Navneet Kaushik floats Rs.40-Cr fund to back defence-tech startups

Former director at Technology Development Board (TDB) Navneet Kaushik has rolled out an angel fund to back early-stage tech startups in the defence space. Named ‘The Jamwant Venture Fund ’, it will operate as a Category I Angel Fund AIF. The fund is backed by SKI Capital, a SEBI-registered AIF, RTA & Category 1 merchant bank.The fund aims to identify and nurture initiatives that have the potential to transform the landscape of defence technology in India. It will primarily look into areas such as defence aerospace and deeptech, particularly in product, materials and manufacturing domains. Around 50 angel investors are associated with the fund. With a ticket size ranging between INR 25 lakh and INR 2 crore, the fund looks to back 5-10 startups with an initial corpus of INR 20-40 crore.