US-Based Alphatron Capital closes maiden fund at $30M to support Indian startups

US-based venture capital firm Alphatron Capital, formerly known as SMK Ventures, has closed its maiden fund at $30 million. The fund, which was oversubscribed by 20%, had an initial target of $25 million.

Focusing on diverse sectors 

Alphatron Capital's strategic focus is to act as a conduit for US investors, providing them with diversified exposure to India's tech companies. The firm will focus on sectors, including Enterprise SaaS, Fintech, HealthTech, AI/ML, Digital Content, and Direct-to-Consumer (D2C) ventures.

"The Indian economy, driven by technological advancements, presents tremendous growth opportunities for investors. We are excited to serve as a gateway for US-based investors to participate in India's future over the next few decades," said Suresh Vaswani, Founding Partner and Chairman of Alphatron Capital.

Adopting sector-agnostic approach 

The firm adopts a sector-agnostic, tech-led approach to investments, which helps it to identify and support startups that are either category creators or category leaders.

“With 11 fund-of-fund investments and five special purpose vehicle/Co-investments already made, Alphatron Capital remains committed to identifying and supporting innovative tech-led funds and co-investment opportunities,” said Karan Negi, Founding Partner and CEO of Alphatron Capital.

Operating as a fund of funds

Alphatron Capital, which operates as a fund of funds, conducts extensive due diligence on multiple funds in India to target those with the highest growth potential.

To date, Alphatron has invested in 11 funds, including notable names like Blume, 3one4 Capital, Chiratae Ventures, and Speciale Invest, and has made five SPV/co-investments. The methodical approach to investment underscores Alphatron's commitment to identifying and supporting innovative tech-led funds and co-investment opportunities.