HDFC AMC backs Athera Venture Partners; Warmup Ventures launches Fund II

Athera Venture Partners has roped in HDFC AMC’s fund of funds as an LP for its Fund IV, while Warmup Ventures is launching its second fund.

HDFC AMC invests in Athera’s Fund IV

Tech-focused venture capital fund Athera Venture Partners, formerly known as Inventus India, on Wednesday said that HDFC’s fund of funds has invested in its Fund IV, which is scheduled to close in 2025.

HDFC AMC’s Select AIF FoF I Scheme will be a dominant LP in Athera’s Rs 900-crore fund to be invested into fast-growing tech startups operating in the consumer Internet, enterprise software, AI, and other emerging technology sectors.

From Fund IV, Athera has already invested in startups such as Ati Motors – an autonomous robotics company; Terra – a 3D immersive online gaming platform; ClickPost – a software to help brands manage logistics; Cyn: Lr — a computer vision for robotics; Hyperbots — an AI automation company; and Billion Hearts, a creator of simple digital consumer products for a global audience.

With these six investments, 30% of the fund’s portfolio is already constructed and it is already in the positive IRR territory.
Over the next 18-24 months, Athera will invest in a dozen more such startups from Fund IV, the firm said.

Warmup Ventures launches $35m new fund

Early-stage venture capital firm Warmup Ventures said it has launched its second fund, with a corpus of Rs 300 crore ($35.3 million), to back startups in the deeptech, climate, and sustainability sectors.

Founded by three entrepreneurs — Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary — Warmup Ventures plans to invest Rs 5-7 crore each in 25-30 early-stage startups across sectors with a significant provision for follow-on rounds.

Established in mid-2023 as a syndicate fund, Warmup Ventures has backed over 15 startups including Bobabhai, Nitro Commerce, Minimizes, RocketPay, and Balwaan Krishi.

“Having experienced the founder’s journey ourselves, we deeply understand the importance of the right capital in
driving a venture’s success,” Bansal said.

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