At an early stage, VC firm A99 (formerly Artha 99) is ready to raise its third fund with a target of 100 million (about Rs. 70 crore) with a target of 100 million.
With this fund, the firm plans to back 12-15 startups working in the manufacturing and infrastructure sectors, which has a check size at a range of $ 5 million to $ 10 million.
According to A99, it will focus on startups during the pre -series A to series B. It has also received 30 ML's soft promises from existing and new investors. The VC firm wants to announce the first closure of the fund by April 2026, with no green shoe option.
Launched by Vingish Shankar in 2021, a Chennai -based firm launched Fund II in 2022, with the initial target of Rs 50 crore. Later he used a granuous option, which increased the total corpus to Rs 105 crore.
With its Fund II, the VC firm has invested in Aditya Avatarton, Enttals, Innovals, Ezraks, Laser A, and Rijat, so that some of them can be named. From Fund I, A99 invested in Wajro, Moby and Sarova intended.
A99 has withdrawn from one of his funds I Portfolio-Helinsky-based application development software provider, Photovice UK, a subsidiary of Photoshis Finland. The firm received shares of A99, which saw a VC firm cash in 7x returns.
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