Dharana Capital today announced it has raised its second growth fund of US$250 million, bringing its total assets under management to US$450 million. The new fund will focus on investing in next-generation category-defining tech and consumer businesses in India. Dharana’s investors include leading US university endowments, health systems and other non-profits.     

Commenting on the milestone, Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, said: “At Dharana, our vision is to back missionary founders building large, standalone, durable businesses. We believe India’s listed tech market cap will grow multi-fold over the next decade as more new-age enterprises go public. Our goal is to partner with a select few and play a meaningful role in this value creation journey.”

Dharana Capital takes a long term partnership approach with its portfolio companies, working closely with founders and management teams to help build durable businesses and prepare them for a successful transition to the public markets.