Mumbai VC Firm Prath Ventures Secures Rs 120 Crore in Second Fund Close

Parth Ventures Secure Funding
Preeti Bali / 9:25 am / March 14, 2024

Prath Ventures, a Mumbai-based venture capital (VC) firm, has reached a significant milestone by securing Rs 120 crore in the second close of its debut fund. This funding round paves the way for continued investment in promising consumer-centric businesses.

Strategic Investors Join the Round

The details of the second close reveal participation from prominent players in the investment landscape. SIDBI Funds of Funds, a key facilitator of venture capital in India, joined the round alongside a select group of undisclosed startup founders and family offices.

Prath Ventures is actively working towards achieving its final close for the fund in the coming months. The secured capital will be strategically deployed within the next 18-24 months to fuel the growth of innovative consumer brands.

Experience Drives Investment Strategy

Co-founded by Piyush Goenka and Harmanpreet Singh, Prath Ventures leverages their extensive experience in the investment sector. The firm focuses on seed and Series A funding rounds, prioritizing ventures with high potential in the dynamic Indian consumer market. Investments have already begun, with Jimmy’s Cocktails and Aukera Jewellery joining the growing portfolio.

Delivering Value for Investors

“Our core mission is to identify and invest in the most promising consumer-centric opportunities in India,” stated Harmanpreet Singh, Co-founder of Prath Ventures. “We are committed to delivering exceptional returns to our Limited Partners (LPs) while upholding the highest standards of institutional fund management.”

Founders with a Proven Track Record

Prior to establishing Prath Ventures, both Goenka and Singh honed their investment expertise at leading private equity firms. Their combined experience translates to a proven track record of successful investments exceeding Rs 1,700 crore in established consumer brands like Safari Industries, PVR Cinemas, The Good Glamm Group, and Vastu Housing Finance.

Beyond Capital: Strategic Guidance and Growth Support

“We recognize that early-stage companies require more than just financial resources,” explained Piyush Goenka, Co-founder of Prath Ventures. “By offering strategic guidance and operational support alongside vital capital, we aim to serve as a catalyst for their growth and empower them to achieve their full potential.”

Experience in Angel Investing Further Strengthens Approach

Both Goenka and Singh bring a wealth of experience as angel investors to the table. Prior to founding Prath Ventures, they actively backed over 20 promising startups across diverse sectors, including Believe Pte, Style Bazaar, Mosaic Wellness, GoKwik, Falcon, Lysto, Bridgeup, and others. This experience grants them a unique perspective on the challenges and opportunities faced by early-stage ventures.

Prath Ventures’ successful second close and focus on strategic support position the firm to make a significant impact on the Indian consumer brand landscape.

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