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AUM Ventures Launches Venture Fund in ADGM to Bridge Indian Founders to Global ResourcesADGM 23/11/2022
AUM Ventures, an early and pre-growth stage venture capital firm empowering tech/tech-enabled and consumer-focusing Indian entrepreneurs, today announced the formal launch of its maiden venture capital fund. AUM Ventures is a VC fund licensed and regulated by Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital emirate.
India recently surpassed the other markets and positioned itself as the fifth global economy and with a projected growth rate of more than 6%, it is forecasted to be the third largest economy by 2030. India’s GDP is set to more than double to US$8 trillion along with its GDP per capita also doubling by 2030. India is the youngest startup nation and is home to the third most unicorn-valued startups in the world.
AUM Ventures aspires to build India’s reputation as a formidable venture capital destination by creating a thriving venture platform connecting global investors and Indian entrepreneurs. As a trusted partner, AUM Ventures works closely with ambitious Indian entrepreneurs in building successful, sustainable, and scalable global businesses. The firm aspires to build a collaborative platform to bring together investors and entrepreneurs to unlock synergies and growth through proactive engagement.
With offices in Abu Dhabi, Bangalore and Mumbai, AUM Ventures bridges India with global markets, working with India’s large technical diaspora to bring ideas and innovation back to India, while also acting as a platform for Indians looking to take their ideas to the global stage. The firm works with founders to set up regional operations and raise follow-on capital from global investors to facilitate market expansion.
To date, AUM Ventures has invested in 11 companies, including Skyroot Aerospace (Spacetech), Smiles.ai (Dentalcare), GlobalFair (Cross-Border ECommerce), Svish (D2C Men’s Hygenie), LemmeBe (D2C Female Hygiene), NewMe (Gen Z Fast Fashion), Esports XO (Gaming), Fenix (Micro Mobility), Myways.ai (Edtech), Krayonnz (Edtech) and Firstsense (AI) — investing alongside major global and Indian firms. Several deals have already received follow-on capital from large institutional investors.
Chetan Mehta, Founding Partner, AUM Ventures, commented: “India is in the midst of a thrilling period in its socio-economic history, benefitting from a thriving demographic dividend, exceptionally efficient internet penetration, and the growth of tech-focused businesses. As a globally-connected firm, AUM Ventures aims to bring global best practices and strategic resources to Indian founders, while creating synergies for global investors looking to tap into India’s dynamic digital economy. Our investing strategy is designed to increase the magnitude of success and generate greater risk-adjusted returns for our investors. One of our key focus areas will be to bring our Indian portfolio companies to the UAE, help them set up their regional base at ADGM, and be their growth enablers in the region. Further, we will seek to invest in non-consensus, overlooked, and underfunded sectors off the radar of other firms, believing that founders can create entire market categories through bold ideas.”
Arvind Ramamurthy, Chief of Markets at ADGM, said: “UAE and India share a great relationship and we are excited to partner with AUM Ventures as they build a thriving platform to connect Indian founders with the vibrant and trusted ecosystem at ADGM. This partnership will also enable local investors and family offices to get access to the dynamic and evolving Indian venture capital space with a trusted partner in AUM Ventures. As a business enabler, ADGM is looking forward to working closely with AUM Ventures to collaborate with more Indian companies and entrepreneurs to better address the development and growth aspirations of their businesses.”
The announcement was made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM between 14 and 18th November 2022, in partnership with key economic drivers of the Abu Dhabi economy and a group of global and regional financial institutions. The week-long event serves as a platform for in-depth conversations around the MENA region’s thriving financial sector, industry trends, developments and innovation involving financial markets and global banking.