TL;DR by CuriousCats.ai
Aum Ventures closes ₹225 crore for deeptech fund
- Aum Ventures has announced the first close of ₹225 crore for its deeptech fund, which targets a total of ₹750 crore.
- The fund will focus on pre-seed and seed-stage companies in spacetech, semiconductors, defence-tech, AI, robotics, energy transition, and advanced manufacturing.
- More than 65% of commitments in the first close came from international limited partners across the US, Middle East, and other markets.
Context on Aum Ventures and deeptech funding
- The fund targets about $80 million (₹750 crore) and expects to invest in 25 to 30 companies, with initial cheques ranging from $750,000 to $2 million and capital reserved for later Series A and Series B rounds.
- Chetan Mehta, founding partner at Aum Ventures, stated that their ambition is to back exceptional Indian entrepreneurs from the earliest stages and help them build global companies.
- India is expanding public support for deeptech, including the ₹1 lakh crore Research, Development and Innovation Fund, Startup India Fund of Funds 2.0 with a ₹10,000 crore corpus, a dedicated Deep Tech Startup category, and Semicon 2.0 with an outlay of ₹1,27,500 crore.
CuriousCats Full Story
Key Insight
“The India Innovation Fund II will back pre-seed and seed-stage companies, with initial cheques of $750,000 to $2 million and reserves for Series A and B rounds. More than 65% of first-close commitments came from international LPs across the US, Middle East, and other markets.”
CuriousCats studied:
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YourStory.com
“Aum Ventures has raised Rs 225 crore in the first close of a new Rs 750 crore fund aimed at backing Indian deeptech startups, adding more private capital to sectors that are also receiving growing policy support.”
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