Eternal Emerging Enterprises Trust — Prath Ventures | Wisefolio

Eternal Emerging Enterprises Trust

Cat II · Managed by Prath Ventures

First Institutional Investor. Value Creation Partners.

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Eternal Emerging Enterprises Trust (IN/AIF2/22-23/1164) is a SEBI-registered Category II Alternative Investment Fund registered in November 2022 — the debut AIF vehicle of Prath Ventures, an early-stage venture capital firm co-founded in 2022 by Piyush Goenka and Harmanpreet Singh. 'Prath' is a Sanskrit word meaning value creation. Prath focuses on Seed to Series A investments in consumer-centric businesses across FMCG, lifestyle, food, health, education, and enabling technologies (logistics, packaging, marketing tech), with ticket sizes of INR 3–15 crore (USD 500K–2M). The fund raised INR 120 crore in its second close (March 2024), with SIDBI Fund of Funds as a cornerstone LP. Portfolio companies include Jimmy's Cocktails, Assembly (luggage, $2.1M round), Aukera (jewellery, Series B with Peak XV Partners), Nothing Before Coffee ($2.3M pre-Series A), and Littlebox India. The fund is headquartered at 2803, 28th Floor, Tower 5, Crescent Bay, Jerbai Wadia Road, Parel, Mumbai 400012.

Investment philosophy

Prath Ventures blends venture capital agility with private equity discipline. The firm focuses on concentrated portfolio construction — 15–20 companies with deep operational involvement — versus the 40–50 investment spray-and-pray approach. The investment thesis is anchored in India's consumption tailwinds: per capita income crossing USD 2,500, the same inflection point at which China's consumption exploded in 2006. Prath targets category leaders in Indian consumer markets with 95% of capital concentrated in consumer, financial services, and healthcare. The team seeks founders with deep market understanding, a clear brand proposition, and capital efficiency — aiming for 70–80% of portfolio companies to deliver returns, compared to typical VC expectations of 20–30%. The firm aims to be the first institutional investor at Seed or Series A, bringing both capital and genuine strategic/operational value-add.

Team5

Piyush Goenka

Managing Partner

MBA from MDI, Gurgaon; CFA charter holder

Over two decades of experience in private equity at Tano India Advisors. Served on boards of Safari, Arohan, Shilpa Medicare, JHS. MBA from MDI, Gurgaon and CFA charter holder. Champion Poker Player. Proud Father to two kids. Organization Builder. Bias for Action.

Harmanpreet Singh

Managing Partner

MBA from IIM Kozhikode; BE (Thapar University)

Over two decades of experience in private equity and venture capital. Part of the senior team at Multiples PE and ICICI Ventures. Founding member of IIMK Alumni Angel Fund. MBA from IIM Kozhikode. BE (Thapar University). Jack of All Trades. AI Tinkerer. Learning Gen Alpha lingo from his son.

Saptarishi Sen

Vice President

MBA from MDI, Gurgaon; BE from BIT Mesra

Over a decade of experience in private equity and venture capital at Wipro Consumer VC and Tano Capital. MBA from MDI, Gurgaon and BE from BIT Mesra. Helping founders in their journey, always up for discussing Brands, Small cap stocks, Cricket, and Dota.

Ashna Agarwal

Investment Associate

BBA from NMIMS, Mumbai

Over five years of work experience across operating roles at GOAT Brand Labs (D2C rollup) and investing at Jungle Ventures (AUM >$1.5B). BBA from NMIMS, Mumbai. Avid fiction reader, F1 enthusiast, consumer brand geek.

Harsh Chaudhary

Investment Analyst

B.Tech and M.Tech from IIT Delhi

Over three years of work experience across deeptech and healthcare VC and investment advisory at Nomura and W Health Ventures. B.Tech and M.Tech from IIT Delhi. Lifts heavy objects for fun. Composes Melodies. Used up all Claude Tokens at Prath. Worships Andrew Huberman and Jaun Elia.

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF2/22-23/1164

RegisteredNov 2022 (4 years ago)

Valid untilPerpetual

Contact personPiyush Goenka

Address2803, 28th Floor, Tower No. 5, Crescent Bay, Jerbai Wadia Road, Parel, Mumbai 400012, Mumbai, Maharashtra, 400012

Investment manager

Insights

No insights published yet.

Disclaimer

Investments in AIFs carry market and credit risk including possible loss of capital. Past performance does not indicate future returns. Information shown is sourced from the issuer's PPM and SEBI filings — confirm against the latest PPM before committing. Wisefolio is an information platform; it is not registered with SEBI as an investment adviser, portfolio manager, or distributor. By using this page you accept our terms and privacy policy, including the self-attestation that you are eligible to view AIF marketing material under SEBI rules.