Airavat Capital opens new $40-m tech fund

Airavat Capital, a public equities investment firm focused on technology-enabled businesses, has launched a USD40 million fund tech fund.

This fund seeks to raise money from HNIs and institutional investors which will be deployed to leverage the technology ecosystem. Also, the fund will be based out of Gift City, the company said claiming this to the first global technology fund to be based out of the IFSC.

The fund has got initial interest from a range of investors including existing Airavat stakeholders, VC investors, technology founders/CTOs, and family offices..

Airavat also recently redomiciled a foreign portfolio investment vehicle in Gift City, becoming amongst the first fund managers to migrate under the recent regulatory framework for off-market transfer of securities.

Airavat has managed and advised India-focused funds for the past six years, managing partners Rohit Bhat and Suraj Subramaniam said.