Mumbai Oct 23: Mumbai-based early-stage micro venture capital, Artha Venture Fund (AVF), announced a notable partial exit from fleet management company Everest Fleet, realizing a 1900 percent return on its investment.
Everest Fleet recently secured $20m in a Series B round spearheaded by Uber and Paragon Partners. Against this backdrop, AVF’s partial exit from the venture has (so far) materialised an IRR of 105%. Moreover, multiple LPs who initially invested in the Everest Fleet alongside AVF have also opted for partial exits in this round.
Artha Venture fund is backed by LPs like SIDBI, Shuchi Kothari, SAT Industries, Narendra Karnavat, Mr. Kailash Katkar of QuickHeal Technologies and Mr. Hari Jinaga of Crane CPE who have invested in AVF, said a press release today.
