Fund News
Novastar Partners to launch Rs.350-Cr fund
Novastar Partners , founded by former Wall Street banker and investor Dhruv Jhunjhunwala, is set to launch Novastar Ventures Fund I, an India-focused fund targeting a corpus of INR 350 crore. The fund has a green shoe option to raise an additional INR 150 crore and has already received commitments from limited partners.Novastar Ventures Fund I plans to invest in 15-20 early-stage technology startups across India. The fund's average ticket size will range from INR 10 crore to INR 25 crore (approximately USD 1.2 million to USD 3 million). The capital is being mainly raised from India, with a small portion coming from the US.
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