Artha Select Fund (ASF) is a growth-stage investment vehicle operated by Artha India Ventures, a Mumbai-based venture capital firm. Launched in 2025, ASF was designed as a continuation fund to double down on the most successful startups within Artha’s existing portfolio. The fund builds on Artha’s broader track record of backing over 135 companies and managing more than $137 million in assets across various early-stage vehicles.
ASF focuses exclusively on the top 15% of performers from Artha’s existing portfolio, which includes companies backed by Artha Venture Fund I, Artha Continuum Fund, and the upcoming Artha Venture Fund II.
Its capital is directed toward Indian startups at the Series B and Series C stages, aiming to bridge the common funding gap that occurs as companies transition from early product-market fit into scaling mode.
In August 2025, Artha India Ventures announced the final close of the Artha Select Fund at $49.36 million, exceeding its original target of $37.7 million. With this close, Artha’s total assets under management now surpass $137.16 million.
The fund is backed by a diverse group of LPs. About 80% of the capital was anchored by Indian family offices and ultra-high-net-worth individuals, including the family offices of Atul Kirloskar and DSP, as well as Shahi Exports, HIRA Group, and Anikarth Ventures. The remaining 20% came from global LPs across Singapore, the UAE, Mauritius, Hong Kong, Africa, and the United States.
ASF is structured to deploy checks of approximately $2.29 million each across 12 to 14 high-performing companies over the next four years.
Leadership
ASF is led by Anirudh A. Damani, Managing Partner of both Artha Venture Fund and Artha Select Fund. Damani has played a key role in shaping Artha’s thesis around continued support for startups through multiple stages, leveraging deep operational involvement and long-term relationships with founders.
Investment Strategy
ASF’s strategy is to selectively reinvest in companies that Artha has already backed and deeply understands.
Rather than sourcing new deals, ASF doubles down on proven winners who are entering critical inflection points in their growth journey. The fund seeks to solve India’s mid-stage funding gap while minimizing dilution for founders and maintaining alignment between investor and operator.
This model offers high conviction follow-on capital to startups that have already validated their business models and execution capabilities.
Notable Investments
Artha, across its family of funds, has backed prominent startups including:
Under ASF, the first publicly announced investment has been in spacetech startup Agnikul Cosmos.
Notable Exits
Artha has completed 33 exits to date, spanning multiple sectors and stages. No exits have been publicly reported yet under the new ASF vehicle.
