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.
The India Innovation Fund II will target pre-seed and seed-stage companies in spacetech, semiconductors, defence-tech, AI, robotics, energy transition, and advanced manufacturing.
The Mumbai-based venture capital firm said more than 65% of commitments in the first close came from international limited partners (investors that commit capital to venture funds), across the US, Middle East, and other markets.
The fund is targeting about $80 million (Rs 750 crore) and expects to invest in 25 to 30 companies.
Initial cheques are expected to range from $750,000 to $2 million, with capital reserved for later Series A and Series B rounds.
