Aroa Venture launches $50 Mn fund

Venture capital firm Aroa Venture Partners 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, according to an ET report.

The firm plans to deploy cheques ranging from Rs 4 crore to Rs 40 crore across 20-25 startups from the new fund. The fund has marked another Rs 400 crore over and above the final fund corpus as a greenshoe option.

Floated in 2020 by Gaurav Gulati, ​Aroa Venture Partners focuses on early to growth-stage businesses across sectors. Now, Aroa has multiple limited partners including Oyo founder and CEO Ritesh Agarwal. Entrackr had exclusively reported about the fund launch.

Recently, Endiya Partners, which has backed Darwinbox, Cult.fit, Kissht, Sigtuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo and Scrut Automation, announced that it is looking to launch its third fund for a corpus ranging between Rs 800 crore and Rs 1,000 crore.