Dharana Capital Raises USD 250 Mn for Second India Growth Fund The fund will invest in next-generation tech and consumer businesses in India.
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Dharana Capital has raised USD 250 million for its second India-focused growth fund, taking its total assets under management to USD 450 million, the firm said on Monday.
The new fund will invest in next-generation technology and consumer businesses across India, with a focus on companies that can build scalable, profitable models and eventually access public markets.
Founded around 2022, Dharana Capital is an India-focused venture growth investment firm operating from Bengaluru and Dubai. Its investor base includes US university endowments, health systems and other non-profit institutions.
Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, said: "At Dharana, our vision is to back missionary founders building large, standalone, durable listed businesses."
The firm follows a long-term partnership approach, working closely with founders and management teams to strengthen governance, improve unit economics and prepare companies for public listings.
Dharana's current portfolio includes Urban Company, Petpooja, Vyapar, LAT Aerospace, Itilite, Botlab/Vayudh and Beyond Appliances.
The fund is expected to back a small number of category-defining businesses in technology and consumer segments as India's new-age companies continue to scale and seek long-term capital support in domestic markets. Investments will target growth-stage companies with clear profitability paths.
