HDFC AMC’s Select AIF FoF I Scheme has become a dominant Limited Partner (LP) in Athera’s ₹900 crore Fund IV, which also includes investment from prominent Indian family offices and international foundations.
Athera, previously known as Inventus India, will utilize this fund to invest in tech-driven startups across sectors such as Consumer Internet, Enterprise Software, AI, and other emerging technologies.
Mumbai, December 18th, 2024 – Tech-focused venture capital firm Athera Venture Partners, formerly known as Inventus India, has secured investment from HDFC AMC’s Select AIF FoF I Scheme for its upcoming Fund IV, which is set to close in 2025. HDFC’s Fund of Funds will become a prominent Limited Partner (LP) in Athera’s ₹900 crore fund, which will focus on investing in high-growth tech startups across sectors like Consumer Internet, Enterprise Software, AI, and other emerging technologies.
Athera has already made notable investments in promising startups, including Ati Motors, an autonomous robotics company; Terra, a 3D immersive online gaming platform; ClickPost, a logistics management software for brands; Cyn:Lr, specializing in computer vision for robotics; Hyperbots, an AI automation firm; and Billion Hearts, a creator of simple digital consumer products aimed at a global audience. With these six investments, Athera’s portfolio is already 30% constructed, and the fund is performing positively in terms of internal rate of return (IRR). In the next 18-24 months, Athera plans to invest in a dozen more high-potential startups as part of Fund IV.
“We are thrilled that HDFC AMC’s Fund of Funds has chosen to back our investment philosophy,” said Rutvik Doshi, General Partner & Managing Director of Athera. “With this fund, we reaffirm our commitment to supporting the Indian startup ecosystem and look forward to backing many more innovative founders who are poised to change the world with their solutions.”
Since its inception in 2008, Athera Venture Partners has been a champion of mission-driven entrepreneurs leading tech-first startups. The firm primarily partners with early-stage companies, investing in Series A and Seed rounds. Athera has invested in over 40 companies, including category-defining ventures like redBus, PolicyBazaar, Pixxel, MoveinSync, Sokrati, FundsIndia, Euler Motors, BluArmor, Vunet, HealthifyMe, Playshifu, and Unbxd. Over the past 16 years, Athera has built a strong track record, with several successful exits, including M&As and IPOs, providing significant returns for its investors.
