Private Capital
Micro vc artha venture fund looks to back 40 early stage startups with “access” program
23 Sept 2021
1 min read
Artha Venture Fund (AVF), an early-stage micro venture capital (VC) fund, which recently closed its debut fund at INR 220-225 Cr, has announced a specialised program “Artha Access”, to fund up to INR 25 Lakhs in 40 early stage startups.
The VC firm has earmarked the corpus for the early-stage startups besides access to its network and ecosystem. In partnership with AVF, accelerators such as India Accelerator, Huddle and IIM Calcutta Innovation Park will also co-invest in the B2B, B2C and D2C startups and D2C enablers.
Post the initial capital infusion, the VC firm states that startups will also have the opportunity to secure funding INR 18 Cr ($2.5 Mn) from AVF in follow-on rounds.
The firm states, “India has witnessed significant growth in startup funding, with the first six months of 2021 touching $10.1 Bn with 543 deals, the startup ecosystem has already surpassed the $9.94 Bn raised in the whole of 2020.”