TLDR:
- Aroa Venture Partners has onboarded SIDBI as its limited partner with a commitment of Rs 40 crore.
- The VC firm is launching a new fund with a target corpus of Rs 400 crore and is planning its first close by March next year.
Aroa Venture Partners, a venture capital firm known for investing in companies like Unacademy, Urban Company, and Cred, has recently onboarded the Small Industries Development Bank of India (SIDBI) as its limited partner. SIDBI has committed a total of Rs 40 crore to the firm, as revealed by founder and managing partner Gaurav Gulati in an interview with TOI.
The new fund being launched by Aroa Venture Partners has a target corpus of Rs 400 crore and was initiated in February. The firm is aiming to complete its first close by March of the following year, indicating strong interest and confidence in the potential of the fund.
With a successful track record of backing prominent companies in the Indian startup ecosystem, the partnership between Aroa Venture Partners and SIDBI signifies a significant milestone in the growth and development of the venture capital landscape in India. This collaboration is likely to bolster opportunities for emerging startups and entrepreneurs seeking funding and support to scale their ventures.
