Aroa Venture Partners Secures Rs 40 Cr Investment from SIDBI and UP Govt Funds

Mumbai: Aroa Venture Partners, a category-II AIF (Alternative Investment Fund), has received a significant boost in the form of Rs 40 crore ($4.8 million) capital commitment from the 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 schemes.

This latest injection of capital underscores the fund’s strong interest from government-backed initiatives, which is likely to accelerate its plans to reach its final close by the end of the ongoing fiscal year (March 2025). Notably, Aroa Venture has promised commitments from family offices and institutions exceeding Rs 400 crore ($48 million) so far.

Founded in 2020 by Gaurav Gulati, Aroa Venture Partners has already demonstrated its efficacy in investing in early and growth-stage investments across various sectors. The fund has deployed Rs 100 crore across 36 startups, including well-known entities like CRED, MPL, and Magicpin.

To further bolster its capabilities, the fund has appointed Sekhar Puli as its general and managing partner. Puli is a seasoned entrepreneur, having sold REAN Cloud to Hitachi Vantara in 2018. He also has experience as an investor at America’s private equity firm BV Investment Partners.

This significant development is a testament to Aroa Venture Partners’ commitment to nurturing innovation and supporting the growth of startups in India. With this new capital and the expertise of Sekhar Puli, the fund is poised to continue its mission of promoting entrepreneurship and economic growth in the country.