India-based VC Arkam Ventures (formerly known as Unitary Helion) has reached a INR3.25b (approximately USD43m) first close for its debut fund. The vehicle, which targets INR7b (approximately USD93m), will invest in early-stage startups operating in the financial services, health care, food, agriculture, and logistics sectors. Investors in the fund include Capria, Small Industries Development Bank of India (SIDBI), Binny Bansal, Vijay Shekhar Sharma, and Rajesh Magow, along with other US- and India-based family offices. Read more