SME-focused investor Blue Ashva Capital raises $60 mn for maiden fund | Mint
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Business News/ Companies / News/  SME-focused investor Blue Ashva Capital raises $60 mn for maiden fund
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SME-focused investor Blue Ashva Capital raises $60 mn for maiden fund

The fund will invest in businesses across sectors including financial services, technology, healthcare, consumer, manufacturing etc. through equity, debt or any combination thereof
  • The fund will also back professional-turn-entrepreneurs and partner with global companies to invest in India.
  • The capital was raised from family offices and high net worth individualsPremium
    The capital was raised from family offices and high net worth individuals

    MUMBAI: Blue Ashva Capital, an investment firm focused on SMEs and startups, on Monday said it has raised 454 crore (approximately $60 million) for the initial close of its maiden fund.

    The capital was raised from family offices and high net worth individuals, the firm said in a statement.

    “The fund proposes to raise a sum of 400 crore with a greenshoe option of 200 crore. It has exercised a part of the greenshoe option at the initial close," the statement said.

    The fund will invest in businesses across sectors including financial services, technology, healthcare, consumer, manufacturing etc. through equity, debt or any combination thereof. The fund will also back professional-turn-entrepreneurs and partner with global companies to invest in India.

    “SMEs and startups play a key role in fostering entrepreneurship and generating large scale livelihood opportunities. However, with so much gloom and doom around, most such businesses are currently going through challenging times. There is a need now, more than ever, to support passionate founders with optimistic capital that is willing to bet on the long term," said Satya Bansal, founder, Blue Ashva Capital.

    Prior to founding Blue Ashva Capital, Bansal was the chief executive of Barclays Private Bank in India for more than a decade.

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    Swaraj Singh Dhanjal
    " Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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    Published: 06 Jul 2020, 02:02 PM IST
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