Ivy Growth, a supporter of BluSmart, intends to raise $30 million in venture capital

 Ivy Growth, a supporter of BluSmart, intends to raise $30 million in venture capital

Ivy Growth Associates Pvt Ltd, a startup accelerator and micro venture investment business located in Surat, said on Thursday that it would establish the $30 million Ivy Growth Fund before the end of the next fiscal year.

According to the business, Mehul Shah, adviser to the investment firm, as well as cofounders of Ivy Growth, Rachit Poddar, Prateek Toshniwal, as well as Sharad Todi, will oversee the fund.

The fund managers will make individual investments in the fund. Global investors, family offices, and very wealthy people will be among its additional investors.

The cash will be deployed in three to five years, according to Ivy Growth. It will make investments in businesses throughout the pre-series A and later fundraising phases. Its primary focus areas will be deeptech, agritech, sustainability, Web 3.0, healthcare, as well as artificial intelligence.

"Through the $30 million fund as well as our global fund setups as well as collaborations, we will provide funding to pre-series A and higher level startups in jurisdictions all across the world, focusing on locations like Asia and the Middle East which have the growth potential for becoming successful in their respective sectors," Toshniwal stated. In addition, Ivy Growth Fund will collaborate with funds situated in the US, Singapore, Japan, the UK, and the Middle East.

Including Zypp Electric, Airmeet, BluSmart, Emotorad, Bebeburp, Bummer, Regrip, GrowIt, Evify Logistics, among Navitas Alpha, Ivy Growth has invested in over 70 firms to date. The company also intends to expand internationally by launching a $30 million global fund at the Dubai International Financial Center by 2026.

Numerous angel networks and micro-investment businesses have started venture capital funds in the last few years. Avinya Ventures was floated by angel investing site We Founder Circle earlier this year, while Physis Capital, a $50 million venture capital fund, was introduced by Inflection Point Ventures the previous year.