Artha Venture Fund, the Mumbai-based early-stage and seed venture capital firms are set to launch a startup accelerator program to mentor and invest in a selected few startups across the nation.
The venture capital firm plans to train around 20 startups and is actively looking for sponsors. Artha Venture Fund plans to set up a school for entrepreneurship in the upcoming six months and is in talks with a prominent US university to partner with.
Talking about the programme, Anirudh Damani, Managing Partner, Artha Venture Fund, said, “There is a lot to learn about ethics and management from the western venture ecosystem. Indian entrepreneurs need to learn to delegate, and we hope these learnings can be taught from the programme.”
The fund’s accelerator program’s models will be based on the US-based accelerator Y-Combinator. The accelerator will provide training to two batches of startups every year and mentor them with resources and networking for an exchange of equity.
Artha Venture Fund is backed by the Artha Group and primarily invests in startups from renewable energy space. Artha Group is into innovative digital designs and renewable energy business.
Mumbai-based startup Haazri which sells tea and P2P lending startup LenDenClub has raised fundings from the venture capital firm. Artha Venture Fund invested INR 1.25 crores in LenDenClub last month.