Arkam Ventures, an early-stage venture capital fund, completed the final settlement of the first fund for $106 Mn. The fund was oversubscribed at INR 790 Cr against the original target of INR 650 Cr.
The fund was supported by institutional investors such as British International Investment, Nippon India Digital Innovation, Evolvence Group, Capria, and SIDBI. Other Global Funds of Funds, HNIs, and Indian Family Offices have also joined hands.
Private and individual investors such as Sanjeev Bikhchandani of InfoEdge, Binny Bansal of Flipkart, Vijay Shekhar of Paytm, and Rajesh Mago also supported the fund. The fund will invest in Pre-Series A to Series B deals with an individual cheque size between INR 10 – INR 20 Cr. It is reported that the fund has backed 12 companies to date.
Founded by Rahul Chandra and Bala Srinivasa, Arkam Ventures focuses primarily on industries such as financial services, healthcare, food and agriculture, education, logistics, and SaaS. The startup portfolio includes Small Case, Krazybee, Jar, Smart Staff, Jai Kisan, Signzy, SpotDraft, Wint Wealth, Invact, Mudrex, BestDoc, and Jumbotail.
Chandra previously co-founded Helion Ventures and invested in startups such as Equitas, Spandana, SMS Gupshup, Shubham Housing, MoEngage, UnitedLex, LetsBuy, and Toppr.
Srinivasa formerly worked for Kalaari Capital to support startups such as Upstox, Jumbotail, Credit Vidya, and Mettl. He was previously the Managing Director of Amba Research.
Arkam Ventures recently invested in a $ 5 million seed round for edtech startup Invact Metaveristy. Other investors such as Antler India, Picus Capital, M Venture Partners, BECO Capital, and 2 am VC also participated in the funding round.
In February 2022, Arkam Ventures invested $ 6.5 million in PreSeries A funding on the crypto investment platform Mudrex. Other investors, including Tribe Capital and Boltby QED Investors, also participated in this round.
Arkam also participated in the $ 32 million Series A round of investment startup Jar in February this year. Participants in the round were Tiger Global and Rocketship.VC, Third Prime, Stones, Force Ventures and WEH.
In October 2021, workforce management startup Smart Staff (formerly Qikworks) raised $ 4.3 million in a seed funding round from Blume Ventures, Nexus Venture Partners, Arkam Ventures, and Gemba Capital.