Aum Ventures Secures ₹225 Cr Ist Close for ₹750 Cr DeepTech Fund II to Power India’s Next Frontier Startups

• Aum Ventures Announces ₹225 Crore First Close of ₹750 Crore India Innovation Fund II to Back India’s Next DeepTech Startups
• Fund II to back India’s next generation of technology-led startups across SpaceTech, Semiconductors, DefenceTech, Aerospace, AI, Robotics and Advanced Manufacturing

Aum Ventures, an early-stage venture capital firm focused on DeepTech and frontier technologies, has announced the first close of its India Innovation Fund II at ₹225 crore. The fund has a target corpus of ₹750 crore (approximately US$80 million) and will invest in early-stage startups building globally competitive, IP-led technology companies from India.

The first close attracted strong participation from both existing and new investors, with over 65% of commitments coming from international limited partners across the US, the Middle East and other global markets, including leading family offices, entrepreneurs and strategic investors, reflecting growing global confidence in India's DeepTech ecosystem.

The new fund will continue to focus on sectors where India is building long-term strategic capabilities, including SpaceTech, Artificial Intelligence, Semiconductors, Aerospace, DefenceTech, Robotics, Energy Transition, Advanced Manufacturing and other IP-led frontier technologies. It will primarily invest at the pre-seed and seed stages, with initial investments typically ranging from US$750,000 to US$2 million, while reserving significant capital for follow-on investments through Series A and Series B. Over its lifecycle, the fund is expected to invest in 25–30 companies.

Aum Ventures was an early institutional investor in Skyroot Aerospace, which became India's first SpaceTech unicorn and recently had the successful launch of Vikram-1, reinforcing the firm's conviction in India's frontier technology potential.

Strong track record from Fund I

Chetan

Fund II builds on the performance of Aum Ventures' inaugural fund, launched in 2023, which has delivered strong early outcomes within three years.

• Gross MOIC: 2.23x
• Gross IRR: 53%
• Two portfolio companies have recorded valuation increases of over 14x from Aum Ventures’ entry valuation, with two additional companies recording increases of over 10x.
• Early investment in Skyroot Aerospace, now India's first SpaceTech unicorn
• Successful exit from Sharang Shakti, acquired by LAT Aerospace
• Portfolio companies securing follow-on investments from global investors including GIC, Temasek, Accel, and strategic investors including Cyient Semiconductor
• Early investments in five SpaceTech startups before the sector gained mainstream investor attention

Today, Aum Ventures' portfolio spans several high-growth technology companies, including Skyroot Aerospace, Azimuth AI, Cosmoserve Space, Sanyark Space, Sully.ai, Latentai, and others across frontier technology domains.

The firm believes DeepTech businesses should be evaluated not only on technological excellence but also on their ability to compete globally from day one. Accordingly, Aum Ventures combines early-stage capital with a global network spanning India, the United States, Israel and the Middle East, supported by strategic advisors across semiconductors, aerospace, defence, AI and advanced manufacturing.

Comments from Founding Partner

Commenting on the first close, Chetan Mehta, Founding Partner, Aum Ventures, said, "The successful first close of India Innovation Fund II reflects the confidence our investors have placed in our team, our investment philosophy and, most importantly, the founders we back. When we started investing in DeepTech several years ago, sectors such as space and semiconductors were still emerging from India. Today, they are becoming strategic priorities for governments, enterprises and investors around the world.

With Fund II, our ambition is to back exceptional Indian entrepreneurs from the earliest stages and help them build global companies; companies that don’t just solve for India, but solve for the world. We want to play a meaningful role in taking Indian innovation from the laboratory and engineering floor to global markets, and in showcasing the depth of India’s technology and entrepreneurial talent on the world stage.

We believe India is entering a defining decade for innovation. The country has world-class engineering talent, a supportive policy environment and entrepreneurs building technologies that can compete globally. Our ambition is to partner with these founders from the earliest stages and help build enduring technology companies with global impact.”

On the firm’s investment approach, Mehta added: “Fund I reinforced our belief that DeepTech investing is fundamentally about backing exceptional founders with long-term conviction. Building breakthrough technologies takes patience, but the outcomes can be transformational. Through Fund II, we will continue partnering with ambitious entrepreneurs solving complex engineering problems while supporting them with capital, strategic guidance and access to global markets.”

Beyond capital, Aum Ventures supports founders with access to global markets, strategic partnerships, talent and industry expertise across India, the US, Israel and the Middle East, while driving sustainable growth through disciplined, milestone-based investing and active governance.

Aum Ventures India Innovation Fund II — At a Glance

Target corpus	₹750 crore / ~$80M
First close	₹225 crore
International LP participation	65%+
Initial cheque	$750K–$2M
Target portfolio	25–30 companies
Fund I Gross MOIC	2.23x
Fund I Gross IRR	53%

About Aum Ventures

Aum Ventures invests in early-stage startups founded by Indian founders, building breakthrough, innovation-driven, IP-led businesses which have the ability to compete globally. The focus is deeptech and IP-led technologies. Within this broad range, Aum Ventures invests in sectors such as spacetech, semiconductors, advanced manufacturing, defensetech, artificial intelligence, etc., to build a portfolio of market-defining companies.

www.aumvc.com