Blue Ashva Capital raises Rs 450 cr for SME-focused PE fund

Blue Ashva, a SEBI registered Category II Alternative Investment Fund had planned to raise Rs 400 crore with a green shoe option of another Rs 200 crore.

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The fund will invest in businesses across sectors including financial services, technology, healthcare, consumer, manufacturing etc.
MUMBAI: Blue Ashva Capital, set up by former Barclays India CEO Satya Bansal has raised Rs 450 crore to make the first close of its maiden SME and Startup focused private equity fund, the company said on Monday.

The capital was raised from investors including family offices and high net worth individuals, the company said in a statement.

Blue Ashva, a SEBI registered Category II Alternative Investment Fund had planned to raise Rs 400 crore with a green shoe option of another Rs 200 crore.


The fund will invest in businesses across sectors including financial services, technology, healthcare, consumer, manufacturing etc. through equity, debt or any combination thereof. The fund will also back professional-turn-entrepreneurs and partner with global companies to invest in India, it said.

“SMEs and Startups play a key role in fostering entrepreneurship and generating large scale livelihood opportunities. However, with so much gloom and doom around, most such businesses are currently going through challenging times,” said Satya Bansal, Founder, Blue Ashva Capital.

Prior to setting up Blue Ashva Capital, Bansal was the chief executive of Barclays Private Bank in India for more than a decade.
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India-focused private equity and venture capital funds raised a record $11.7 billion in 2019, an increase of around 45 per cent compared to the previous year, according to EY.
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