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 reportedly secured $10 Mn (around INR 85.65 Cr) from the British International Investment for its maiden fund.

Asha Ventures’ debut fund, Asha Ventures Fund-I, , is now looking for its final close by September this year, an ET report said.

“These are large institutions. The documentation and diligence process takes time, and sometimes these processes are beyond the control of all parties, so we have to appreciate that. As far as fundraising is concerned, we are on track and will be announcing the final close in a couple of months,” managing partner Amit Mehta told ET.

Inc42 has reached out to Mehta for comments on the development. The story will be updated based on his response.

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.

(The story will be updated soon)

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