A new entity has been set-up by the founder of Oyo, Ritesh Agrawal. Softbank backed Oyo which is a hospitality chain of hotels and homes and the founder of this valuable startup has introduced Aroa Ventures.
Aroa Ventures will deal in placing bets into the early to the growth stage of the startups and with the help of this entity, Ritesh Agrawal will become the latest Indian entrepreneur to develop something that works as a vehicle to make personal investments.
According to the website, Singapore-based Aroa Ventures is planning to make investments ranging from $500,000 and $5 million and the target sector for these opportunities is consumer, technology, and leisure.
The head of the venture is going to be Gaurav Gulati. When Ritesh Agrawal founded the Oyo and its first headquarter was Gurgaon, Gulati was working as the chief operating officer at Innov8 which was then acquired by OYO for Rs.200 crores.
“We believe that the long-term environment will always be favorable for making value-add investments in companies with proven unit economics and high potential to scale. At Aroa, we focus on growth-stage businesses in the consumer, technology, and leisure infrastructure sectors. We are operationally-oriented and seek to partner with entrepreneurs of high repute, building long-lasting businesses,” the official website read.
Aroa Ventures, which is an investment firm, is getting sponsored by RACo Holding and Ritesh Agrawal handles operations at the company.It was really interesting to see where this separated investment vehicle created by the Indian entrepreneur for his personal investments goes.