Ankita Vashishtha’s Saha Fund exits JoulestoWatts with 40x return

Saha Fund, has successfully exited its investment in JoulestoWatts Business Solutions Pvt. Ltd. (J2W), realizing an exceptional 40× return.

The fund said the deal ranks among India’s most successful buybacks in recent years. Arise Ventures, a new fund launched by Saha Fund founder Ankita Vashishtha, is continuing the investment strategy with a Rs 500 crore fund focused on enterprise, consumer technology and health care technology.

Founded in 2015 by Vashishtha, Saha Fund was India’s first women-focused technology venture fund, backing women-led and technology-driven businesses. Saha Fund invested in JoulestoWatts in 2016, identifying its potential to help Fortune 500 companies build and expand Global Capability Centers (GCCs) through a technology-driven approach.

JoulestoWatts, a woman-led company, now partners with more than 300 GCCs and 70% of Fortune 500 clients across information technology, banking, financial services, insurance and health care sectors.

“Our investment in JoulestoWatts was driven by the belief that India’s technology talent models were ripe for disruption. The company’s growth into a leading player in the space, and the outcome of this exit, reinforce our approach of backing founders early and supporting them through every stage of their journey,” said Ankita Vashishtha, Founder and Managing Partner of Arise Ventures (previously Saha Fund).

JoulestoWatts has grown from a boutique consultancy into a digital business platform that uses AI–powered centers of excellence to provide solutions in AI, cybersecurity, cloud computing, SAP and data analytics.

The company said it has reported a tenfold year-over-year revenue increase, 50% growth in client acquisitions, and a workforce of more than 5,000 consultants.

Priti Sawant, Founder and CEO at JoulestoWatts, said, “Our 40× Multiple on Invested Capital (MOIC) on JoulestoWatts is a strong validation of our early confidence in Priti and her vision for the company,” said Vashistha. “It also reinforces our commitment to supporting women-led enterprises that are shaping the future of technology and innovation in India.”

With over 50 investments across three funds, Arise Ventures’ portfolio includes unicorns such as Licious, Uniphore, Fitternity (now CultFit), and Phenom.