India, June 5 -- Ashokkumar Damani's family office Artha India Ventures (AIV) has claimed that its micro VC arm Artha Venture Fund-I (AVF-I) has generated a 61% internal rate of return (IRR) at close.

Artha India Ventures said in a statement today that the fund, which was closed in FY19 at INR 225 Cr, is approaching its full deployment. It claimed to have deployed INR 175 Cr in 32 seed stage startups from the fund. AVF-I was Artha's maiden fund with a corpus of INR 200 Cr and a greenshoe option of INR 100 Cr.

The statement from the family office also said that the fund's distributed to paid-in capital (DPI) is approaching 20% on the back of recently signed exit under diligence and last year's partial exit from fleet management startup E...