Business

Blue Ashva Fund raises ₹454 crore to fund SMEs, start-ups

Blue Ashva Capital has announced the initial close of its maiden SME and Startup focused fund in India with commitments of ₹454 crore ($60 million). The investors include family offices and high net worth individuals.

The propose of the fund is to raise ₹400 crore with a greenshoe option of ₹200 crore. It has exercised a part of the greenshoe option at the initial close.

Called Blue Ashva Sampada Fund, the fund is a scheme of Blue Ashva Capital Trust, a SEBI registered Category II Alternative Investment Fund.

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

“There is a need now, more than ever, to support passionate founders with optimistic capital that is willing to bet on the long term. Our Fund is committed to nurturing profitable and sustainable SMEs and Start-ups for a better India,” said Satya Bansal, Founder, Blue Ashva Capital in a statement.

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Printable version | Aug 12, 2020 7:33:16 PM | https://www.thehindu.com/business/blue-ashva-fund-raises-454-crore-to-fund-smes-start-ups/article32001585.ece

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