a99 on Track to Raise $100 Million for Startup Investment

a99, an early stage focused VC firm formerly known as Artha99, is gearing up to raise its third fund with an ambitious target corpus of $100 million, which equates to around Rs 870 crore. The firm plans to invest in 12-15 startups in the manufacturing and infrastructure sectors, with individual investments ranging between $5 million and $10 million.

According to a99, the focus will be on startups in the Pre-Series A to Series B stages. The firm has already secured soft commitments amounting to $30 million from both existing and new investors. The goal is to announce the first close of this fund by April 2026, with no green shoe option expected.

Background of a99 and Its Investment Journey

Founded in 2021 by Vignesh Shankar, the Chennai-based firm launched its second fund in 2022, with an initial target corpus of Rs 50 crore. This was later increased to Rs 105 crore through the exercise of a greenshoe option.

With Fund II, a99 has successfully invested in companies such as Aditya Avartan, Intangles, Innocule, EzerX, Lyzr.ai, and Raptee, among others. From its first fund, investments were made in Vajro, Intents Mobi, and Sarva.

Noteworthy Exits and Future Aspirations

a99 has achieved one notable exit from its Fund I portfolio—Futurice UK, an application development software provider based in Helsinki and a subsidiary of Futurice Finland. This exit allowed a99 to realise 7X returns on their investment.