Asha Ventures Secures $10 Mn For Its Maiden Fund

Mumbai-based impact investor Asha Ventures, which counts Adda 24×7, Vaastu Housing Finance, Avanti and Nepra among its portfolio companies, has secured $10 Mn (around INR 85.65 Cr) from the British International Investment for its maiden fund.

The funding brings Asha Ventures Fund-I closer to its target size of $91 Mn.

Asha Ventures’ managing partner Amit Mehta told Inc42 that the fund is aiming for its final close in September this year.

The fund aims to support high-growth and impact-focused early-to-growth stage startups in India operating across sectors such as financial services, healthcare, education, climate and agriculture, Asha Ventures said in a statement.

Asha Ventures was founded by former Morgan Stanley India head and president Vikram Gandhi and former Genpact president and chief executive Pramod Bhasin in 2015.

Asha Ventures Fund-I , backed by limited partners, including Small Industries Development Bank of India (SIDBI), Self-Reliant India (SRI) Fund and a clutch of family offices.

Back then, the investor said that it would be deploying the funds into 4-5 startups each year, with the ticket size ranging between $2 Mn and $10 Mn.

Through the fund, Asha Ventures has invested in three startups, including EV financing startup Ascend Capital, healthtech startup Truemeds and vehicle financing startup AutoMony.

The development comes at a time amid an increasing number of impact investors taking interest in early stage businesses in India that primarily focus on creating positive social impact.

C4D Partners, Bengaluru-based peer impact investor has , including Ananya Finance, Ecotasar Silk and Alpine Coffee, across two funds till date.

According to an India Impact Investors Council (IIC) report, the first two months of 2025 saw $419 Mn (INR 3,597.3 Cr) being deployed across 71 deals within the impact domain.

The post appeared first on .