Sandesha Jaitapkar, COO, Artha Group
Sandesha Jaitapkar, COO of Artha Group, states, “We’ve always had a mindset of investing before markets are ready for a sector. Understanding the pulse early has been a significant part of how we’ve built our portfolio.”
The firm initially focused on renewable energy assets and has since expanded into venture capital and alternative investment strategies. Its Artha Venture Fund I, valued at ₹220 crores, is fully invested, while the ₹450-crore Artha Select Fund is currently being deployed. Additional funds, including the Quest Fund and Prime Fund, are in development.
Notable investments from Artha include Agnikul, Biryani by Kilo (exited), LenDenClub, Rapido, Oyo (exited), Stay Vista, and Beardo (exited).
Edited excerpts:
How has Artha’s investment thesis evolved since starting with renewable energy?
Energy continues to be a key focus for us, albeit managed through a different structure within the group. We maintain a fixed-income model that acquires operating assets generating recurring cash flows.
We still seek out sectors where the market has not yet fully recognized the opportunities. Historically, we’ve invested in themes before they became mainstream, and this approach remains unchanged.
Which sectors currently excite you the most?
AI and space-tech are areas we are particularly passionate about. However, we are not sector-focused; rather, we prioritize backing founders who demonstrate strong conviction, execution capability, and compelling business models.
An exceptional founder operating in a promising market will always capture our attention, irrespective of the sector.
How do you define metrics that reflect long-term value across various verticals?
Investing across multiple verticals can create challenges in tracking timelines and measures of success.
We focus on one fundamental question: Are we genuinely increasing value on a per-unit basis over the long term? This perspective helps us avoid isolated optimization.
We have also constructed a portfolio where a significant portion of assets generates recurring cash flows, providing stability that facilitates long-term compounding.
How do you maintain trust with limited partners during volatile market conditions?
Building alignment with limited partners takes years. During uncertain periods, investors typically seek consistency. We aim to operate in a disciplined and predictable manner rather than reacting impulsively to every market cycle.
What is Artha’s exit strategy, and how many exits have you achieved to date?
Through AVF I, Artha is increasingly leveraging secondary sales and founder buybacks as alternatives to initial public offerings. Recent exits across 2025 and early 2026 have included Exotel (secondary sale), Biryani By Kilo (acquired by Devyani International), Stellar (founder buyback), and Lemnisk (partial secondary).
Published on May 25, 2026
