PROMAFT Partners

PROMAFT Partners is a Mumbai-based venture capital firm established in 2024, focusing on investments in early-stage and later-stage companies. The firm distinguishes itself by prioritizing the quality of Product Market Fit (PMF) over revenue scale or the specific series of capital being raised. They employ proprietary frameworks like 'CURW' and 'CEND' to assess PMF quality and competitive advantages, aiming to back bold, innovative ideas and build resilient businesses with a long-term, patient capital approach, coupled with deep engagement, guidance, and mentorship.

The firm was founded by Raghav Bahl, former head of Investments at Alibaba Group India, and Soham Avlani, an ex-partner at 9Unicorns. PROMAFT Partners Fund I is registered with SEBI as a Category II Alternative Investment Fund, effective April 18th, 2024. The founders leverage their extensive global investing experience across regions like China, Southeast Asia, and Europe to support startups in various aspects, including go-to-market strategy, business development, hiring, and financing.

While the founders have a notable track record of investments in their previous roles, including companies like Swiggy, Paytm, BigBasket, XpressBees, TaxiForSure, VideoVerse, and PharmEasy, PROMAFT Partners Fund I has begun building its own portfolio. Key investments by the fund include Wiom, an internet service provider, and The Hosteller, a backpacker hostel network and travel super app. The firm typically invests in 10 to 12 companies per fund, with an entry point generally around Series A or Series B funding rounds, after a company has demonstrated strong product-market fit.

The core team at PROMAFT Partners includes Founding General Partners Raghav Bahl and Soham Avlani, along with Abhishek Kshirsagar. Their collective expertise is geared towards identifying promising ventures with strong PMF early on and guiding them to focus on critical metrics for sustainable growth and value creation, rather than pursuing rapid growth without foundational strength.