Investment

IVY Growth Associates Launches Rs 250 Crore Venture Capital Fund, Arigato Capital

• ByStartupStory     |    May 20, 2024

IVY Growth Associates, a prominent micro venture capital firm, has announced the launch of Arigato Capital, a SEBI-registered Category I AIF VC fund, with a target corpus of Rs 250 crore. This sector-agnostic fund is set to invest in startups across a variety of emerging sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies.

Arigato Capital aims to begin raising capital in June 2024, with plans to close all commitments over the next 15 to 18 months. The fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-Series A stages, offering an average ticket size of $500,000.

The VC fund was founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, with IVY Growth Associates serving as a limited partner. Through Arigato Capital, IVY Growth intends to establish and expand a global corridor to connect angel investors and startups, with a special focus on the Middle East, the US, and Europe.

In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21BY72, from June 15 to June 16 in Surat. The summit is expected to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors.

IVY Growth Associates has a strong track record, having invested in over 100 growth-stage startups. The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVY’s portfolio includes notable brands such as Rupeek, BluSmart, and Zappfresh.

In October 2023, IVY Growth announced plans to launch IVY Growth Fund, a $30 million VC fund aimed at revenue-based and traction-based startups, set to begin in FY25.

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