India, Aug. 18 -- Ashok Kumar Damani's family office Artha India Ventures (AIV) has marked the final close of its follow-on fund, Artha Select Fund (ASF), at INR 432 Cr, exceeding its original target of INR 330 Cr by 31%.

The investment vehicle will back top 15% of Artha's existing portfolio of more than 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-be-launched AVF II.

Over the next four years, the fund plans to invest INR 20 Cr each in 12-14 portfolio startups at the Series B and C funding stages.

"India has no shortage of promising ventures, but far too many face a capital drought between Series A and C. ASF ensures our winners have the firepower, strategic guidance, and operational backing to compe...