Fund News
VC firm Finvolve makes first close of growth-stage fund at Rs.90-Cr
Finvolve, the multi-stage venture capital investment arm of India Accelerator , has announced the first close of its growth stage fund at INR 90-Cr. The firm aims to achieve the final close of the fund within six months.The fund aims to build a diversified portfolio of 30-35 growth- and late-stage startups over the next three to four years, focusing on the defence and aerospace, frontier and strategic technology, energy, and consumer sectors. It plans to use the capital to participate in companies that have already moved past the early-risk phase and are entering their next stage of value creation.Founded in 2022, Finvolve is a joint venture between India Accelerator and the Gift City-based wealth management firm Finolutions. Finvolve currently manages four active funds, including two early-stage funds and a Category II AIF for late-stage companies. The firm has previously invested in companies including IG Defence, Indrajaal, Soket AI, Kepler Aerospace, and Matter EV.
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