Alphatron Capital has closed its first fund at $30 million (about Rs 249 crore) for investments in India, the venture capital firm said on Thursday.
The fund claims to have achieved an oversubscription of 20%, closing at $30 million, as against an initial target of $25 million.
"Alphatron Capital (formerly SMK Ventures), a US-based venture capital firm, is delighted to announce the successful closing of its first fund. The fund has achieved an oversubscription of 20%, closing at $30 million, as against an initial target of $25 million,' the VC firm said in a statement.
The fund aims to provide access to a diversified pool of India's technology and tech-leveraged companies across enterprise SaaS, fintech, healthtech, AI/ML, digital content, and Direct-to-consumer (D2C) sectors while minimising entry barriers for US investors, the statement said.
"The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors. We are excited to serve as a gateway for U.S.-based investors to participate in India's future over the next few decades," Alphatron Capital Founding Partner and Chairman Suresh Vaswani said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
