Alphatron Capital raises first fund of Rs 249 cr for investments in India

New Delhi, Mar 21 (PTI) Alphatron Capital has closed its first fund at USD 30 million (about Rs 249 crore) for investments in India, the venture capital firm said on Thursday.

The fund claims to have achieved an oversubscription of 20 per cent, closing at USD 30 million, as against an initial target of USD 25 million.

“Alphatron Capital (formerly SMK Ventures), a US-based venture capital firm, is delighted to announce the successful closing of its first fund. The fund has achieved an oversubscription of 20 per cent, closing at USD 30 million, as against an initial target of USD 25 million,” the VC firm said in a statement.

The fund aims to provide access to a diversified pool of India’s technology and tech-leveraged companies across enterprise SaaS, fintech, healthtech, AI/ML, digital content, and Direct-to-consumer (D2C) sectors while minimising entry barriers for US investors, the statement said.

“The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors. We are excited to serve as a gateway for US-based investors to participate in India’s future over the next few decades,” Alphatron Capital Founding Partner and Chairman Suresh Vaswani said.