The second close of Prath Ventures' INR 225 Cr fund was reached with a sum of INR 120 Cr raised. SIDBI Funds of Funds, along with a number of other angel investors and family offices, supported the second closing.
Prath, which was founded in 2022 by Piyush Goenka and Harmanpreet Singh, provides seed and Series A funding to companies. Jimmy's Cocktails is one of the three investments it claims to have made since its founding; the other two are currently a secret.
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Goenka said, “Our investment philosophy is rooted in our deep understanding of the consumer sector and our unwavering commitment to value creation. 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.”
With the raising of INR 50 Cr, the fund's first close was announced in January of last year. It was stated back then that this fund would invest between INR 5 Cr and INR 6 Cr in roughly 20 businesses.
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The government-backed fund of funds Avaana Sustainability Fund (ASF), which is focused on climate change, raised $24.5 million from the Green Climate Fund (GCF) for its inaugural anchored sustainability fund. SIDBI is now a part of this fund.
About Prath Ventures
Prath Ventures are early-stage venture firm that invests in Digital Consumer Businesses and their Enablers. As institutional investors, rigor and deep engagement is core to their style of investing.