New Delhi: ValuAble, India’s first purpose-led venture debt fund, announced the joining of Ajay Mittal as General Partner (GP) and Investment Manager (IM). This move is a step towards ValuAble’s commitment to fostering an innovation and entrepreneurship ecosystem. Ajay joins to expand the venture debt fund, bringing a vast network within the ecosystem, institutional investor connections, institutional fundraising experience, and an equity lens to the team.
A seasoned finance leader with over three decades of experience in fund management, Venture Capital/Private Equity, and investment strategy, Ajay will guide the dynamic team in identifying and nurturing visionary founders who are reimagining a better world through disruptive solutions.
Ajay Mittal’s finance career is defined by significant milestones and achievements. An alumnus of Delhi University’s Shri Ram College of Commerce, he became a rank-holder Chartered Accountant before joining Unit Trust of India in 1993, where he quickly ascended the ranks to manage the country’s first offshore tracker fund. From 2000 to 2009, Ajay raised and managed two successful venture capital/private equity funds at UTI Venture Fund.
In 2009, Ajay became a part of the founding team at Ascent Capital and was pivotal in establishing the firm as a major private equity player with investments across retail, commerce, technology, pharma, and infrastructure sectors. In 2023, Ajay became a shareholder and took the position of Director at Laqshya Media, one of the leading media companies in India.
Ajay’s strategic acumen and ability to navigate diverse industries attest to his versatility as an investment leader.
Ajay Mittal, newly appointed GP and IM at ValuAble, said, “I am elated to join the passionate team at ValuAble and leverage my professional experience towards their inspiring mission. Backing innovative founders working to solve critical issues has been a personal calling, and ValuAble provides the perfect platform to create lasting impact in society.”
Rahul, Co-Founder of ValuAble, said, “Having been associated with Ajay since 2019! What I truly admire about Ajay is his grounding, passion for making a difference, ability to bring people together, and his knack for putting others on a higher pedestal. He is solution-oriented, has clarity of execution, and excels at aligning stakeholders. Ajay’s extensive experience and strategic vision will be invaluable to ValuAble as we continue to support innovative and impactful ventures. We are incredibly grateful to welcome him to our team and look forward to the journey ahead.
ValuAble is looking to close its first fund soon, with a target amount of Rs. 200-250 crores, and is in talks with over 50 startups as potential investments for this fund.
-Based on Press Release
