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Aavishkaar raises Rs 5.94bn

The India-based venture capital firm has started investing from its sixth fund.

The Aavishkaar Bharat Fund, the firm’s sixth fund, has held a first close at Rs 5.94 billion ($92 million; €78 million). The India-focused vehicle will invest in start-ups and early stage growth businesses in the agriculture, financial services, healthcare, renewable energy and logistics sectors. The fund target is undisclosed.

Investors in ABF include SIDBI, the CDC Group, the Munjal Family Office and TIAA.