Prath Ventures raises Rs 120 Cr in second close of maiden fund
Prath Ventures will invest in consumer-centric businesses and has already made three investments.
Prath Ventures, a Mumbai-headquartered venture capital (VC) firm, has raised Rs 120 crore as the second close of its maiden fund.
According to a statement, the second close of the fund saw participation from SIDBI Funds of Funds and undisclosed startup founders and family offices.
The VC firm is targeting its final close in the coming months and is looking to deploy the corpus in the next 18-24 months.
Founded by Piyush Goenka and Harmanpreet Singh, Prath Ventures invests in seed and Series A funding rounds with a focus on consumer-centric ventures. The fund started making investments in the middle of 2023 and its portfolio includes Jimmy’s Cocktails and Aukera Jewellery.
“The fund will seek to deliver the best of Indian consumption opportunity to our LPs while adhering to the highest standards of institutional fund management,” said Harmanpreet Singh, Co-founder of Prath Ventures.
Prath Ventures co-founders have experience working at private equity firms with a track record of investing over Rs 1,700 crore in consumer businesses like Industries, , , , etc.
"By providing early-stage companies with not just capital but also strategic guidance and operational support, we aim to catalyse their growth trajectory and unlock their full potential," said Piyush Goenka, Co-founder of Prath Ventures.
Before founding the VC firm, the co-founders backed over 20 startups as angel investors, including Believe Pte, Style Bazaar, , , , , , and others.
Edited by Suman Singh
