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Transition VC closes Fund I at Rs 700 Cr

EntrackrEntrackr ยท 2m ago
Transition VC closes Fund I at Rs 700 Cr
Medial

Transition VC has announced the final close of its debut fund at Rs 700 crore (approximately $77 million), overshooting its initial target of Rs 400 crore. The fund is backed by a community of institutional investors, corporates, family offices, strategic partners, and industry leaders. According to Transition VC, this LP network gives the firm a meaningful edge, strengthening thesis development, sharpening its ability to identify emerging trends early, and deepening the quality of deal flow. For founders, this LP network acts as a real commercial accelerator by converting pilots into purchase orders, opening doors to domestic and global markets, and directly shaping adoption pathways. Transition VC plans to invest at the post-product, pre-PMF stage, while strategically constructing a portfolio in which companies are complementary rather than competitive. By doing so, the firm enables founders to share insights, supply chains, and talent across the portfolio. To date, Transition VC claims to have supported 17 startups through Fund I, targeting a final portfolio of up to 25 companies. The firm has backed companies such as CIMware, Comminent, Matel, EMO, Hydgen, Dynolt, and Promethean. It says that more than half of the fund has been committed, and the firm is looking to deploy the remaining capital into founders building high-conviction solutions across the energy transition spectrum. Co-founded by Raiyaan Shingati and Mohammed Shoeb Al, Transition VC is an energy-transition-focused venture capital fund that invests early, catalytic capital into the future of energy in India, backing engineering-led companies building the infrastructure for the transition via electrification, energy storage, industrial decarbonisation, alternate fuels, and next-generation manufacturing.

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Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche

EntrackrEntrackr ยท 6m ago
Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche
Medial

Venture capital firm Kettleborough VC, founded by early-stage investor Nisarg Shah, has launched its second fund with a target corpus of Rs 80 crore and announced a first close at Rs 35 crore. The fund is backed by a mix of family offices and entrepreneurs from India and the US. According to Kettleborough, Fund II will continue to invest in deeply experienced founders at the earliest stages, typically those with over 10 years of domain expertise and a strong execution focus. The firm will write initial cheques of $300,000โ€“$500,000 in about 10 startups, with significant follow-on reserves for high-performing bets. Founded in 2021, Kettleborough VC has built a name as a conviction-led, construct-specific fund. Its Fund I backed 12 startups including Zippmat, InPrime, Finhaat, and Elivaas, nine of which received their first institutional cheque from Kettleborough. These portfolio companies have since raised follow-on rounds from investors like Omnivore, Lightspeed, 3one4, and Bessemer. โ€œWe only back founders for whom the startup is a natural outcome of a decade-long journey in their domain. Fund I has validated this thesis with strong portfolio traction and early PMF. Fund II doubles down on this conviction,โ€ said Shah. Kettleborough added that it focuses on โ€œDhandha-firstโ€ businesses, with interest across financial services, commerce infrastructure, and vertical SaaS/AI platforms. Shah has personally backed over 30 startups, with 10 exits and 80 follow-on rounds, including hits like Foxtale, Onebanc, and Homeville.

Navam Capital closes maiden fund at Rs 315 Cr

EntrackrEntrackr ยท 13d ago
Navam Capital closes maiden fund at Rs 315 Cr
Medial

Navam Capital closes maiden fund at Rs 315 Cr Navam Capital has announced the final close of its maiden fund, Navam Venture Fund-I (NVF-I), with the early-stage Category II AIF raising Rs 250 crore and exercising its green shoe option to close at over Rs 315 crore ($35 million). The venture capital (VC) firm has already invested in eight startups and plans to back 15โ€“16 in total. The India-focused fund will back intellectual-property-led deep-technology startups built in India for global markets, spanning areas such as advanced computing, semiconductors, robotics, drone technology, space technology, industrial automation, enterprise AI, climate tech, and materials science. According to Navam Capital, NVF-I has attracted a diversified limited partner base, including technology founders, industrial groups and conglomerates, business operators, and family offices. Launched in 2008 by Rajeev Mantri, the Kolkata-based Navam Capital focuses on early-stage investments in frontier technologies and science-driven innovation. It is largely backed by domestic capital, with commitments from family offices, corporate groups, ultra-high-net-worth individuals, and technology founders. The fund typically writes first cheques of Rs 5โ€“8 crore at the seed and pre-Series A stages, while keeping capital aside for follow-on rounds. The VC firm also selectively participates in Series A and Series B rounds to maintain stage diversity in its portfolio. The fundโ€™s portfolio includes startups working on reconfigurable computing architectures, swarm robotics, multi-sensor satellite imaging, quantum-safe cybersecurity hardware, AI-driven industrial inspection systems, advanced drones, and novel sensing technologies.

Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr

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Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr
Medial

Artha India Ventures (AIV) has closed its follow-on fund, Artha Select Fund (ASF), at Rs 432 crore, 131% above its Rs 330 crore target. With this, Arthaโ€™s total Assets Under Management have crossed Rs 1,200 crore. ASF will invest in the top 15% of performers from Arthaโ€™s existing portfolio of over 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-launch AVF II. The fund will write Series B and C cheques of around Rs 20 crore each, for 12โ€“14 winners over the next four years. With 33 exits to date, Artha claims to have built a proven track record of identifying and nurturing category leaders. ASF creates a capital bridge from early-stage to growth, addressing Indiaโ€™s โ€œmissing middleโ€ funding gap where many Series Aโ€“C companies stall due to limited capital and a lack of operational support. According to Artha, Indian family offices and ultra-high-net-worth individuals anchor 80% of the fundโ€™s capital, with the remaining 20% from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. Sponsor AIV has committed nearly 10% of the fund. ASFโ€™s roster of backers includes household names such as Atul Kirloskarโ€™s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures. โ€œASF allows us to stay invested in our most promising companies well into their scale-up phases,โ€ said Anirudh A. Damani, Managing Partner of Artha Venture Fund & Artha Select Fund. โ€œIndia has no shortage of promising ventures, but far too many face a capital drought between Series A and C. ASF ensures our winners have the firepower, strategic guidance, and operational backing to compete globally while preserving founder ownership and focus.โ€ Artha, through its various funds, has backed startups such as OYO, Rapido, Purplle and Leverage Edu. Under the new fund, it has so far evaluated six companies and selected only spacetech startup Agnikul Cosmos, with an investment commitment of Rs 20โ€“40 crore.

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