Mumbai-based Asha Ventures has secured US$10 million from British International Investment for its debut fund.

The firm aims to close Asha Ventures Fund-I by September 2025, after reaching a US$50 million first close in December 2023.

Managing partner, Amit Mehta, said the fundraising is on track, despite the heavy diligence required with large institutions.

Founded in 2015 by Vikram Gandhi and Pramod Bhasin, Asha Ventures backs companies like Adda 24×7, Vaastu, Avanti, and Nepra.