Prath Ventures, a Mumbai-based venture capital firm, has achieved a significant milestone by raising Rs 120 crore in the second close of its inaugural fund. This development underscores the growing confidence in the Indian startup ecosystem despite ongoing market challenges.
Fundraising Details
The latest close of the fund witnessed participation from SIDBI Funds of Funds, along with undisclosed startup founders and family offices.
This infusion of capital signals a strong vote of confidence from both institutional and individual investors in Prath Ventures’ investment strategy and market potential.
Expansion Plans
With this successful fundraising round, Prath Ventures is strategically positioning itself for further growth and expansion. The firm is now actively targeting its final close in the coming months.
Moreover, Prath Ventures aims to deploy the raised corpus over the next 18-24 months, capitalizing on lucrative investment opportunities within the consumer-centric segment.
Investment Focus
Founded by Piyush Goenka and Harmanpreet Singh, Prath Ventures specializes in seed and Series A funding rounds, with a primary focus on consumer-centric ventures. The firm’s investment philosophy revolves around identifying promising early-stage companies and nurturing them into market leaders.
Notable Investments
Prath Ventures has already made significant strides in the investment landscape since its inception in 2023.
Some of the notable additions to its portfolio include Jimmy’s Cocktails and Aukera Jewellery, reflecting the firm’s commitment to backing innovative and high-potential ventures.
Visionary Leadership
Commenting on the firm’s mission and vision, Harmanpreet Singh, Co-founder of Prath Ventures, stated, “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.”
This vision underscores Prath Ventures’ dedication to generating value for its Limited Partners (LPs) while upholding rigorous investment practices.
Experienced Leadership Team
Both co-founders of Prath Ventures bring a wealth of experience to the table, having worked extensively in private equity firms. With a proven track record of investing over Rs 1,700 crore in consumer businesses
such as Safari Industries, PVR, Good Glamm Group, and Vastu Housing, Piyush Goenka and Harmanpreet Singh are well-equipped to navigate the complexities of the investment landscape.
Value-Driven Approach
Piyush Goenka, Co-founder of Prath Ventures, emphasized the firm’s commitment to providing more than just capital to early-stage companies. “By providing early-stage companies with not just capital
but also strategic guidance and operational support, we aim to catalyze their growth trajectory and unlock their full potential,” he stated.
Angel Investment Track Record
Prior to establishing Prath Ventures, both co-founders had a successful stint as angel investors, backing over 20 startups. These include well-known names such as Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp, and others. This rich experience serves as a testament to their astute investment acumen and deep-rooted understanding of the startup ecosystem.
Conclusion
As Prath Ventures continues to carve a niche for itself in the VC landscape, its recent fundraising success underscores the growing investor appetite for innovative and disruptive ventures. With a seasoned leadership team at the helm and a robust investment strategy in place, Prath Ventures is poised to make significant contributions to India’s startup ecosystem in the years to come.
Read More On: Thestartupscoup.Com
