US-Based Alphatron Capital Closes Maiden Fund At $30 Mn To Invest In Indian Startups

• ByStartupStory     |    March 22, 2024

Alphatron Capital, formerly SMK Ventures, a US-based venture capital firm, has successfully closed its inaugural fund with a whopping $30 million, surpassing its initial target. The oversubscribed fund, which saw a 20 per cent surge in investor interest, is earmarked for investment in promising Indian startups operating across various sectors including enterprise SaaS (software-as-a-service), fintech, health tech, AI/ML, digital content, and direct-to-consumer (D2C).

Suresh Vaswani, Founding Partner and Chairman of Alphatron Capital, expressed enthusiasm about the burgeoning opportunities in the Indian market, driven by technological advancements. In his statement, Vaswani said, “The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors. We will act as a gateway for US-based investors to participate in India’s growth story.”

The investment strategy of Alphatron Capital revolves around a sector-agnostic, tech-led approach, allowing it to tap into India’s flourishing technology landscape, as highlighted by Vaswani: “We have a sector agnostic, tech-led approach to our investments that allows us to tap into India’s burgeoning technology landscape.”

As a fund of funds, Alphatron Capital meticulously conducts extensive due diligence on multiple funds in India, focusing on those with the highest growth potential. Karan Negi, Founding Partner and CEO of Alphatron Capital, emphasized the company’s commitment to identifying and supporting innovative tech-led funds and co-investment opportunities: “With 11 fund-of-fund investments and five special purpose vehicle/Co-investments already made, Alphatron Capital remains committed to identifying and supporting innovative tech-led funds and co-investment opportunities.”

Negi also noted the significance of completing the first fund, marking a crucial milestone in Alphatron Capital’s journey to bolster entrepreneurial ventures and nurture the next generation of category leaders: “The successful completion of its first fund marks an important milestone in the company’s journey to fuel entrepreneurial ventures and support the next generation of category leaders.”

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