Artha India Ventures announces final close of its fund to invest in top portfolio startups

Artha India Ventures (AIV) has announced the final close of its “winners-only” follow-on vehicle, Artha Select Fund (ASF), at Rs 432 crore, surpassing its original target of Rs 330 crore by 31%.

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With this close, AIV’s total Assets Under Management (AUM) have now crossed Rs 1,200 crore. ASF will back the top 15% of performers from Artha’s existing portfolio of more than 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-be-launched AVF II. Over the next four years, the fund plans to invest Rs 20 crore each in 12–14 portfolio startups at the Series B and C funding stages.

Artha’s flagship microVC fund, Artha Venture Fund I, holds the distinction of being India’s first SEBI-registered microVC and is ranked No. 1 in India for 2019 vintage returns and No. 2 globally. ASF builds on this performance by bridging the capital gap between early and growth stages, often referred to as India’s “missing middle,” where many Series A–C startups stall due to limited funding and lack of operational support.

“ASF allows us to stay invested in our most promising companies well into their scale-up phases,” said Anirudh A. Damani, Managing Partner of Artha Venture Fund & Artha Select Fund.

He added that the fund would provide winners with the capital, strategic guidance, and operational resources needed to scale globally while protecting founder ownership.

Indian family offices and ultra-high-net-worth individuals anchor 80% of the fund’s capital, with the remaining 20% from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. Sponsor AIV has committed nearly 10% of the fund. ASF’s roster of backers includes household names such as Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures.