Aroa Venture Partners has obtained a capital commitment of Rs 40 crore ($4.8 million) from Small Industries Development Bank of India (SIDBI) under the Government of India’s Fund of Funds for Startups and the Uttar Pradesh Government’s UP Startup Fund initiatives.
The support from two sovereign schemes demonstrates that the fund has also received significant interest from government officials.
The company has also appointed Sekhar Puli as general and managing partner. Puli, an experienced entrepreneur, sold REAN Cloud to Hitachi Vantara in 2018. He was also an investor in America’s private equity business, BV Investment Partners.
Aroa Venture Partners, founded in 2020 by Gaurav Gulati, makes early and growth-stage investments in a variety of areas. Aroa Ventures was first funded by RACo Holding Company, which is owned by Oyo’s founder Ritesh Agarwal. The investment group has already invested Rs 100 crore in 36 startups, including CRED, MPL, and Magicpin.
The Aroa is a Category II AIF that claims to have received over Rs 400 crore ($48 million) in commitments from family offices and institutions. It intends to complete its operations by the end of the current fiscal year in March 2025.
Aroa Venture Partners is a venture capital firm that invests in a variety of sectors and at various stages. Gaurav Gulati started Aroa Venture Partners in 2020 with the goal of creating India’s leading venture capital firm, supporting mission-driven entrepreneurs who produce both high profits and meaningful social impact.
Aroa’s management focuses on early to growth-stage firms across sectors. The company sees long-term opportunities to invest in companies with strong unit economics and potential for growth.
The organization prioritizes operational excellence and seeks to collaborate with reputable entrepreneurs to create sustainable enterprises.
Aroa’s skilled staff works with portfolio firms to accelerate growth and improve risk-adjusted returns, in addition to providing cash.
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