IVY Growth Launches INR 250 Crore Sector-agnostic VC Fund 'Arigato Capital' It will look to back agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies
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Surat-based micro venture capital firm IVY Growth Associates, on Tuesday, announced the launch of Arigato Capital, a SEBI-registered Category I AIF Venture Capital (VC) fund. The fund will be a sector-agnostic one and will have a target corpus of INR 250 crore.
Arigato Capital aims to begin raising capital in June 2024 and plans to close all commitments over the next 15 to 18 months. It will look to back agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies.
The fund is founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, with IVY Growth Associates serving as a limited partner. Arigato Capital is aiming a first close at INR 100 crore and will focus on startups beyond the seed stage or in pre-series A stages, with an average ticket size of USD 500,000.
According to the release, through Arigato Capital, IVY Growth is looking to establish and expand a global corridor to connect angel investors and startups, with a focus on the Middle East, the US, and Europe.
