Dharana Capital Secures $250M to Boost Next-Gen Tech in India

Venture firm Dharana Capital has raised $250 million for its second India fund, focusing on technology and consumer businesses. This boosts their total AUM to $450 million. The capital was sourced primarily from US-based institutions. Dharana aims to back key founders in India’s promising tech market.

In a significant move showcasing investor confidence, Dharana Capital announced on Monday the successful raising of $250 million for its second India fund. Targeting next-generation technology and consumer-oriented businesses, this fund aims to shape the tech landscape over the upcoming three years.

This fundraising endeavor, marking three years post their inaugural fund, brings the company's total Assets Under Management (AUM) to an impressive $450 million. The capital influx was predominantly sourced from prestigious US-based university endowments, healthcare systems, and various non-profit organizations.

According to Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, the firm is committed to supporting founders focused on building enduring, public tech enterprises in India. With its first fund primarily invested, Dharana is keen to further bolster its portfolio, which includes influential companies like Urban Company and LAT Aerospace.

(With inputs from agencies.)