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Surat-based IVY Growth launches Rs 250 Cr VC fund, Arigato Capital

Arigato Capital will typically target startups beyond seed or in pre-Series A stages, with an average ticket size of $500,000

Surat-based IVY Growth launches Rs 250 Cr VC fund, Arigato Capital

Monday May 20, 2024 , 2 min Read

Micro venture capital fund IVY Growth Associates has launched Arigato Capital, a SEBI-registered Category I AIF VC fund, with a total target corpus of Rs 250 crore.

Arigato will be a sector-agnostic fund, and will invest in startups working in emerging sectors like agritech, cleantech, and generative AI, as well as fintech, consumer brands, and software-as-a-service (SaaS) companies.

Arigato will start raising capital from June 2024 and expects close all commitments over the next 15-18 months, targetting Rs 100 crore for the first close. It will target startups beyond seed or in pre-Series A stages, with an average ticket size of $500,000

The VC fund was founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah and Sharad Todi, and has IVY Growth as a limited partner.

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Through Arigato Capital, IVY Growth plans to build and expand a global corridor that can connect angel investors and startups. The fund will have a special focus on the Middle East, the US, and Europe.

IVY Growth also plans to host the third edition of its startup summit, 21BY72, from June 15 to June 16 in Surat. The summit will feature 20,000+ participants, including 200+ startup founders, 200+ VCs, and more than 500 investors.

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The Surat-based VC fund and its network has invested in over 100 growth-stage startups, deploying Rs 20 crore from its fund. It has used more than Rs 80 crore from syndicate funds in its network. IVY counts brands like Rupeek, BluSmart, and Zappfresh in its portfolio.

In October 2023, IVY also announced that it plans to launch IVY Growth Fund, a $30 million VC fund for revenue-based and traction-based startups, in FY25.

(The copy was updated with a new image.)


Edited by Kanishk Singh