Raghav Bahl, former head of investments at Alibaba Group’s India operations, and Soham Avlani, previously a partner at 9Unicorns, have unveiled the launch of PROMAFT Partners, a venture capital fund worth Rs 1,000 crore. Before his tenure with Alibaba, Bahl served as vice president at Bessemer Venture Partners, a prominent global fund operating in the US, Israel, and India. Avlani comes from a background in public market investing.
PROMAFT Partners, a sector-agnostic fund, aims to invest in companies that have demonstrated strong ‘product-market-fit’. The fund plans to execute 10-12 investments, targeting two to three per year.
The fund has garnered support from Indian family offices and industry leaders such as Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse, who will also act as mentors to portfolio companies.
Drawing on their extensive global investing experience across China, Southeast Asia, and Europe, the general partners intend to assist startups in refining their go-to-market strategies, enhancing business operations, and securing financing.
