With a target corpus of Rs 400 crore (roughly $50 million), venture capital firm Aroa Venture Partners has opened a new fund.
In October 2022, Aroa Opportunities Fund registered with the Securities and Exchange Board of India (Sebi) as a category II alternative investment fund (AIF). To date, the fund has received over Rs 400 crore in in-principal commitments.
From the new fund, the company intends to distribute checks to 20–25 startups, ranging in value from Rs 4 crore to Rs 40 crore. The fund has designated an additional Rs 400 crore as a greenshoe option, in addition to the final fund corpus.
Founded by Gaurav Gulati in 2020, Aurora Venture Partners concentrates on early- to growth-stage companies in a variety of industries. Ritesh Agarwal, the CEO and founder of Oyo, is the only limited partner.
Endiya Partners, which has backed companies like Mylo, Scrut Automation, Zluri, Qapita, Cult.fit, Kissht, Sigtuple, Darwinbox, and Eyestem, recently revealed that it intends to open its third fund with a corpus of between Rs 800 crore and Rs 1,000 crore.
