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Former Defence Secretary Dr Ajay Kumar’s VC fund makes first close
YourStory
·
11m ago
Medial
MountTech Growth Fund (MGF-Kavachh), a venture capital fund founded by former Defence Secretary Dr Ajay Kumar, has achieved its first close after surpassing its targeted corpus size. The fund focuses on supporting IP and technology-driven businesses in the defence, space, and national security sectors with the aim of establishing India as a strategic and technological hub. MGF-Kavachh plans to nurture startups working in innovation, space, aerospace, and deep technology fields to contribute to India's self-reliance and strategic needs. The fund's strategy is based on rigorous selection, portfolio construction, an acceleration platform, and strong execution.
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Ex-defence secretary Ajay Kumar’s VC fund to invest in spacetech firm GalaxEye
Economic Times
·
8m ago
Medial
Venture capital firm Mounttech Growth Fund is participating in a $10 million funding round for spacetech startup GalaxEye. The fund, founded by former defence secretary Ajay Kumar, focuses on space and defence startups. This investment is Mounttech's first since its inception. The funding will be used to accelerate the development of GalaxEye's upcoming satellite, called the "Drishti Mission," which aims to provide high-resolution, all-weather, multi-sensor data. GalaxEye has also partnered with Ideaforge for drone technology development and other industry partners for satellite launches. The Indian space technology sector saw $126 million in funding in 2023.
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Ex-defence secretary Ajay Kumar joins VC play with early-stage fund
Economic Times
·
1y ago
Medial
Ajay Kumar, former defence secretary of India, has launched Mounttech Growth Fund, a venture capital firm focusing on early-stage startups in defence, aerospace, and deeptech sectors. The fund, valued at Rs 250 crore, has received subscriptions worth Rs 280 crore and plans to raise an additional Rs 250 crore. The fund's first scheme, called Kavach, is backed by Suryakant Dalmia and includes retired armed forces officers as advisors. Kumar aims to tap into the opportunities created by the government's iDEX program and forge partnerships with venture capital firms and academic institutions.
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Former defence secretary-floated MountTech Growth hits first close of maiden fund
VCCircle
·
11m ago
Medial
MountTech Growth Fund, founded by former Indian defense secretary Ajay Kumar, has reached the first close of its inaugural fund, named Kavachh (MGF-Kavachh). As a category-II alternative investment fund registered with the Securities and Exchange Board of India, the fund received regulatory approval earlier this year.
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MGF Kavachh Backs Robotics Startup Coratia Technologies
Inc42
·
19d ago
Medial
Underwater robotics startup Coratia Technologies, founded by Debendra Pradhan and Biswajit Swain, has secured $2 million in a Pre-Series A funding round led by MGF Kavachh, a venture capital fund initiated by former defence secretary Ajay Kumar. Incubated at NIT Rourkela, Coratia Technologies focuses on developing autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). MGF Kavachh is a SEBI-registered Category II Alternative Investment Fund based in New Delhi.
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Defence-focused Jamwant Ventures marks first close of early-stage fund
VCCircle
·
1y ago
Medial
Jamwant Ventures, an early-stage investment firm focused on defence startups, has announced the first close of its angel fund. Founded by former Indian Navy officers Navneet Kaushik and Kartik Gopal, the fund aims to invest in startups working on indigenous defence technologies. The firm plans to increase the size of the fund to allow for broader participation and aims to provide not only financial support but also mentorship to the startups it invests in. The fund plans to invest Rs 50 lakh-1 crore across pre-seed, seed, and Series-A rounds.
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CaratLane co-founder Avnish Anand joins Singularity to lead consumer investments
VCCircle
·
6m ago
Medial
Avnish Anand, co-founder of CaratLane, has joined Singularity Ventures as a partner to lead consumer investments. At Singularity, Anand will focus on building and expanding the firm's consumer portfolio. The private equity firm, backed by investor Madhusudan Kela, appointed Anand due to his expertise in consumer-centric branding. Singularity, founded in 2021, aims to raise a total corpus of Rs 1,500 crores. Additionally, former defence secretary Ajay Kumar has joined as a senior advisor for investments in transformative sectors.
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All In Capital unveils second early-stage VC fund, marks first close
VCCircle
·
3m ago
Medial
All In Capital, an early-stage venture capital firm, has launched its second fund, marking its first close nearly three years after finalizing its debut fund. The firm, known for backing startups like PierSight Space, MasterChow, and Wint Wealth, was co-founded by ex-upGrad executive Kushal Bhagia and former Stride Ventures partner. This new fund continues All In Capital's strategy to support promising early-stage ventures.
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Women-focused VC Colossa Ventures hits first close of maiden fund
VCCircle
·
1y ago
Medial
Colossa Ventures, a women entrepreneur-focused venture capital firm, has announced the first close of its maiden fund, the Colossa WomenFirst Fund. The firm raised INR 100 crore ($13.6m) for the investment vehicle, with a target of raising up to INR 500 crore. The fund will primarily focus on investing in sectors such as healthcare, fintech, climate and cleantech, deeptech, and consumer. Colossa Ventures was founded by Vandana Rajadhyaksha and Ashu Suyash, former executives at Aditya Birla Private Equity and Crisil, respectively. The firm received approval from SEBI AIF in March 2020.
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ValuAble hits first close of maiden investment vehicle at 25% of target
VCCircle
·
9m ago
Medial
- ValuAble Partners, a venture debt firm, has achieved the first close of its maiden venture debt fund, raising around $25 million. - The firm plans to raise a total of approximately $101 million for its fund. - ValuAble Partners focuses on investing in companies in the pre-Series A and Series A funding stages, with investments ranging from $2.5-4 million per company. - The fund prioritizes investments in sectors such as healthcare, fintech, agritech, edtech, and greentech. - ValuAble Partners aims to invest in 40-50 businesses that align with ESG principles and UN Sustainability Development Goals. - Ajay Mittal, a former partner at Ascent Capital, was appointed as a general partner and investment manager of ValuAble Partners.
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Makia Capital marks first close of VC fund, strikes maiden investment
VCCircle
·
1m ago
Medial
Makia Capital, a New Delhi-based financial services firm, has achieved the first close of its debut venture capital fund. The fund focuses on pre-IPO and IPO-stage investments in small and medium enterprises along with select public market opportunities. It aims to support businesses in their growth and scaling phases, capitalizing on market opportunities with strategic investments. The first close occurred last month as the firm continues raising capital.
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