HDFC AMC's Select AIF Fund Backs Athera Venture Partners' INR 900 Cr Fund IV Athera, formerly Inventus India, will use this fund to invest in tech-focused startups in the consumer internet, enterprise software, AI, and other emerging technologies.
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Athera Venture Partners, previously known as Inventus India, has secured investment from HDFC AMC's Select AIF FoF I Scheme for its INR 900 crore Fund IV.
This partnership marks HDFC Fund of Funds as a dominant limited partner (LP) in the venture capital firm's latest fund, focused on fueling India's rapidly evolving tech startup ecosystem.
The fund is set to close in 2025 and targets high-growth startups in sectors such as consumer internet, enterprise software, artificial intelligence, and other emerging technologies.
With six promising investments already under its belt, Athera has committed 30% of the Fund IV portfolio. These include startups like Ati Motors (autonomous robotics), Terra (3D immersive online gaming), ClickPost (logistics management software), CynLr (computer vision for robotics), Hyperbots (AI automation), and Billion Hearts (global digital consumer products). Impressively, the fund is already in positive IRR territory, reflecting strong early returns. Over the next 18-24 months, Athera plans to invest in a dozen more innovative startups.
"We are delighted that HDFC AMC's Fund of Fund scheme chose to believe in our investment philosophy and invest in us! With this fund, we remain committed to supporting the Indian startup ecosystem and are looking forward to backing many exciting and innovative founders that are set to transform the world with their solutions," said Rutvik Doshi, General Partner and Managing Director, Athera Venture Partners.
Since 2008, Athera has established itself as a key player in India's early-stage venture capital space, investing in over 40 companies that include category-defining startups like redBus, PolicyBazaar, HealthifyMe, Pixxel, and Euler Motors.
With a track record spanning 16 years, the firm claims to have delivered impressive exits through mergers, acquisitions, and IPOs, providing handsome returns for its investors.
Athera's investment strategy emphasises tech-first business models across consumer tech, enterprise SaaS, and deep tech sectors. The firm's expertise is rooted in its team's 60+ years of collective experience and a founders-first ethos, making it a trusted partner for mission-driven entrepreneurs.
With Fund IV, Athera is poised to further its legacy of identifying and supporting transformative startups, solidifying its position as one of India's most successful homegrown venture capital funds.
