Mumbai-based Artha India Ventures (AIV) has marked a significant milestone with the close of its follow-on fund, Artha Select Fund (ASF), at ₹432 crore—overshooting its target by 131%. With this close, Artha’s Assets Under Management (AUM) have now crossed ₹1,200 crore, strengthening its position as one of India’s most active venture investment platforms.
ASF has been designed with a focused strategy—backing the top 15% performers from Artha’s expansive portfolio of 135+ startups across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-launch AVF II. The fund will place Series B and C cheques of around ₹20 crore each into 12–14 category-defining companies over the next four years.
The “missing middle” in India’s startup ecosystem—the tricky funding gap between Series A and Series C—is what ASF aims to solve. Many startups stall at this stage due to limited capital flow and inadequate operational guidance. ASF steps in to bridge that gap, not just with capital but also with strategic and operational support.
“India has no shortage of promising ventures, but far too many face a capital drought between Series A and C,” said Anirudh A. Damani, Managing Partner, Artha Venture Fund & Artha Select Fund. “ASF ensures our winners have the firepower, strategic guidance, and operational backing to compete globally while preserving founder ownership and focus.”
The fund has already begun deploying capital, with spacetech startup Agnikul Cosmos becoming ASF’s first pick. Artha has committed ₹20–40 crore to the Chennai-based rocket maker, underscoring its appetite for futuristic, globally scalable bets.
ASF has drawn strong interest from Indian family offices and ultra-HNIs, who anchor 80% of the fund, while the remaining 20% comes from global LPs spanning Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. AIV itself has backed the fund with nearly 10% of its corpus. Its roster of investors includes Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures.
Artha, which has already seen 33 successful exits, counts OYO, Rapido, Purplle, and Leverage Edu among its portfolio successes. ASF’s launch comes at a time of growing activity in the venture landscape—just days after Speciale Invest announced the close of its third fund at ₹600 crore.
With ASF, Artha is doubling down on its conviction that India’s next generation of category leaders won’t just emerge—they’ll be equipped to scale globally.
