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Surat-based micro venture capital firm Ivy Growth Associates on Thursday said it plans to launch a $30 million VC fund, IVY Growth Fund, for revenue-based and traction-based startups by FY24-25.

Deployed over a period of 3-5 years, the fund will target startups in the pre-Series A stage and beyond, focused on sustainability, agritech, healthcare, deeptech, Web3, and the AI domain. 

Rachit Poddar, Prateek Toshniwal, and Sharad Todi (Co-founders, Ivy Growth) and Mehul Shah (Advisor, Ivy Growth) will lead the VC fund, including contributions from their personal and micro VC capacity, a press release read. Its investors will include family offices, UHNIs, and global professional investors.

“Through the $30 million fund and our global fund setups and collaborations, we will provide funding to pre-Series A and above level startups in jurisdictions all across the globe focusing on regions like Asia and the Middle East, which have the growth potential to become successful in their respective sectors. We are excited to support the growth of promising startups and contribute toward the global economy,” said Prateek Toshniwal, CA and Co-founder of Ivy Growth Associates.

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Amid a global economic slowdown, the IVY Growth Fund will help startups gain access to global markets and opportunities, besides necessary resources to explore growth options. It will also collaborate with funds based in the Middle East, Singapore, Japan, the UK, and the US to help more Indian startups get access to global markets and capital.

The funding will provide startups with much-required financial support to tide over the economic downturn and debt financing restraints, and scale growth plans by investing in infrastructure, innovation, and technology, the micro VC fund said. 

So far, Ivy Growth Associates has invested in over 70+ startups, including Zypp Electric, BluSmart, Emotorad, Bebeburp, Bummer, Regrip, GrowIt, Evify Logistics, Navitas Alpha, and more.

By 2026, the micro VC fund plans to launch a $30 million global fund in DIFC in Dubai, UAE, and Saudi Arabia, to extend capital to promising international startups. 

With the UAE, Saudi Arabia, Israel, and India having the potential to create 250+ “proficorns” (profitable unicorns) in the next five years, IVY Growth wants to play a vital role in the growth of this entrepreneurship journey.