Dharana Capital raises $250 million second growth fund, to back India’s tech and consumer startups

Dharana Capital has secured $250 million for its second growth fund.

This capital infusion brings the firm’s total assets under management (AUM) to $450 million.

The fund will target investments in India’s technology and consumer-focused businesses.

Limited partners in the fund comprise prominent US university endowments, healthcare systems, and non-profit organizations.

Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, stated: “Our strategy centers on supporting visionary entrepreneurs building substantial, independent public companies. As India’s listed tech sector expands significantly through new public listings in the coming decade, we aim to actively participate in this growth by partnering with select market leaders.”

Notable portfolio companies include Urban Company, LAT Aerospace, Petpooja, Vyapar, Botlab/Vayudh, Itilite, and Beyond Appliances.

January 12, 2026