Archana Jahagirdar, founder and managing partner of Rukam Capital, says the venture capital firm aims to help build a thriving ecosystem for Indian founders by enabling access to deeper pools of limited partner (LP) capital. Edited excerpts from an interview:
How many funds have you raised to date?
We have raised multiple funds with support from institutions, high net-worth individuals (HNIs), limited partners (LPs), and family offices. This approach aligns with our belief in building a robust Indian startup ecosystem. The first fund, the ₹150-crore Rukam Capital, was raised in 2019 to back early-stage consumer startups. Our recent fund, ₹100-crore Rukam Sitara, was launched in 2023, focused on technology-driven businesses.
What is the strength of your current portfolio? Which sectors are you bullish on?
We are optimistic about, and primarily focused on, consumer-oriented companies across sectors such as beauty and personal care, pet care, home décor, fashion and apparel, food and beverage, consumer durables, single-speciality healthcare and jewellery.
We invest in early-stage consumer products and services companies with exceptional potential for growth and returns. We have invested in companies like upliance.ai, Svami, Sweepy Owl Coffee, GoDesi, Indus Valley, Burger Singh and Yoho.
Which fund are you deploying from currently?
We are currently deploying from our first fund. To date, we have deployed capital across a curated portfolio of high-potential consumer products and services companies.
What is your investment thesis?
We invest in purpose-driven founders passionate about solving complex challenges through innovative products and businesses that people genuinely love. We focus on early-stage, mission-driven ventures that address real-world problems with creativity and impact. Our priority is supporting companies with strong product-market fit, robust business models and clear growth potential. We are drawn to sectors undergoing rapid digital transformation and increased consumer adoption.
Do you focus on early-stage funding or growth- and late-stage?
Rukam Capital primarily focuses on early-stage funding. However, we also consider opportunities in growth-stage companies that align with our investment thesis. We intend to partner with founders from the ideation phase, up to scaling their businesses, supporting them as they build and grow.
What is the average cheque size you deploy?
Our average cheque size varies, depending on the stage of the company and the specific investment opportunity. However, we are comfortable investing across a range of ticket sizes.
Have you had any exits? What sort of exit do you prefer?
We have successfully exited two companies — Pilgrim and Anveya. While exits depend on various external and internal factors, we don’t follow a rigid strategy. We aim to achieve exits aligning with our investment timeline while delivering value for all stakeholders.