equitable opportunities. Startups are the main driver of this innovation. Asha Ventures is the pioneer in catalyzing domestic capital to support these startups when it comes to inclusion and sustainability.’

According to Vikram Gandhi, ‘At Asha Ventures, we have established since 2015 that working well while doing well can lead to scalable investment. We are happy and excited about the opportunity that lies ahead of us. The role of us will help in shaping a more equitable and sustainable future for India.’

Vikram Gandhi is a faculty member of Harvard Business School. Gandhi is a senior advisor on the investment board of the Canada Pension Plan. Also, Gandhi was the vice chairman of investment banking and even the global head of the various financial institution businesses in New York as well as Hong Kong

Leave a Reply

Your email address will not be published. Required fields are marked *