Blue Ashva Capital announces initial close of SME focused India Fund

Blue Ashva Capital announces the initial close of its maiden SME and Startup focused fund in India with commitments of INR 454 crores (~USD 60 million). The investors include family offices and high net worth individuals.

The fund proposes to raise a sum of INR 400 crores with a greenshoe option of INR 200 crores. It has exercised a part of the greenshoe option at the initial close.

The fund ("Blue Ashva Sampada 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 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. Our Fund is committed to nurturing profitable and sustainable SMEs and Startups for a better India." says Satya Bansal, Founder, Blue Ashva Capital.

Source : Equity Bulls

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