New Delhi, April 15 -- Auraska Ventures said it is planning to launch a Rs 500 crore ($53.6 million) category II alternative investment fund (AIF) to invest in India's cultural economy, spanning media, entertainment, gaming, sports and consumer brands.
The proposed fund, Auraska Opportunities Fund, will invest in 10-15 companies from seed to Series B stages, with a mix of equity and select high-yield debt opportunities. The firm expects participation from high-net-worth individuals (HNIs), family offices, corporates and celebrities.
The firm said that fund comes at a time when investor interest in India's creative sectors is rising, supported by policy recognition of the "Orange Economy" and strong growth across media, gaming and creator-led businesses.
Auraska Ventures was founded by Vishal Mahajan, who has over 27 years of experience in investment banking and alternate investments, including transactions across consumer sectors. The firm also operates an advisory practice with a track record of over $3 billion in deals and a venture-building arm focused on areas such as celebrity digital rights and legal tech.
"India's cultural economy - its media, entertainment, sports, gaming, and creator ecosystem - is generating global influence at a scale that has no precedent. The government's recognition of the Orange Economy, the regulatory clarity around gaming and digital rights, and the sheer demographic energy of the country's creative sectors have created an investable opportunity that is both timely and structural," said Mahajan.
"Yet institutional capital has been largely absent from these sectors. Auraska is built to change that. We are not just launching a fund. We are building a platform that combines advisory, investing, and venture building into one integrated model, because these sectors reward operators who understand the ecosystem, not just financiers who deploy capital from a distance," Mahajan added.
Auraska's board includes, Ameet B. Naik, founder of Naik Naik & Co., Rajaram Ajgaonkar, founder of R.M. Ajgaonkar & Co; Shailesh Haribhakti, a sustainability advocate and Mr. Ramesh Jude Thomas, founder of EQUiTOR.
Stuti Shetty, chief business officer at Auraska Ventures, said the investor base would go beyond capital to offer strategic value. "A key differentiator for Auraska is the strength and depth of its HNI relationships. Our investor base is not just capital, it is influence, access and strategic value.
"By bringing together HNIs, celebrities, sports personalities and family offices, we are building a network where investors actively participate in shaping outcomes for portfolio companies," Shetty added.
Auraska said it aims to deploy over $1 billion across multiple investment vehicles over the next decade.
Published by HT Digital Content Services with permission from VC Circle.