Early-stage venture capital firm Aum Ventures has announced the first close of its India Innovation Fund II at Rs 225 crore.
The fund has a target corpus of Rs 750 crore (approximately $80 million) and will invest in
Gyan Vardhan10 Aug 2026
11:50IST
New Update
Early-stage venture capital firm Aum Ventures has announced the first close of its India Innovation Fund II at Rs 225 crore.
The fund has a target corpus of Rs 750 crore (approximately $80 million) and will invest in early-stage startups building IP-led technology companies from India for global markets.
According to the Mumbai-based VC firm, the first close attracted participation from both existing and new investors, with more than 65% of commitments coming from international limited partners across the US, the Middle East and other global markets. The investors include family offices, entrepreneurs and strategic investors.
Aum Ventures said it will support portfolio companies with access to global markets, strategic partnerships, talent and industry expertise across India, the US, Israel and the Middle East.
The new fund will focus on sectors such as space tech, AI, semiconductors, aerospace, defence tech, robotics, energy transition, advanced manufacturing and other IP-led technologies. It will primarily invest at the pre-seed and seed stages, with initial investments typically ranging from $750,000 to $2 million. The fund will also reserve capital for follow-on investments through Series A and Series B rounds. Over its lifecycle, the fund is expected to invest in 25–30 companies.
Aum Ventures was an early institutional investor in Skyroot Aerospace, which became India’s first space tech unicorn and recently completed the launch of its Vikram-1 rocket.
Fund II builds on Aum Ventures’ first fund, launched in 2023. The firm said the fund has recorded a gross MOIC of 2.23x and a gross IRR of 53% so far. It has also exited Sharang Shakti, which was acquired by LAT Aerospace.
Aum Ventures’ portfolio includes Skyroot Aerospace, Azimuth AI, Cosmoserve Space, Sanyark Space, Sully.ai and Latentai, among others, across frontier technology sectors.
Several Indian venture capital firms have recently launched dedicated funds focused on deep tech, reflecting increased investor activity in areas such as AI, defence tech, space tech, semiconductors, robotics and climate technology. Shastra VC launched a $100 million deep tech and AI fund in May 2026, while IIT Madras Research Park and Unicorn India Ventures announced the Rs 600 crore IIT Madras Unicorn Frontier Fund I, with a Rs 400 crore greenshoe option, to invest in 25–30 frontier tech startups.
Piper Serica recentlyraised Rs 300 crorein the first close of its Rs 800 crore Bharat Tech Fund, which targets deep tech companies in AI, robotics, advanced materials and space technology. Kalaari Capital and Blue Ashva Capital have also been exploring dedicated deep tech funds of around Rs 500–600 crore and Rs 300–400 crore, respectively, as investors look to increase exposure to India’s R&D and innovation ecosystem.
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