Sarona AMC Invest $2Mn In VenturEast Fund III
Canada based Sarona AMC has invested $2Mn in VenturEast Fund III LP through Sarona Frontier Markets Fund 1 LP.
Apart from Ventureast, it has also made investments in two global financial services funds - $1.5 Mn to Women's World Banking (WWB) Isis I LP Fund, and $250,000 to MicroVest+ Plus Fund LP.
Started in 1997, Venturest was a 51:49 joint venture between Dynam Ventureast Pvt Ltd and Andhra Pradesh Industrial Development Corp. Ltd (APIDC).
Ventureast manages over $300 Mn AUM and invests in small and mid-market companies in India with a focus on the healthcare, clean technology and agribusiness sectors.
It has four VC funds, two incubation fund and one micro equity fund.
The team consists of Sarath Naru, Ramesh Alur, Raghuveer Mendu, C. Shekhar Kundur, Bobba Venkatadri and Siddhartha Das.
Ventureast has recently invested in Rs25Cr in Coimbatore based meat processing company - VKS Farms Private Limited. Its other investment portfolio in India includes Goli Vadapav, Atyati Technologies, Loylty Rewardz, Si2 Microsystems, C&K Management, Triad Fuel, eYantra, Ad2Pro Media among others.
Sarona Asset Management is based in Waterloo, Canada, and Amsterdam, The Netherlands. It is a co-founder and/or manager of numerous investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 Mn in AUM in emerging and developing country markets around the world.
Sarona invests in small to mid-market companies that serve the large and growing lower middle class in emerging and developing country markets.
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