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Former executives from Alibaba and 9 Unicorns have launched a venture capital fund worth Rs 1,000 crore.




Raghav Bahl, who previously led investments for Alibaba Group's India operations, and Soham Avlani, a former partner at 9Unicorns, have unveiled a new venture capital fund named PROMAFT Partners, with a substantial corpus of Rs 1,000 crore.

Before his role at Alibaba, Bahl served as vice president at Bessemer Venture Partners, a global investment firm active in the US, Israel, and India. Avlani, on the other hand, has a background in public market investments.

PROMAFT Partners, a sector-agnostic fund, aims to invest in companies that have demonstrated a successful product-market fit. The fund intends to make 10 to 12 investments, with a focus on two to three investments each year.

The fund has received backing from prominent Indian family offices and market leaders such as Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse. These supporters will also serve as mentors to the portfolio companies of PROMAFT Partners.

The general partners of PROMAFT Partners plan to use their extensive global investment experience in regions like China, Southeast Asia, and Europe to assist startups in developing go-to-market strategies, business strategies, hiring practices, and securing financing.

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