Raghav Bahl, former head of investments at Alibaba Group’s India business, and Soham Avlani, ex-partner at 9Unicorns, have officially launched PROMAFT Partners, a new ₹1,000 crore venture capital fund.
Before leading investments for Alibaba, Bahl held the position of vice president at Bessemer Venture Partners, a renowned global fund with a presence in the US, Israel, and India. Avlani, on the other hand, has a background as a public market investor.
PROMAFT Partners aims to be a sector-agnostic fund, focusing on investments in companies that have demonstrated a strong ‘product-market fit’. The fund plans to make 10-12 strategic investments, with 2-3 investments expected each year.
Backing for PROMAFT Partners comes from prominent Indian family offices and market leaders, including Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse. These partners will also serve as mentors to the fund’s portfolio companies.
The general partners intend to leverage their extensive global investing experience across China, Southeast Asia, and Europe to assist startups in developing go-to-market strategies, business plans, and financing options.
