Fund News
HDFC AMC invests in Athera's Rs.900-Cr fourth fund
Bengaluru-based early stage investor Athera Venture Partners has secured commitment from HDFC AMC’s Select AIF Fund-of-Funds I Scheme for its fourth fund with a target corpus of INR 900 crore (USD 120 million). The fund, expected to close next year, has also onboarded SIDBI Fund-of-Funds as a Limited Partner (LP), will now have more than 60% of the capital for its Fund-IV coming from domestic investors.Founded in 2006 as Inventus Capital Partners, Athera is a cross-border firm investing in early stage and tech-first startups from US and India. The fund has so far invested in more than 60 companies, 13 out of its third fund.Through its fourth fund, Athera has already funded PlayShifu, maker of augmented reality-driven toys and games, logistics SaaS startup ClickPost, robotics startup CynLr, Koo’s founder Mayank Bidawatka’s consumer Internet startup Billion Hearts, autonomous robotics company Ati Motors and Hyperbots, a finance automation startup.The fund will focus on seed and Series A deals, looking to write cheques ranging from INR 5 - 25 crore for 16-18 companies.
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