Auraska Ventures plans fund to back India’s cultural economy

Auraska Ventures announced plans to launch a Rs 500 crore ($53.6 million) Category II Alternative Investment Fund (AIF), named Auraska Opportunities Fund, focused on India’s cultural economy. The fund will target 10-15 companies in the seed to Series B stages, utilizing both equity and debt instruments. Auraska anticipates investment from high-net-worth individuals (HNIs), family offices, corporations, and celebrities, capitalizing on increasing investor interest in India’s creative sectors, spurred by government recognition of the “Orange Economy” and growth in media and gaming.

Founded by Vishal Mahajan, Auraska Ventures brings over 27 years of experience in investment banking and alternative investments to the table, alongside an advisory practice with a $3 billion deal track record and a venture-building arm. Mahajan emphasized the unprecedented global influence of India’s cultural economy and the lack of institutional capital in these sectors, positioning Auraska as a platform combining advisory, investing, and venture building.

The firm’s board includes Ameet B. Naik, Rajaram Ajgaonkar, Shailesh Haribhakti, and Ramesh Jude Thomas. Stuti Shetty, Chief Business Officer, highlighted the strategic value offered by Auraska’s investor network, emphasizing the influence, access, and participation of HNIs, celebrities, and family offices in shaping portfolio company outcomes. Auraska aims to deploy over $1 billion across multiple investment vehicles in the next decade.

(Source：Vccircle)