Early-stage venture capital firm Capital A, which floated its second venture capital fund last month aiming to raise up to Rs 400 crore, has promoted a senior executive to the role of a partner.
The Bengaluru-based VC firm, led by Ankit Kedia, who was previously the promoter and director at plastic packaging solutions Manjushree Technopack Ltd, on Tuesday said it is promoting Aswani Chaitanya, its vice-president of investments, to partner.
Capital A had roped in Chaitanya, a former Goldman Sachs executive, in March 2023 to lead its investment vertical and help in building its portfolio management team. In his over 15-year experience, Chaitanya has worked with Wipro, Deutsche Bank and Goldman Sachs. He also started kids-focussed healthy snack brand Timios, which he eventually divested to FirstCry in 2021.
In his new role, Chaitanya will work with Kedia to develop investment strategies, lead fundraising initiatives, and enhance portfolio management, the firm said in a statement.
“My focus will be on driving value for our portfolio companies as they scale, and I look forward to collaborating with the team to advance the success of both Capital-A and the innovative start-ups we support,” said Chaitanya.
Capital A, set up in 2021, is currently raising capital for its second vehicle from Limited Partners in India and abroad. The previous vehicle, which was rolled out in 2021, had a corpus of Rs 250 crore, with no external LPs.
“With Fund II deploying capital, Aswani’s promotion strengthens Capital-A’s strategic growth. His expertise aligns with our focus on high-impact sectors, ensuring financial success while driving transformative change and creating lasting value for society and the environment,” said Kedia.
The company filed its papers with Securities and Exchange Board of India (SEBI) for a category II investment vehicle for the second fund in September. The latest fund will focus on four themes--manufacturing, climate-tech, deeptech and fintech.
From the first fund, Capital A invested in 20 startups, including Chargeup, Oorja Energy, Cell Propulsion, Entuple, Jiraaf, Credit Fair, LeRemitt, Bharatsure, Bambrew Infinity Box, Matchlog, and Tan90.
