Venture capital firm Dharana Capital has raised $250 million for its second India-focused growth fund. This fund will support fast-growing technology and consumer startups across the country.
With the closing of Fund II, Dharana Capital’s total assets under management have now reached $450 million. The firm shared this update on January 12, highlighting its growing commitment to the Indian startup ecosystem.
The new fund will invest in high-potential and category-leading startups, especially in technology and consumer sectors. Dharana aims to back companies that are ready to scale up and prepare for future public listings (IPOs) as India’s startup ecosystem continues to mature.
The fund has attracted investments from global limited partners, including top US university endowments, health systems, and other non-profit institutions, the firm said.
Dharana Capital founder and managing partner Vamsi Duvvuri said the firm plans to work closely with a select group of founders to help build large, lasting businesses.
“At Dharana, our vision is to back missionary founders building large, standalone, durable listed businesses. We believe India’s listed tech market cap will grow multi-fold over the next decade as more new-age enterprises go public. Our goal is to partner with a select few and play a meaningful role in this value creation,” he said.
Dharana Capital positions itself as a long-term partner for its portfolio companies. It works closely with founders and management teams to build strong business foundations and help companies prepare for a smooth entry into public markets when they are ready.
Dharana Capital has invested in several well-known companies such as Urban Company (consumer services), Petpooja (restaurant management software), Vyapar (accounting software for small businesses), and Itilite (travel and expense management).
Its portfolio also includes LAT Aerospace (aerospace), Botlab/Vayudh (defense and robotics), and Beyond Appliances (home appliances), showing the firm’s focus on future-ready and innovative industries.
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