Fund News
Deeptech-focused Navam Capital makes first close of maiden fund at Rs.50-Cr
Navam Capital , an early-stage venture capital firm focused on investing in frontier technology startups, has announced the first close of its alternative investment fund (AIF) called Navam Venture Fund I at INR 50 crore. The initial commitments have come in from family offices, corporates and ultra-high net worth individuals.The fund aims to raise a total of INR 250 crore and invest in early-stage frontier tech ventures across aerospace, climate tech, electric mobility, biotech, materials science, agritech, robotics, artificial intelligence, and industrial automation.Navam has roped in former Director-General of Council for Scientific and Industrial Research (CSIR), Raghunath A Mashelkar, as the chairman. Ather Energy founder Tarun Mehta is an advisor to the fund.Navam's current portfolio includes Ather Energy, a startup in the electric vehicle space; Agnikul Cosmos, a spacetech venture; biotech firms Alyssum Therapeutics and Vyome Therapeutics; Aereo, a drone startup and Ornagewood Labs, a robotics venture.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
