London-based VC Araya Ventures has announced the first close of its Super Angel Fund at €9.8 million, with a goal to raise a total of €22.5 million.
- Founded in 2022 by Rupa Ganatra-Popat, Araya Ventures is a fund that invests in startups at pre-seed and seed stages. To date, it has a portfolio of 26 startups, including Code First Girls, Flown, Life Supplies, Jude, and Sojo.
- The new Super Angel Fund is a solo GP fund that plans to invest in around 60 startups with ticket sizes ranging between €180,000 and €490,000 over the next four years, while also providing unparalleled access to expertise, networks, and support for founders.
- Araya Super Angel Fund aims to make 10 to 15 investments per year across healthech, fintech, commerce, and future of work.
- The investment strategy will include both Enterprise Investment Scheme (EIS) and non-EIS investments. Moreover, 25% of the fund is allocated to support founders who have shown prior success in building businesses.
- The Araya's new fund got support from a variety of investors, including Rachel Pendered, Dr. Raoul-Gabriel Urma, Niraj Pabari, Daljit Sandhu, and financial experts from the Royal Bank of Canada, Plurimi, and Blackrock. It also includes top executives and family offices from different industries.
"I am grateful for our fund investors for believing in us from the get-go, colleagues, and partners who’ve worked tirelessly in the background, friends from the eco-system for their endless guidance and introductions, and my family for their heart-warming support," Founder and Managing Partner at Araya Ventures, Rupa Ganatra Popat, stated.
