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Golden Sparrow Ventures announces first close of $20 Mn Fund II

EntrackrEntrackr · 4h ago
Golden Sparrow Ventures announces first close of $20 Mn Fund II
Medial

Golden Sparrow Ventures, a venture capital fund investing in Indian-origin deep-tech and enterprise AI founders, has announced the first close of its $20 million Fund II. Over half of the fund has been committed, with more than 60% of Fund I’s limited partners re-investing. The fund will target 22 companies at the pre-seed and seed stages, with an average cheque size of $650,000. The portfolio allocation will be roughly split, with 50% focused on deep tech and 50% on enterprise AI. About 12% of the capital is reserved for follow-on investments in breakout companies. The fund is targeting 5x gross returns over a 10-year period. Golden Sparrow said it has already made its inaugural Fund II investment, backing a repeat founder building an enterprise data platform that cleans and structures legacy data for large organizations. The investment was made at the earliest institutional stage in the cross-border corridor. The VC firm added that its inaugural $8 million fund was fully deployed across 18 companies between 2023 and 2025 and has delivered top-decile performance. Portfolio companies include space-tech startup EtherealX, semiconductor startup Morphing Machines, MyoLab, Theranautilus, and GPU virtualization company Hosted AI. Founded in 2023 by Rishaad Currimjee, Golden Sparrow Ventures is a venture capital firm based in India. The firm prefers to invest in companies operating in AI and ML, deep tech and hard science, and SaaS and DevOps, among other sectors.

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Theia Ventures announces first close of maiden fund at $30 Mn

EntrackrEntrackr · 4m ago
Theia Ventures announces first close of maiden fund at $30 Mn
Medial

Theia Ventures announces first close of maiden fund at $30 Mn Venture capital firm Theia Ventures has announced the first close of its maiden fund, securing $30 million (approx Rs 266.2 crore) toward its $30 million target. Theia will focus its Fund I investments on deeptech, energy transition, and decarbonisation, backing startups in areas like green mobility, sustainable materials, battery technologies, clean logistics, and industrial decarbonisation. To date, the firm has already locked in commitments exceeding 50% of the target. It is structured as a Category II Alternative Investment Fund (AIF) under SEBI regulations. Theia’s founders have also brought in British International Investment (BII) as an anchor investor, along with support from other global investors such as Allocator One (Germany), Cisco Foundation (US), and Vitality Capital Partners (Australia). Domestically, family offices and industrial groups including Anand Mahindra, Thermax’s Meher Pudumjee, JM Financial, Vimson Group, and Shivanand Salgaocar Group are backing Theia. The fund plans to make 18–20 early-stage investments, with individual cheque sizes typically between $500,000 to $1 million, and reserve roughly 50% of capital for follow-on rounds. Theia has already deployed capital in Sarla Aviation (aerospace) and Climitra Carbon (industrial biochar). It has also committed investments in startups working on precision fermentation and AI-based energy modeling. The final close is expected by the end of fiscal year 2026 (FY26).

Lavni Ventures announces first close of early stage deep-tech impact fund

EntrackrEntrackr · 5m ago
Lavni Ventures announces first close of early stage deep-tech impact fund
Medial

Lavni Ventures announces first close of early stage deep-tech impact fund Lavni Ventures has launched a Rs 200 crore deep-tech impact fund to back India’s most promising science-led startups, bringing global scale to climate, healthcare, energy, and education breakthroughs. With government-backed policies like the National Deep Tech Startup Policy and the Deep Tech Innovation Platform gaining traction, Lavni Fund II aims to ride this wave of momentum by investing in technology-driven solutions that can profitably tackle some of the world’s toughest problems. Lavni’s portfolio companies, such as Padcare Labs, Monitra Healthcare, and MedPrime Technologies, exemplify the potential of India’s deep-tech ecosystem. Collectively, Fund I startups, till FY25, have contributed to over 3.5 million student learning hours, more than 10,000 healthcare interventions in underserved markets, and 303 metric tons of CO₂ equivalent saved. “The successful launch of Fund II, with strong repeat participation from Fund I LPs, validates our core thesis: Indian deep-tech founders are uniquely positioned to deliver scalable impact and attractive returns,” said Vasu Guruswamy, co-founder and General Partner at Lavni Ventures. According to Lavni Ventures, Fund II will deploy Rs 2 crore to Rs 8 crore per opportunity at the Seed to Series A stage, and Rs 8 crore to Rs 15 crore for follow-on investments. The fund reviews over 800 deep-tech deals annually and applies a selection process focused on sustainable business models, measurable impact, and exit potential. Lavni Ventures, established in 2020 and led by Vasu Guruswamy, Sanjay Kanvinde, and Krishna Shivram, is a SEBI-registered Category II Alternative Investment Fund. It specializes in deep-tech impact investing, funding early-stage startups across medtech, edtech, cleantech, and agritech sectors.

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