Artha Venture to fund 10 startups before FY22 ends
Artha Venture Fund announced that it will be aiming to fund between 10-11 new startups before the end of the current financial year (FY22). The Mumbai-based investment fund announced that the cheque sizes will range from Rs. 1.5 crore to 4 crore with 13 to 18 percent equity for early-stage startups- preferably with a monthly revenue of Rs. 7 to 10 lakh.
Anirudh Damani, managing partner at Arthra Venture stated in an interview, “When we start working with our portfolio companies, more than half of our team is involved in building the firm with them. We do take a higher equity share but in return they (startups) get an investor, who understands their business area in and out. One of our portfolios has grown their revenue by 4x in 6 months with no increase in the burn, which means the growth was fully funded by customers — not investors.”
The company also claimed that their cheque size will rise toa range of Rs 18 crore to Rs 20 crore during follow-on or Series A rounds, depending on the startup’s performance.
The investment fund has previously invested in 12 startups including LenDenClub, Daalchini Technologies, and Kabaddi Adda.
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