Latest News | Blue Ashva Capital Closes Rs 454-cr SME-focused Fund
Get latest articles and stories on Latest News at LatestLY. Blue Ashva Capital, an investment fund launched by former chief executive of Barclays Private Bank India Satya Bansal, has closed its maiden SME and startups-focused fund, netting investor commitments for Rs 454 crore.
Mumbai, Jul 6 (PTI) Blue Ashva Capital, an investment fund launched by former chief executive of Barclays Private Bank India Satya Bansal, has closed its maiden SME and startups-focused fund, netting investor commitments for Rs 454 crore.
Investors who are on board include family offices and high networth individuals, Blue Ashva Capital, which has offices in Singapore and Mumbai, said in a statement on Monday.
The fund backs sustainable and profitable businesses across agriculture, decarbonization, circular economy and SMEs and has built a partner ecosystem in Singapore, the US and Israel to bring innovations useful for the country.
The investments will be carried out through the Blue Ashva Sampada Fund, managed by Blue Ashva Capital Trust, which is a Sebi-registered category II alternative investment fund.
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The money raised will be invested in businesses across financial services, technology, healthcare, consumer, manufacturing etc through equity, debt or any combination of all.
The fund will also back professional-turn-entrepreneurs apart from partnering with global companies to invest, the statement said.
SMEs and startups play a key role in fostering entrepreneurship, and generating livelihood opportunities for millions. But they face problems in fund raising.
This fund is committed to nurturing profitable and sustainable SMEs and startups for a better tomorrow, Bansal said.
Bansal has spent over three decades in the banking and financial services sector.
Prior to founding Blue Ashva in 2019, he was the chief executive of Barclays Private Bank India for more than a decade and played a key role in setting up the British lender's private banking business in the country. He was also a key founding member of the ICICI Direct team.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)