Arāya Ventures rolls out €22 million debut fund to back 60 innovative startups

London-based Arāya Ventures, announced today it has completed a second close of the Arāya Super Angel Fund at €22 million and received a €6 million commitment from British Business Investments.

This subsidiary of the British Business Bank will be co-investing alongside the Arāya Super Angel Fund. The community-powered fund which will invest in up to 60 innovative pre-Seed and Seed stage primarily UK startups across the next four years that are transforming Health, FinTech, Commerce and the Future of Work.

Founder & Managing Partner Rupa Popat said: “This is Arāya Ventures’ debut fund and I’m incredibly proud of what we are able to offer both our investors and founders. As a former founder turned investor, I’ve been on both sides of the table and I know that for most early-stage founders, whilst capital is important, it’s also about the additional value and support that investors can provide. And my goal is for us to be operationally impactful to founders with access to our deep and extensive networks.

“I am thrilled to have secured the support of British Business Investments in Arāya, their first ever commitment to a Solo GP, underscoring our shared commitment to fostering innovation and driving growth in the technology sector whilst addressing imbalances that exist in the early-stage funding environment.”

Founded in 2022, Arāya invests in pre-Seed and seed startups globally. Their debut Super Angel Fund has a primary investment focus in the U.K. with a 20% global allocation. Arāya’s network of fund investors includes exited entrepreneurs, family offices, and a deep network to support growth across funding, customers and talent. They also run Arāya Ventures Academy for Angels (AVA Angels), an angel investment academy for new angel investors.

As per data provided Arāya, their fund is announced amongst a promising backdrop for UK startups with the UK tech sector boasting 171 unicorns created to date and a market valuation of €1 trillion being reported in 2024. Furthermore, the UK has shown a strong lead in AI startups with 1,800 VC-backed AI startups and 20 AI unicorns already. Arāya has already made investments in 9 companies, over half of which are AI startups.

Most recent investments include Capably, Research Grid and Cold AI.

Founder and Managing Partner Rupa Popat brings over two decades of experience as an exited entrepreneur and investment banker. She also has a successful five-year track record as an angel investor with exit offers in her portfolio last year from both Google Ventures and Unilever Ventures.

One of Arāya’s portfolio founders said, “since investing in October, Arāya has already made valuable introductions to prospective investors and customers and has been advising us on our growth levers and strategy, following our explosive ARR growth last year.”

British Business Investments €6 million commitment was made through its Regional Angels Programme, which helps reduce regional imbalances in access to early-stage equity finance for smaller businesses across the UK, to be invested alongside the fund.

The fund’s investors include fund of funds Saarthi Capital, C-Suite professionals such as former Credit Suisse CEO Phil Cutts and former Browns CEO Holli Rogers, successful entrepreneurs including Rachel Pendered and Dr Raoul-Gabriel Urma, VC investors such as Niraj Pabari of Giano Capital and former COO of Precede Capital Partners Daljit Sandhu and family offices from the UK and the Middle East.

Adam Kelly, Managing Director, British Business Investments said: “We are excited to partner with Rupa and Arāya Ventures. The Super Angel Fund is a great example of leveraging angel expertise in a formal committed structure which works well for investee companies. The Regional Angels Programme plays an important role in reducing imbalances in access to early-stage equity finance for UK smaller businesses. By co-investing alongside Arāya’s Super Angel Fund, we are bringing together finance, business experience and skills to support the development of high-growth smaller businesses across the UK.”

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