India Accelerator, which runs a seed stage accelerator programme, has collaborated with early-stage micro venture capital firm Artha Venture Fund (AVF) for its Summer 2021 batch.
As part of the collaboration, Artha Venture Fund will offer funding to startups selected in the accelerator programme to help them build their businesses for 36-42 months, according to a statement. It did not disclose details of its potential investment value.
The firms have signed a memorandum of understanding (MoU) to offer funding and mentorship to startups, along with go-to-market support, business growth opportunities, financial management, strategic planning support, and co-working space.
“Our partnership with Artha Venture Fund syncs with the ecosystem’s present need to provide comprehensive support to the startups. We believe this collaboration is definitely going to provide scalability and success to ambitious founders and make an impact in the society” Mona Singh, co-founder of India Accelerator, said.
The initiative also aims to help startups to scale faster, extend their runway, recruit a core team and get better terms and valuation from follow-on investors, the statement added.
“We are glad to partner with India Accelerator and with this collaboration, we look forward to helping the early-stage startups with strategic guidance, business development and fundraising opportunities. With AVF’s extensive worldwide network, we look forward to the founders achieving great heights and establishing industry leadership in the times to come,” Anirudh A Damani, Managing Partner, Artha Venture Fund (AVF) said.
Gurugram-based India Accelerator provides mentorship, networking opportunities and access to technology. The accelerator also provides peripheral services such as legal aid and financial services. It has a portfolio of about 70 startups including Lawyered, Insurance Samadhaan, Galaxy Card, Prithvi, Ingenium, and Playtoome.
Artha Venture Fund is backed by Singularity Holdings and the family office of former BSE director Ashok Kumar Damani. Its portfolio includes Agnikul, HobSpace, PiggyRide, Daalchini, and Kabbadi Adda.
