Blue Ashva Capital has closed its maiden SME and startup-focused fund in India with commitments of $60 million ( around Rs 454 crore). The investors include family offices and high net-worth individuals.
Blue Ashva Sampada 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.
Blue Ashva Capital is founded by Satya Bansal, who was the Chief Executive of Barclays Private Bank in India for more than a decade. He is a founding member of the ICICI Direct team.