India, Aug. 29 -- Early stage focussed VC firm a99 (formerly Artha99) is raising its third fund with a target corpus of $100 Mn (about INR 850 Cr).

With this fund, the firm aims to back 12-15 startups operating in the manufacturing and infrastructure sectors with a cheque size in the range of $5 Mn to $10 Mn (INR 44 Cr to INR 88 Cr).

The VC firm will focus on startups in the Pre-Series A to Series B stages, A99's founder and managing partner Vignesh Shankar told Inc42. Besides, the VC firm has received soft commitments of $30 Mn from existing and new investors.

a99 is aiming to announce the first close of the fund by April 2026, with no green shoe option. The development was first reported by YourStory.

Shankar founded Artha99 (a99) i...