New growth pool for tech and consumer startups
Venture growth firm Dharana Capital has raised $250 million for its second India-focused growth fund, according to regulatory filings and media reports. The capital will be deployed to invest in technology and consumer businesses across the Indian startup ecosystem.
Building on earlier capital and long-term vision
This new vehicle follows Dharana Capital’s first fund of $160 million, raised in 2022. The firm said it intends to support founders in building durable, standalone businesses that can potentially transition to public markets. Dharana typically writes larger growth-stage cheques tailored to individual company needs, and aims to invest in roughly 8–10 companies through each fund.
Focus sectors and investment approach
The fund will back “category-defining” companies in segments such as technology and consumer services, at a time when many Indian startups are scaling toward profitability and preparing for liquidity events. The firm is known for backing notable names at the growth stage, and its investments have historically spanned fast-growing consumer and technology businesses.
Growing assets under management
With the close of the second fund, Dharana Capital’s total assets under management are estimated at around $450 million, reflecting increased LP confidence in India-focused growth strategies. The new fund has attracted commitments from a mix of global limited partners, including university endowments and institutional investors, underscoring renewed interest in late-stage venture opportunities in India.
Backing founders for long-term success
Founder and managing partner Vamsi Duvvuri emphasised the firm’s long-term orientation and commitment to working closely with founders to build resilient, high-impact enterprises with strong growth potential and path to public markets.
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