Dharana Capital, an offshoot of global funding company Vy Capital, has raised $250 million (about Rs 2,254 crore ) for its 2d India-focussed automobile, taking its total resources below administration to about $450 million, per an announcement.
The fresh fund will make investments in development-stage expertise and person firms, as India-centered mission capital firms return to fundraising after a prolonged slowdown in funding flows.
The fund talked about its puny accomplice (LP) sinister involves healthcare firms, US college endowments and other non-earnings.
Founded by Vamsi Duvvuri, Dharana Capital follows a mission development procedure, backing firms that are previous early-stage possibility and nearer to scale and profitability.
The company invests with a look against public market listings moderately than approach-term exits thru secondary sales.
Dharana Capital’s portfolio involves listed on-put a question to home services and products market City Firm, restaurant blueprint platform Petpooja, LAT Aerospace and Past Home equipment, a kitchen home equipment producer.
These investments were share of its first fund, which changed into launched with a target corpus of $160 million in 2022.
Dharana Capital has additionally raised extra capital from its puny partners for co-investments.
“We accept as true with India’s listed tech market cap will grow manifold over the following decade as more fresh-age enterprises stride public. Our aim is to accomplice with a make a selection few and play a meaningful role on this stamp creation,” talked about Duvvuri, who’s additionally the managing accomplice of Dharana Capital.
Before founding Dharana Capital, Duvvuri changed into main Vy Capital’s emerging markets investments and had invested in food shipping company Zomato thru Vy Capital.
As reported by ET on January 7, puny partners are returning to India-focussed mission capital funds and they’re making spend of sharper filters, prioritising team steadiness, efficiency across market cycles, and realised exits over sheer fund measurement or aggressive development narratives.
Dharana Capital talked about that it takes a prolonged-term partnership diagram with portfolio firms, working closely with founders to crimson meat up governance, crimson meat up working metrics, and put collectively companies for public market scrutiny.
Several tidy mission funds closed capital raises in 2025, in conjunction with Nexus Endeavor Companions’ $700 million fund, Accel India’s $650 million fund, Bessemer Endeavor Companions’ $350 million fund, and Hearth Ventures’ $253 million fund. Firms corresponding to Peak XV Companions and Z47, previously Matrix Companions India, are additionally in the market to rob fresh funds.
In response to Endeavor Intelligence knowledge analysed by ET, India-focussed VC funds raised bigger than $3.3 billion in 2025, virtually five times the quantity raised a year earlier.
