India, Jan. 12 -- Urban Company-backer Dharana Capital has raised $250 Mn (INR 2,254.8 Cr) as part of its second growth fund today to back tech and consumer businesses in India.

With the close of Fund II, the investment firm said that its assets under management have risen to $450 Mn.

Dharana Capital's founder and managing partner Vamsi Krishna Duvvur told Inc42 that the firm is looking to back 8-10 growth stage startups operating in the tech and consumer space via the fund. Duvvur, however, didn't disclose the average ticket size of investment the firm would be targeting.

"At Dharana, our vision is to back missionary founders building large, standalone, durable listed businesses. We believe India's listed tech market cap will grow mul...