Arāya Ventures, founded and led by entrepreneur-turned-investor Rupa Popat, has successfully completed the first close of its Arāya Super Angel Fund, raising over €9.8 million. This marks a significant milestone for the fund, which aims to ultimately secure €22.5 million to invest in early-stage startups across sectors such as health tech, fintech, climate, commerce, and the future of work.
This first amount raised will be deployed to support pre-seed and seed-stage companies, with individual investments ranging from €180,000 to €490,000. Arāya Ventures plans to invest in up to 60 startups over the next four years. This initial close reflects strong investor confidence in Arāya’s community-powered approach, which emphasizes not just financial backing but also substantial strategic support for portfolio companies.
The fund’s early success is bolstered by a roster of high-profile investors, including Bridgerton actress Charithra Chandran, former Credit Suisse CEO Phil Cutts, and former Browns CEO Holli Rogers. These investors, along with many others, have been drawn to Arāya’s unique model that promises to deliver more than just capital, providing startups with critical value-added services and strategic guidance.
A Community-Powered Approach
Arāya Super Angel Fund’s community-powered model is designed to address a growing need in the venture capital ecosystem, where many founders feel underserved by traditional investors. A recent Forward More than Money report highlighted a disconnect, with 92% of VCs claiming to be value-add investors, but only 61% of founders agreeing. Arāya aims to bridge this gap by leveraging its network of investors, entrepreneurs, and industry experts to provide comprehensive support to its portfolio companies.
The $10.6 million raised will be allocated through a flexible investment strategy, accommodating both Enterprise Investment Scheme (EIS) and non-EIS investments. The fund plans to make 10 to 15 investments annually, ensuring a diversified portfolio. Additionally, 25% of the fund is earmarked for repeat founders who have demonstrated prior success in building businesses.
Rupa Popat stated: “Raising over €9.8 million in our initial close is a strong validation of our approach and mission. This is just the beginning, and we are committed to providing not only financial support but also the strategic value that can help early-stage founders succeed. We look forward to continuing to build on this momentum as we work towards our €22.5 million target.”
Read the orginal article: https://www.eu-startups.com/2024/08/london-based-araya-ventures-completes-the-first-close-of-its-super-angel-fund-at-e9-8-million/
