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Venture growth investment firm Dharana Capital has raised USD 250 million, or about INR 2,254 crore, for its second India-focused fund, strengthening its presence in the country's technology and consumer investment space. The fund will be deployed over the next three years to back next-generation businesses with scalable and listing-ready potential. With this raise, Dharana Capital's assets under management have reached USD 450 million. Most of the capital has come from US-based institutional investors, reflecting sustained global interest in India's growth story. The firm plans to continue its focused investment approach, supporting a select set of founders across technology, enterprise software, aerospace, and consumer services as India's public markets expand for new-age companies.
Venture growth investment firm Dharana Capital on Monday said it has raised USD 250 million, or about INR 2,254 crore, for its second India-focused fund. The capital will be deployed over the next three years to invest in next-generation technology and consumer businesses. Advertisement
With the close of Fund II, Dharana Capital's total assets under management have reached USD 450 million. The firm said this fundraising comes three years after the launch of its inaugural fund, marking a steady expansion of its investment platform in India.
According to the company, the majority of the capital for the second fund has been raised from institutional investors based in the United States. These include university endowments, healthcare systems, and other non-profit organisations, reflecting continued global interest in India's technology-led growth story.
Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, said the firm aims to support founders building independent and scalable businesses with the potential to become listed companies over time. He added that the firm expects India's listed technology market capitalisation to expand significantly in the coming decade as more new-age companies enter public markets.
Dharana Capital said its first fund is now largely deployed, with a portion of the remaining capital reserved for follow-on investments in existing portfolio companies. The firm follows a focused investment approach, partnering with a limited number of companies and working closely with founders through their growth journey.
The current portfolio of Dharana Capital includes companies operating across technology, aerospace, enterprise software, and consumer services. Some of its investee companies include Urban Company, LAT Aerospace, Petpooja, Vyapar, Botlab and its defence technology platform Vayudh, Itilite, and Beyond Appliances.
The firm said Fund II will continue to back businesses that are building products and services for large domestic and global markets, with a focus on long-term value creation. Investments are expected to span multiple stages of growth, with an emphasis on companies that demonstrate strong fundamentals and clear paths to scale.
Dharana Capital's latest fundraise highlights the continued flow of long-term capital into India's technology and consumer sectors, even as global investment conditions remain selective.
Source: PTI
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