Prath Ventures Raises Rs 120 Crore to Boost Indian Startups
- ByStartupStory | March 14, 2024
Venture capital firm Prath Ventures has successfully raised Rs 120 crore in a second close, co-led by SIDBI Funds and other investors. The fund aims to capitalize on Indian consumption opportunities while upholding institutional fund management standards, as stated in a press release by Prath Ventures.
“India’s consumption is forecasted to surpass $4 trillion by 2030,” according to a Morgan Stanley report, highlighting the immense potential in the market.
Established in 2022 by Piyush Goenka and Harmanpreet Singh, Prath Ventures specializes in investing in digital consumer businesses and their enablers, primarily focusing on the seed to Series A stage. So far, the firm has made three investments, including beverage maker Jimmy’s Cocktails and undisclosed investments in consumer brands within the lifestyle and travel sector.
“Our goal is to leverage our industry experience and network to support early-stage startups in scaling their businesses and achieving sustainable growth,” stated Prath Ventures. The company integrates private equity-style rigor and deep portfolio management into its investment approach.
Prath Ventures boasts a portfolio of over 20 startups, including Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp, and others, showcasing its commitment to nurturing promising ventures.
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