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Venture debt fund ValuAble appoints PE veteran Ajay Mittal as General Partner and Investment Manager

Sumit Vishwakarma
New Update
ValuAble appoints PE veteran Ajay Mittal

ValuAble, India’s first purpose-led venture debt fund, has appointed Ajay Mittal as General Partner (GP) and Investment Manager (IM).

Mittal's joining aims to expand the venture debt fund, leveraging his extensive network within the ecosystem, institutional investor connections, and institutional fundraising experience.

A veteran with over 3 decades of experience

Ajay Mittal brings over thirty years of experience in fund management, venture capital/private equity, and investment strategy to ValuAble. He has a notable career marked by significant achievements.


An alumnus of Delhi University's Shri Ram College of Commerce, Mittal is also a rank-holder Chartered Accountant.

He began his finance career with Unit Trust of India in 1993, where he quickly rose to manage the country’s first offshore tracker fund. His career from 2000 to 2009 saw him raise and manage two successful venture capital/private equity funds at UTI Venture Fund.

Key roles and achievements

In 2009, Ajay Mittal co-founded Ascent Capital, establishing it as a significant player in private equity with investments across various sectors, including retail, commerce, technology, pharma, and infrastructure.

His strategic acumen was further demonstrated in 2023 when he became a shareholder and Director at Laqshya Media, a leading Indian media company. Mittal's ability to navigate diverse industries highlights his versatility as an investment leader.

Ajay Mittal's vision for ValuAble

Ajay Mittal expressed his enthusiasm about joining ValuAble, stating, "I am elated to join the passionate team at ValuAble and leverage my professional experience towards their inspiring mission. Backing innovative founders working to solve critical issues has been a personal calling, and ValuAble provides the perfect platform to create lasting impact in society." 

Rahul, Co-Founder of ValuAble, commented on Mittal's appointment, saying, "Having been associated with Ajay since 2019, what I truly admire about Ajay is his grounding, passion for making a difference, ability to bring people together, and his knack for putting others on a higher pedestal. He is solution-oriented, has clarity of execution, and excels at aligning stakeholders. Ajay's extensive experience and strategic vision will be invaluable to ValuAble as we continue to support innovative and impactful ventures."

Notably, ValuAble is poised to close its first fund soon, targeting an amount of Rs 200-250 crore and is in discussions with over 50 startups for potential investments.