VC firm Alphatron Capital raises $30 mn in its first fund

New Delhi: US-based venture capital (VC) firm Alphatron Capital (formerly SMK Ventures) on Thursday said that it raised $30 million (nearly Rs 249 crore) in its first fund.

According to the company, the fund aims to provide access to a diversified pool of India’s technology and tech-leveraged companies while minimising entry barriers for US investors.

"The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors," Suresh Vaswani, Founding Partner and Chairman of Alphatron Capital, said in a statement.

"We have a sector-agnostic, tech-led approach to our investments that allows us to tap into India's burgeoning technology landscape," he added.

The company's investment focus includes enterprise SaaS (Software-as-a-Service), fintech, healthtech, AI/ML, digital content, and direct-to-consumer (D2C) sectors.

"With our unique structure of investments into funds and co-investments, we revolve our thesis around strong fundamentals, product-led & tech-led startups, distinguished as category creators or category winners," said Karan Negi, Founding Partner and CEO of Alphatron Capital.

Founded by Vaswani, Negi, Sudhir Pai (CFO), and Vishwesh Pai, Alphatron Capital focuses on investing in high-quality venture funds and technology companies, aiming to provide US investors with access to a diverse range of companies in India's emerging economy.