Artha Group raises ₹330 crore for investment fund

Agnikul's owner, Artha Group, has raised ₹330 crore to support successful companies in its portfolio. This new fund, called the Artha Select Fund (ASF), aims to reach a final total of ₹350-375 crore. It includes a green shoe option that could add up to ₹120 crore. Artha Group has invested in various businesses, including OYO and Agnikul, a space startup. New investors in this round include several prominent individuals such as Ashok Bharadia, Harshal Morde, and David Wilson, though they have not yet commented. The fund has already made its first investment in Agnikul. Artha Group, led by Ashok and Anirudh Damani, started ASF in 2022 and also has a venture capital arm, the Artha Venture Fund. Previously, the Artha Venture Fund closed at over ₹225 crore, surpassing its original goal. Artha Group has invested in more than 100 startups in countries like India, the US, and the UK. The ASF aims to invest ₹20 crore each in 12-14 startups at later funding rounds, according to the company. This fundraising comes as Indian investment activity picks up, with several firms also obtaining new funds after a dry spell. Existing investors, including family offices and institutional investors, have also contributed to the ASF.