The launch of Ortella Global Capital's (OG Capital) venture capital fund, valued at Rs 300 crore (USD 36 million), has been announced. The company bills itself as the first and only venture capital fund in India that focuses on co-building businesses with creators.
OG Capital uses a co-building approach, providing capital and practical assistance to help firms develop and expand into possible unicorns.
The fund has already sponsored three promising firms and intends to spend up to Rs 15 crore (USD 2 million) in over 20 enterprises. It seeks to provide investors with 10X returns at a 50% CAGR. The venture capital firm claims that it would focus on early and growth-stage firms offering consumer and business solutions.
"We are co-building businesses that prioritize sustainability, gender diversity, and grassroots-level impact in addition to aiming for 10x returns for our investors," stated Sayan Ghosh, Managing Partner at OG Capital.
Ghosh has been an investor, investment banker, and entrepreneur for more than ten years. He played a key role in promoting investments and exits for businesses like Lenskart, upGrad, 1mg, and BigBasket during his more than three years at the World Bank.
A press release claims that Ghosh has a history of generating exits valued at over Rs1,500 crore (USD 200 million) at a 40 percent CAGR. After assessing more than 350 funds, including venture capital, growth equity, private equity, and venture debt funds around India, he has also put Rs2,500 crore (USD 300 million) as a limited partner.
