Micro venture capital firm IVY Growth Associates has unveiled Arigato Capital, a SEBI-registered Category I Alternative Investment Fund (AIF) Venture Capital (VC) fund, aiming for a corpus of Rs 250 crore. This ambitious fund is designed to foster innovation across various sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies.
Arigato Capital is slated to commence capital-raising efforts in June 2024 to finalize all commitments within the next 15 to 18 months. The fund seeks a first close at Rs 100 crore and will concentrate on startups beyond the seed stage or in the pre-series A stages, providing an average investment size of $500,000.
IVY Growth Associates, founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, has already established a significant footprint in the startup ecosystem. The firm has invested in over 100 growth-stage startups, deploying Rs 20 crore from its fund and leveraging more than Rs 80 crore from syndicate funds within its network. IVY’s impressive portfolio features well-known brands such as Rupeek, BluSmart, and Zappfresh.
In tandem with the launch of Arigato Capital, IVY Growth Associates will also be hosting the third edition of its flagship startup summit, 21 BY 72, from June 15 to June 16 in Surat. This event is anticipated to draw over 20,000 participants, including over 200 startup founders, 200 venture capitalists, and over 500 investors, underscoring IVY’s pivotal role in the entrepreneurial ecosystem.
