We use cookies for analytics and ads to improve your experience. You can accept or decline. See our Privacy Policy.
Building a global startup ecosystem from Surat
Arigato Capital Fund is a SEBI-registered Category I AIF venture capital fund launched by Surat-based micro VC firm IVY Growth Associates. The fund has a target corpus of ₹250 crore, with a first close target of ₹100 crore. It was SEBI-registered in November 2023 and publicly announced in May 2024. IVY Growth Associates was founded in 2021 by Rachit Poddar, Prateek Toshniwal, Mehul Shah, and Sharad Todi, and has invested in over 100 growth-stage startups across India via its angel syndicate and micro-VC vehicles. The fund also serves as the formal institutional vehicle for IVY's ambition to build a global startup corridor connecting India with the Middle East, the US, and Europe.
Arigato Capital is a sector-agnostic fund targeting startups at the post-seed or pre-Series A stage, with an average ticket size of $500,000 (approximately ₹4 crore). It focuses on companies in high-growth sectors including agritech, cleantech, generative AI, fintech, consumer brands, and SaaS. The fund emphasises tier-2 and tier-3 city startups underserved by mainstream VC, handholding founders from incubation through growth. IVY Growth serves as a limited partner in the fund, deepening alignment between the angel network and the formal AIF vehicle.
Rachit Poddar
Co-Founder and Director
Rachit Poddar is a second-generation entrepreneur from The Rachit Group, a Surat-based textiles manufacturing conglomerate established in 1992. He is the Co-Founder of IVY Growth Associates and the SEBI-registered contact person for Arigato Capital Fund. He is also the Founder of 3C's & Co., a luxury lab-grown diamond jewellery brand from Surat. He holds a BA (Hons.) in Business Management from the University of Wolverhampton, and an M.Sc. in Entrepreneurship, Innovation & Enterprise Development from the University of Westminster, London, along with Executive Education in Corporate Finance. He has collectively invested in 100+ startups spanning pre-seed to Series A and was named to the Forbes 30 Under 30 Asia list.
Prateek Toshniwal
Co-Founder
Prateek Toshniwal is Co-Founder of IVY Growth Associates and a Partner at MI Capital Services. He holds a BCom in International Business from Narsee Monjee College of Commerce and Economics, Mumbai. He has led investments in 127 businesses including 32 in his personal capacity, with four successful exits and three companies now valued above $1 billion. He is also a partner at MICS International with focus on the UAE market, reflecting IVY's international expansion strategy.
Mehul Shah
Co-Founder
Mehul Shah is a Co-Founder of IVY Growth Associates and a co-founder of Arigato Capital Fund. No additional public biographical information is available beyond his role as a founding partner of the firm.
Sharad Todi
Co-Founder and Director
Sharad Todi is a Co-Founder and Director of IVY Growth Associates and a co-founder of Arigato Capital Fund. He is based in Surat. No additional public biographical information is available beyond his founding role at IVY Growth.
No insights published yet.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.