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Former banker Dhruv Jhunjhunwalaโ€™s Novastar Partners targets Rs 350 Cr fund

EntrackrEntrackr ยท 1m ago
Former banker Dhruv Jhunjhunwalaโ€™s Novastar Partners targets Rs 350 Cr fund
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Former banker Dhruv Jhunjhunwalaโ€™s Novastar Partners targets Rs 350 Cr fund Novastar Partners aims to provide investors exposure to Indiaโ€™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 Indiaโ€™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 Universityโ€™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 Indiaโ€™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 Indiaโ€™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. โ€œOur 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. โ€œIndia is entering its golden age, driven by macroeconomic growth, domestic consumption and digital adoption,โ€ said Sharma. โ€œThis is a pivotal time for private markets, and we are building a gateway for investors to participate.โ€ Novastar Partners plans to announce its initial fund partnerships in early 2026.

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