VC fund (Cat II) · Curated list
Promaft Partners
Growth (Series C+) · Sector agnostic · Mumbai
At a glance
- Stage focus
- Growth (Series C+)
- Primary sector
- Sector agnostic
- City
- Mumbai
- HQ / office
- 1108, Dalamal Tower, Free Press Journal Marg, Nariman Point, Mumbai 400021, Maharashtra, India
- Fund registered
- 2024
- Investments on record
- 8
- Corpus (as reported)
- INR 1,000 crore maiden fund (Fund I), announced/launched July 2024 (target fund size; SEBI Category II AIF, Reg. No. IN/AIF2/24-25/1497, registered 18 April 2024). Registration number independently confirmed on the firm's own official disclosures at promaft.com.
- Website
- www.promaft.com/
About
Promaft Partners ("PROduct MArket FiT") is a Mumbai-based venture capital firm founded in 2024 by founding general partners Raghav Bahl (former head of investments, Alibaba Group India — NOT the Quint/Network18 media founder of the same name) and Soham Avlani (former partner at 9Unicorns/100Unicorns). It runs an INR 1,000 crore maiden fund (SEBI Category II AIF, Reg. No. IN/AIF2/24-25/1497) backing startups with demonstrated product-market fit, deploying into a concentrated 10-12 company portfolio. The fund is backed by Indian family offices and founder/angel LPs including Paytm's Vijay Shekhar Sharma and founders of Zomato, PharmEasy, Livspace, VideoVerse and BrowserStack. Website independently verified as live and genuine; email and SEBI registration number confirmed on the official site.
Investment focus
Sector-agnostic; invests in startups with proven product-market fit (early-growth, stage/series-agnostic by their own framing, in practice participating in Series B rounds e.g. Wiom). Plans a concentrated portfolio of ~10-12 companies, 2-3 per year.
SEBI registration
SEBI AIF Category II — reported as “Seed/micro-VC (early-growth, product-market-fit stage VC) / Cat II”
- IN/AIF2/24-25/1497
SIDBI Fund of Funds
None found
Notable portfolio
Wiom (Omnia Information Pvt Ltd) — CONFIRMED Promaft Fund I investment: participated in Wiom's ~USD 40M round, June 2025, led by Bertelsmann India Investments & Accel (with Prosus, RTP Global); Swiggy — founders' PRIOR deal (Alibaba/9Unicorns era), NOT a confirmed Promaft Fund I investment; Paytm — founders' PRIOR deal, NOT confirmed Promaft Fund I; PharmEasy — founders' PRIOR deal, NOT confirmed Promaft Fund I; BigBasket — founders' PRIOR deal (Alibaba), NOT confirmed Promaft Fund I; Xpressbees — founders' PRIOR deal (Alibaba), NOT confirmed Promaft Fund I; Ola — founders' PRIOR deal (Alibaba), NOT confirmed Promaft Fund I; VideoVerse — appears as founder/angel LP & mentor, NOT a confirmed Promaft Fund I portfolio company
Team & organisation
PORTFOLIO MISATTRIBUTION (corrected): the logos on promaft.com and aggregator listings (Swiggy, Paytm, PharmEasy, BigBasket, Xpressbees, Ola, VideoVerse) are the founders' PRIOR deals at Alibaba/9Unicorns, NOT Promaft Fund I investments — only Wiom is an independently confirmed Promaft Fund I deal. Name collision: founding GP "Raghav Bahl" (ex-Alibaba India investment head) shares a name with the well-known Quint/Network18 media founder Raghav Bahl — these are DIFFERENT individuals; do not conflate. Firm is very new (2024 vintage), unproven track record. Private VC (not a government/DFI/university vehicle). HQ in India (Mumbai, Maharashtra) — not UP.
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Frequently asked
- What does Promaft Partners invest in?
- Sector-agnostic; invests in startups with proven product-market fit (early-growth, stage/series-agnostic by their own framing, in practice participating in Series B rounds e.g. Wiom). Plans a concentrated portfolio of ~10-12 companies, 2-3 per year.
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- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ PORTFOLIO MISATTRIBUTION (corrected): the logos on promaft.com and aggregator listings (Swiggy, Paytm, PharmEasy, BigBasket, Xpressbees, Ola, VideoVerse) are the founders' PRIOR deals at Alibaba/9Unicorns, NOT Promaft Fund I investments — only Wiom is an independently confirmed Promaft Fund I deal. Name collision: founding GP "Raghav Bahl" (ex-Alibaba India investment head) shares a name with the well-known Quint/Network18 media founder Raghav Bahl — these are DIFFERENT individuals; do not conflate. Firm is very new (2024 vintage), unproven track record. Private VC (not a government/DFI/university vehicle). HQ in India (Mumbai, Maharashtra) — not UP.
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.promaft.com/; https://inc42.com/buzz/former-alibaba-9unicorns-executives-float-vc-firm-promaft-partners-launch-inr-1000-cr-fund/