ValuAble hits first close of maiden investment vehicle at 25 % of target
ValuAble Partners, a venture debt firm established by Rahul Gupta, former head of financial sponsors coverage at Axis Bank, has successfully closed its first fund, raising approximately $25 million. The firm, which was set up last year, is raising Rs 850 crore (around $101 million) for its maiden fund. Gupta confirmed the development but did not disclose further details about the fund s close. ValuAble remains focused on its deployment strategy, targeting areas of climate, inclusion, and Bharat. The firm aims to mainstream inclusion while delivering ALPHA to investors through its unique bank partnership. It has established partnerships with IDFC Bank, StockHolding, KFinTech, Rasta, Catalyst, and EY. The fund plans to invest in companies in the pre-Series A and Series A funding stages, with investments ranging from $2.5 to $4 million per company. ValuAble invests in focus areas such as healthcare, fintech, agritech, edtech, and greentech. The fund aims to invest in 40-50 businesses, prioritizing those that adhere to ESG principles and avoid sin sectors like alcohol, gambling, and tobacco. ValuAble also prioritizes investments that align with UN Sustainability Development Goals (SDG) and help break barriers for diversity groups or those led by diversity groups. To strengthen its team, Ajay Mittal was appointed as general partner and investment manager earlier this year. Mittal, a former partner at Ascent Capital, brings nearly three decades of experience in identifying startups to back as part of ValuAble s team. The development of ValuAble s first close was first reported by online news platform DealStreetAsia. Leave Your Comments Subscribe to Newsletter
Source: vccircle.comPublished on 2024-10-01
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