Dharana Capital Raises $250M India Fund

New Delhi, Jan 12 (PTI) Venture growth investment firm Dharana Capital on Monday said it has raised USD 250 million (about Rs 2,254 crore) for its second India fund to invest in next-generation technology and consumer businesses over the next three years.

With this latest fundraise, which comes three years after its inaugural fund, the firm's total Assets Under Management (AUM) have reached USD 450 million, the company said in a statement.

The capital for Fund II was primarily raised from US-based university endowments, healthcare systems, and other non-profit organisations.


“At Dharana, our vision is to back missionary founders building large, standalone, durable, listed businesses. We believe India's listed tech market cap will grow multi-fold over the next decade as more new-age enterprises go public. Our goal is to partner with a select few and play a meaningful role in this value creation," Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, said.

The firm's first fund is now mostly deployed, with some capital set aside for follow-on investments in its existing portfolio, the company said.

Dharana Capital's current portfolio includes notable names such as Urban Company, LAT Aerospace, Petpooja, Vyapar, Botlab/Vayudh, Itilite, and Beyond Appliances.