May 20, 2024: Micro venture capital fund IVY Growth Associates has unveiled Arigato Capital, a SEBI-registered Category I AIF VC fund, with a total target corpus of Rs 250 crore.
The Surat-based VC fund and its network has invested in over 100 growth-stage startups, deploying Rs 20 crore from its fund. It has used more than Rs 80 crore from syndicate funds in its network.
IVY Growth’s Arigato Capital to focus on Agritech, Cleantech and Generative AI
Arigato said it will invest in startups working in emerging ventures such as agritech, cleantech, and generative AI, including fintech, consumer brands, and software-as-a-service (SaaS) companies. Arigato will commence securing fresh capital from June 2024 and anticipates to close all commitments over the next 15-18 months, aiming to garner Rs 100 crore for the first close.
The VC fund was founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah and Sharad Todi, and has IVY Growth as a limited partner. The Micro VC targets startups beyond seed or in pre-Series A stages, with an average ticket size of $500,000.
Through Arigato Capital, IVY Growth is set to build and expand a global corridor that can connect angel investors and startups. The fund will have a special focus on the Middle East, the US, and Europe.
IVY Growth further plans to host the third edition of its startup summit, 21BY72, from June 15 to June 16 in Surat. The summit will feature 20,000+ participants, including 200+ startup founders, 200+ VCs, and more than 500 investors.
IVY counts portfolio includes brands like Rupeek, BluSmart, and Zappfresh. In October 2023, IVY announced that it targets to launch IVY Growth Fund, a $30 million VC fund for revenue-based and traction-based startups, in FY25.
