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Former banker Dhruv Jhunjhunwala’s Novastar Partners targets Rs 350 Cr fund

EntrackrEntrackr · 5d ago
Former banker Dhruv Jhunjhunwala’s Novastar Partners targets Rs 350 Cr fund
Medial

Former banker Dhruv Jhunjhunwala’s Novastar Partners targets Rs 350 Cr fund Novastar Partners aims to provide investors exposure to India’s private market ecosystem through partnerships with investment managers and curated private opportunities. Former investment banker Dhruv Jhunjhunwala has launched Novastar Partners, an investment firm focused on India’s private markets. While the firm has not disclosed details about its maiden fund, a person familiar with the matter told Entrackr that Novastar is targeting a corpus of Rs 350 crore with a green shoe option of Rs 150 crore. Jhunjhunwala, who previously worked with RBC Capital Markets in New York, is an alumnus of New York University’s Stern School of Business. He has evaluated more than 100 private equity and technology-driven opportunities across sectors such as e-commerce, SaaS, gaming, education, and consumer technology. His earlier investments include Capillary Technologies, R for Rabbit, AdmitKard, and Kratos Studios. Novastar Partners aims to provide investors exposure to India’s private market ecosystem through partnerships with investment managers and curated private opportunities. The firm seeks to create a single-entry platform for global investors participating in India’s growth story. The investment firm will focus primarily on technology and tech-enabled businesses, targeting sectors such as software, IT services, healthtech, fintech, edtech, artificial intelligence, and deeptech. “Our goal is to allocate capital into highly scalable, capital-efficient companies with a strong moat," Jhunjhunwala said. The leadership team also includes Gaurav Sharma, an alumnus of Duke University, who previously worked with Bridgewater Associates and Japan-based APL. “India is entering its golden age, driven by macroeconomic growth, domestic consumption and digital adoption,” said Sharma. “This is a pivotal time for private markets, and we are building a gateway for investors to participate.” Novastar Partners plans to announce its initial fund partnerships in early 2026.

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LC Nueva Investment Partners launches new fund with target corpus of Rs 150 Cr

EntrackrEntrackr · 1y ago
LC Nueva Investment Partners launches new fund with target corpus of Rs 150 Cr
Medial

LC Nueva Investment Partners has launched the LC Nueva Momentum Fund, aiming for a target corpus of Rs 150 crore (approximately $18 million) with an additional greenshoe option of Rs 100 crore (around $12 million). This follows the successful closure of its maiden fund at Rs 350 crore, which has reported that half of its portfolio companies secured further rounds of funding, achieving an impressive nearly 57% compounded annual growth rate (CAGR) in average revenues. The new fund will support 10-15 high-growth startups in Series A and B rounds, focusing on “winners” from its previous fund and secondary market opportunities. LC Nueva Investment Partners, a collaboration between Singapore’s Lighthouse Canton and Delhi NCR-based Nueva Capital, aims to invest in companies that have shown improved operating performance and are considered high-conviction investments. The Momentum Fund’s strategy emphasizes identifying high-potential investments to deliver exceptional returns by leveraging strong relationships from its previous fund and actively pursuing secondary opportunities. In the broader venture capital landscape, early-stage firm Capital A has launched its Fund II with a target of Rs 400 crore, while z21 Ventures recently achieved the first close of its $40 million Fund II at $20 million.

Gladful raises Rs 8 Cr led by Eternal Capital

EntrackrEntrackr · 3m ago
Gladful raises Rs 8 Cr led by Eternal Capital
Medial

Protein-focused kids’ nutrition brand Gladful has raised Rs 8 crore in fresh funding led by Eternal Capital, a fund launched by former BharatPe Chief Operating Officer Dhruv Dhanraj Bahl. The round also saw participation from Antler India, Venture Catalysts, and other investors. The new funding comes after its earlier Rs 7 crore seed round in 2023. Founded by siblings Parul and Manu Sharma in 2022, Gladful focuses on clean-label, protein-rich nutrition, offering products like chilla, dosa, and pancake mixes designed for kids. It recently entered the Rs 12,000 Cr kids’ milk mix category with NutraMilk. The brand’s products are claimed to be made with plant-based ingredients, free from refined sugar and additives, and target a quick 10-minute preparation time. The proceeds will be used to expand its team, boost R&D, and strengthen its presence across tier I and tier II cities through digital and quick-commerce platforms. Gladful plans to reach Rs 60 crore in revenue in the next three years, continuing to scale its breakfast and milk mix categories.

Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund

EntrackrEntrackr · 11m ago
Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund
Medial

Ortella Global Capital (OG Capital) has announced the launch of its Rs 300 crore ($36 million) venture capital fund. The firm positions itself as India’s first and only VC fund dedicated to co-building companies in partnership with founders. OG Capital adopts a co-building model, offering funding and hands-on support to help startups grow and scale into potential unicorns. The fund plans to invest in over 20 companies, up to Rs 15 crore ($2 million) each, and has already backed three promising startups. It aims to deliver a 50% CAGR, targeting 10X returns for its investors. According to the VC firm, it will target early and growth-stage startups across consumer and enterprise solutions. “We are not only targeting 10x returns for our investors but are also co-building companies that prioritize grassroots-level impact, sustainability, and gender diversity,” said Sayan Ghosh, managing partner of OG Capital. Ghosh brings over a decade of experience as an entrepreneur, investment banker, and investor. During his more than three-years tenure at the World Bank, he was instrumental in driving investments and exits for companies like Lenskart, upGrad, 1mg, and BigBasket. According to a press release, Ghosh has a track record of delivering exits worth more than Rs 1,500 crore ($200 million) at a 40% CAGR. In addition, as a limited partner, he has deployed Rs 2,500 crore ($300 million) after evaluating over 350 funds, including venture capital, growth equity, private equity, and venture debt funds across India.

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