Arāya Ventures has launched the Arāya Super Angel Fund, achieving a first close of €9.8 million, with a goal to secure a total of €22.5 million for investments.

The fund is set to invest in up to 60 pre-seed and seed-stage startups over the next four years, focusing on sectors such as health tech, fintech, climate, commerce, and the future of work.

Operating on a flexible hybrid structure, the fund will accommodate both Enterprise Investment Scheme (EIS) and non-EIS investments, planning to make 10 to 15 investments annually.

Investments will range from €180,000 to €490,000, with a significant emphasis on providing value-add support through a network of investors and advisors.

Notably, 25% of the fund's capital is reserved for repeat founders who have successfully built businesses in the past.

The fund's investor base is diverse, with over 15% being family offices, at least 65% from ethnic minority backgrounds, and 60% comprising current or exited founders.

The fund's community includes more than 80 investors, consisting of current and exited entrepreneurs, angel and VC investors, and financial professionals.

Arāya Ventures emphasizes a community-powered approach, aiming to provide both financial backing and substantial strategic support to its portfolio companies.

Rupa Popat, the Founder and Managing Partner, highlights the importance of delivering value and support to early-stage founders beyond mere financial investment.

With over 40 years of combined experience, Rupa and the Arāya team are committed to supporting portfolio companies in ways that extend beyond just capital.

Previous investments by Rupa include successful companies like Jude, Indē Wild, and Lapse, with over half of the existing portfolio having expanded into the U.S. market.

Founders will also gain access to the Arāya Ventures Academy for Angels, which aims to graduate 250 angel investors by the end of 2024 and 1,000 by the end of 2025.