TLDR:
Former executives from Alibaba and 9Unicorns launch a new VC fund called PROMAFT Partners with an initial corpus of INR 1,000 crore. The fund is sector-agnostic and will focus on companies with proven product-market fit, making 10-12 strategic investments annually with 2-3 deals each year.
Article Summary:
Raghav Bahl and Soham Avlani have launched a new venture capital fund, PROMAFT Partners, with an initial corpus of INR 1,000 crore. The sector-agnostic fund plans to invest in companies that have achieved a proven product-market fit with the aim of making 10-12 strategic investments annually, consisting of 2-3 deals each year.
PROMAFT Partners’ general partners, Bahl and Avlani, bring extensive global investing experience and plan to assist startups in developing go-to-market strategies, business plans, hiring practices, and financing options. The fund is supported by Indian family offices and market leaders such as Paytm, Zomato, and Browserstack, who will also act as mentors to the portfolio companies.
Both Bahl and Avlani have managed large portfolios that include brands like Swiggy, Paytm, BigBasket, and have a track record of over USD 1 billion in profitable cash exits from India. This positions PROMAFT Partners as a promising new player in the venture capital landscape with high potential for growth and success.
