Micro venture capital firm IVY Growth Associates has announced the launch of Arigato Capital, a SEBI-registered Category I AIF Venture Capital (VC) fund, targeting a corpus of Rs 250 crore.
This sector-agnostic fund aims to invest in startups across various sectors including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies, according to a press release.
Arigato Capital plans to commence capital raising in June 2024, with intentions to secure all commitments over the next 15 to 18 months.
The fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-Series A stages, offering an average ticket size of $500,000.
Founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, IVY Growth Associates has a track record of investing in over 100 growth-stage startups.
The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVY’s portfolio includes notable brands such as Rupeek, BluSmart, and Zappfresh.
In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21 BY 72, from June 15 to June 16 in Surat. The summit is anticipated to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors.
The introduction of Arigato Capital is expected to significantly enhance IVY Growth Associates’ ability to support innovative startups and contribute to the growth of the entrepreneurial ecosystem in India. By targeting a wide array of sectors and focusing on early to growth-stage companies, Arigato Capital aims to foster innovation and drive substantial economic impact.
