Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Fmr-defence secretary Ajay Kumar's Mounttech Growth Fund attracts over Rs.250-Cr
Mounttech Growth Fund, promoted by former bureaucrat Ajay Kumar, has exceeded its initial target corpus of INR 250 crore for its first fund, Kavach. It will invoke the green-shoe option for raising another INR 250 crore. The fund will focus on early-stage startups in the defence, aerospace and deeptech sectors.Kavach is sponsored by Suryakant Dalmia, board member of Dalmia Securities, and includes multiple other high-net-worth individuals and domestic family offices as limited partners.Kumar, an alumnus of IIT Kanpur who retired as India’s defence secretary in 2022, is the Chairman of the fund house. Former senior telecom industry executive Ravi Sethia is the CEO. The firm has also onboarded retired armed forces officers as advisors including former Indian Air Force chief RKS Bhadauria and former Indian Navy vice chief SN Ghormade.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.