Aavishkaar Group targets Rs.2,000-Cr for seventh fund; to focus on deep-tech

Mumbai-based Aavishkaar Group is planning to launch a seventh fund with a targeted corpus of INR 2,000-Cr. It is also looking to invest at least six investments in deep-tech companies by December. These investments will span sectors such as technical textiles, agritech, tissue culture, materials science, and spacetech. The group expects domestic investors to contribute between 40% and 60% of the new fund’s targeted corpus, with overseas investors contributing the rest.The group’s investment portfolio includes the AI startup Gnani.ai, which is currently developing a speech-to-speech model under the government’s IndiaAI Mission. Other investments by the firm include the debt-relief platform Freed, precision metal-processing firm Poshs Metal Industries, and climate-tech startup Newtrace. Aavishkaar has also established partnerships with Jamwant Ventures and Riceberg Ventures to further its focus on defence and deep-tech startups.