IAN Angel Fund Deploys Over ₹115 Crore in FY26, Strengthening India's Early-Stage Innovation Economy

• Milestone reflects growing conviction in deeptech, spacetech, biotech, and IP-led startups, reinforcing the critical role of angel capital in India's innovation journey

In a significant milestone for India's early-stage investment ecosystem, IAN Angel Fund, the evergreen fund of IAN Group, has deployed over ₹115 crore during FY26, reinforcing its commitment to backing founders at the stage where capital is often the hardest to secure but arguably the most consequential.

At a time when India's startup ecosystem is increasingly shifting its focus towards deep technology, R&D-led innovation, and strategic sectors, the Fund's investment activity highlights the growing importance of early conviction capital, the first institutional backing that enables founders to transform breakthrough ideas into scalable businesses, well before revenue acceleration or large venture capital rounds.

The ₹115 crore deployment reflects continued investor confidence in the high-quality, rigorously evaluated investment opportunities presented through the IAN Angel Fund platform. Investments during the year spanned eight high-potential sectors, including deeptech, life sciences and healthtech, climate and sustainability, cybersecurity, logistics, edtech, food & beverage, and consumer technology.

Importantly, 75% of the deployed capital was invested in new portfolio companies, while 25% was allocated towards follow-on investments in existing portfolio companies. The follow-on participation underscores not only the quality of founders and their execution capabilities but also the long-term value created through IAN's active mentoring, strategic guidance, and extensive investor network.

The Fund's portfolio reflects the changing nature of India's entrepreneurial landscape. Rather than focusing solely on fast-scaling digital businesses, they continue to back companies building foundational technologies, industrial capabilities, and intellectual property across sectors that are increasingly aligned with India's long-term strategic priorities.

Among the startups funded by the IAN Angel Fund are Rymo Technologies, The Sweet Change, PlaySuper, Biodimension, InterCosmos, Peping, LearnTube, Trishul Space, Fery Rides, Lamark Biotech, Innovodigm, Peptris, Endure Air, SecurWeave, Contrails AI, Chargeup, Famyo, Artment, and Harajuku, representing sectors ranging from spacetech and biotechnology to climate innovation, cybersecurity, and next-generation consumer brands.

These investments underscore the company’s growing focus on companies developing breakthrough technologies in sectors where commercialisation cycles are longer, technology risk is higher, and conventional venture funding typically enters much later.

The milestone also reflects the broader evolution of India's startup financing landscape. As sectors such as deeptech, spacetech, semiconductor technologies, health innovation, and advanced manufacturing receive increasing policy support and market attention, the role of angel investors is becoming even more significant. By providing founders with early conviction capital, strategic mentorship, and market access, angel investors enable companies to validate technologies, build products, and prepare for larger institutional funding.

IAN believes that India's innovation ambitions will increasingly depend on strengthening this earliest layer of capital formation. The Fund's FY26 deployment is therefore more than a portfolio milestone; it is a reflection of how angel investing in India is becoming more thematic, technology-led, and aligned with the country's long-term innovation and strategic priorities.

About IAN Angel Fund

IAN Angel Fund, the evergreen fund of IAN Group, is a SEBI-registered Category I AIF and part of India's leading early-stage investment platform, which pioneered angel investing in the country. Today, IAN invests through its Angel Fund and venture capital funds, backed by a network of approximately 500 investors, including iconic entrepreneurs and industry leaders from India and overseas. The platform enables founders to raise capital from ₹50 lakh to ₹50 crore as they scale, while offering investors a diversified early-stage portfolio across both emerging and growth-stage startups.

About IAN Group

IAN Group is India's largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds, including the US$100 million IAN Alpha Fund. IAN supports entrepreneurs with capital, mentoring by experienced founders, and access to global markets. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

ConsumerX Ventures Unveils ₹150 Crore Early-Stage Fund Backing India’s Next-Gen Consumer Brands

India’s leading community for D2C operators, founders, and startup leaders, announced the launch of ConsumerX Ventures, India’s first operator-led, early-stage fund focused exclusively on new-age and digitally native consumer brands. With a target corpus of ₹150 crore, ConsumerX Ventures has been created to support startup founders at the most formative stages of their journey, where access to structured institutional support remains limited.

Built on the foundation of D2C Insider’s extensive operator ecosystem, ConsumerX Ventures brings together capital, deep operating insight, and community-led support under a single institutional platform. The fund will focus on pre-seed and seed-stage consumer brands, backing founders early as they build product-market fit, brand differentiation, and scalable business models in a rapidly evolving consumption landscape shaped by Gen Z and Bharat consumers.

The launch of ConsumerX Ventures was announced at the D2C Insider Super Angels Annual Day in New Delhi, a gathering that witnessed participation from over 120+ founders, operators, and ecosystem leaders across India’s consumer and startup ecosystem. The event brought together leaders from brands such as Paytm, Xiaomi, Sirona Hygiene, Nykaa, Pee Safe, InsuranceDekho, Rage Coffee, Droom, ShopClues, Bacca Bucci, among others.

Mr. Abhishek Shah, Managing Partner, ConsumerX Ventures, said, "ConsumerX Ventures has been built to address a clear gap in the ecosystem, the lack of dedicated and institutional support for founders of consumer startups at the earliest stages. As part of the community, we understand the challenges of building in the zero to one phase. By launching ConsumerX Ventures, we are extending the D2C Insider community’s decade-long work with business leaders into a long term and structured platform designed to back the most promising consumer brands from day one."

Ms. Chhavi Bhardwaj, General Partner, ConsumerX Ventures, added, "India’s consumption story is being reshaped by Gen Z, Bharat, and digitally native behaviours. ConsumerX Ventures is focused on identifying and supporting founders who are building for these shifts. Our approach combines capital with deep operator insight and ecosystem access, enabling early conviction, closer founder alignment, and hands-on ecosystem support from day one to founders to build resilient, category-defining brands in a highly competitive market."

ConsumerX Ventures is anchored in an operator led investment approach, built by seasoned consumer operators who have scaled brands, invested in emerging companies, and worked closely with new age founders over the past decade. The fund will build a focused and concentrated portfolio of 20 to 25 early-stage consumer companies across categories, with an emphasis on strong founder market fit, differentiated positioning, and scalable growth potential. ConsumerX Ventures aims to maintain continued participation through Series A and reserve follow on capital for high performing portfolio companies.

ConsumerX Ventures draws from the strength of D2C Insider, one of India’s leading D2C operator ecosystems, with an engaged network of over 30,000 founders, operators, investors, and ecosystem partners. This network strengthens ConsumerX Ventures’ sourcing capabilities, diligence depth, and long-term founder support.

Antariksh Venture Capital Fund to Fuel India’s Spacetech Startups from FY2027

India’s ₹1,005 crore Antariksh Venture Capital Fund, managed by SIDBI Venture Capital Limited, has completed its institutional setup and is expected to begin investing in spacetech startups from the first quarter of FY2027. The initiative aims to strengthen private sector participation and position India as a global space economy leader.

Union Minister Dr. Jitendra Singh said that India’s dedicated venture capital fund for the space sector is progressing steadily, with investment in selected startups expected to begin from the first quarter of FY2027.

Key Highlights of the Antariksh Venture Capital Fund

• Fund Corpus: ₹1,005 crore committed corpus.
• Manager: SIDBI Venture Capital Limited (SVCL).
• Regulatory Milestones: SEBI registration on October 31, 2025; Initial closing on November 10, 2025.
• Operational Setup: Appointment of custodian, registration with depositories, and constitution of Screening & Investment Committees completed.
• Startup Pipeline: Four spacetech proposals have advanced after Pre-Investment Committee approval.
• First Investments: Expected in early FY2027, following due diligence and documentation.

Strategic Objectives

• Boost Private Sector Participation: Encourage startups to contribute to India’s growing space ecosystem.
• Innovation Support: Provide structured guidance and “handholding” to help startups align with institutional investment processes.
• Global Competitiveness: Strengthen India’s position in the global space economy by fostering innovation and commercialization.

Why This Matters

India’s space sector has traditionally been dominated by ISRO, but recent reforms have opened the door for private players. The Antariksh Fund represents a systematic financial mechanism to nurture startups in areas such as:

• Satellite manufacturing and launch services
• Space-based communication and navigation systems
• Earth observation and data analytics
• Emerging technologies like reusable rockets and deep-space exploration

By FY2027, India could see its first wave of venture-backed spacetech startups, potentially creating new employment opportunities and attracting global partnerships.

Challenges Ahead

• Nascent Ecosystem: Many startups lack robust documentation and compliance readiness.
• Due Diligence Requirements: Institutional investors demand structured data and financial transparency.
• Global Competition: India must balance innovation with affordability to compete with established players in the US, Europe, and China.

Outlook

The Antariksh Venture Capital Fund is more than just a financing vehicle—it’s a policy-driven catalyst for India’s spacetech future. With investments slated to begin in FY2027, the fund could accelerate India’s transition from a government-led space program to a dynamic, private-sector-driven ecosystem, unlocking opportunities in both domestic and international markets.

Equirus InnovateX Fund Announces Final Close of Debut Enterprise Tech Fund at ₹166 Crore

Equirus InnovateX Fund (EIF), the early-stage venture arm of Equirus Group, today announced the final close of its maiden B2B tech fund at ₹166 crore. The fund’s first close was announced in February 2024.

EIF backs seed and pre-series A companies building in Deep Tech, SaaS and Fintech - typically teams that are post-product and working toward product-market fit. The fund aims to partner with founders solving hard problems with clear distribution and defensibility, and who are building for long-term sustainability from day one.

The close attracted both domestic and global investors who bring operational experience and market access in addition to capital. True to its ethos - “by entrepreneurs, for entrepreneurs” - EIF counts a number of founders and operators among its backers, including Girish Gaitonde (Founder & Board Member, Xoriant), M.R. Jyothy (Chairperson & MD, Jyothy Labs), Dhimant Bhayani (Founder & CEO, iRevo), Raj P. (Founder & Executive Chairman, Zaggle), Shankar Vailaya (Former Director & Co-Founder, Sharekhan) and Nitin Seth (Vice Chairman, GD Foods).

The Fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal, experienced founders and investors with strong operational backgrounds, and responsible for driving investments and managing the portfolio across the fund’s focus areas.

Sunder Nookala, Partner, Equirus InnovateX Fund, added: “At the seed and pre-series A stage, capital alone is not the differentiator - context and conviction are. Having built and backed companies ourselves, we understand the inflection points founders face around product-market fit, enterprise access and organisational build-out. With Fund I fully closed, our commitment is to work closely with portfolio companies to help them scale responsibly, strengthen fundamentals and build institutions that stand the test of time.”

EIF has deployed over one-third of the corpus, backing seven startups from Fund I, with a target portfolio of up to 15 companies. Active investments include Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall. The remaining capital is expected to be deployed over the next 12-18 months.

Krishna Jha, Partner, Equirus InnovateX Fund, said: "As India's startup ecosystem matures, we are seeing a new generation of audacious founders solving structurally complex problems. As a firm of ex-operators, our focus is on partnering with these founders as they walk the long road from early idea to enduring, category-defining company."

Beyond capital, EIF partners with founders on enterprise access, regulatory navigation, senior hiring, and capital-raising preparedness. The fund emphasises strong governance and long-term value creation rather than short-term value maximisation.

With the maiden fund now fully closed, EIF will focus on scaling its existing portfolio, selectively adding new companies, and deepening relationships with founders and long-term capital partners as it lays the groundwork for its next fund.

Notable angel investments of partners – Ajay Garg, Krishna Jha and Sunder Nookala – include Druva, Kwench, Adpushup, Sirona, Wow Momo, Credgenics, and GoComet.

About Equirus InnovateX Fund

A ₹166Cr SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund backs founders building in SaaS and DeepTech and Fintech, typically at post-product, pre-PMF stage. The Fund has invested in high-impact businesses across sectors, including: Pointo (Energy Efficiency: Battery Lifecycle Management), Datazip (Composable Lakehouse platform), GreenStitch (Fashion & Retail Focused ESG SaaS), CtrlB (Observability SaaS), Consuma (AI for Market/Consumer Insights) and RSPL (Semiconductor) and Neverinstall (Virtual Desktop Infra).

Founders Backing Founders: True to our ethos - “A fund for founders, by founders, and of founders,” Equirus InnovateX Fund is built with a deep understanding of what it takes to build at the earliest stages. We are on a mission to back bold ideas, brilliant minds, and transformative tech - supporting passionate founders who are building the future.

Website: https://www.equiruswealth.com/eif

About Equirus Group

Equirus Group is a leading full-service financial services firm specializing in investment banking, institutional securities, wealth and asset management, HNI broking, NBFC, and insurance solutions. With a “client always first” approach and a proven track record of delivering value creation, Equirus has built impeccable credentials across domains and sectors. Equirus has completed more than 330+ transactions across M&A, PE, IPOs, QIPs, Rights Issues, and Structured Finance, raising USD 15 billion in the process across sectors over the last 18 years, and has created a differentiation for itself through its ability to structure and deliver transactions in line with the client’s requirements.

Website: https://www.equirus.com/

IAN Group Announces Final Close of its Second VC Fund IAN Alpha Fund with US$100 Mn

IAN Group, the country’s single largest early-stage investment platform, has announced the final close of its 2nd VC Fund - IAN Alpha Fund with US$100 million. The Fund will invest in early-stage companies / MSMEs with strong founders, solving real problems, leveraging technology and innovation, including those aligned to India’s national strategic imperatives. While deep tech remains at the heart of its investment thesis, the IAN Alpha Fund follows a carefully structured risk-mitigation strategy, balancing innovation led long-gestation ventures with shorter-cycle businesses. This approach ensures a high return proposition for investors while enabling the fund to continue supporting frontier technologies that require patient capital and domain expertise.

Since its launch, the Fund has already invested in 10–12 pioneering startups, many of them led by first-generation founders based across India, including Tier II and Tier III cities. These startups are leveraging breakthrough technologies such as AI, space tech, semiconductors, biotech, and are increasingly developing indigenous solutions in healthcare, climate, manufacturing, cybersecurity, environment etc. that align closely with India’s developmental goals.

The investors of the Fund have signalled strong confidence in IAN’s capability and proven track record in identifying and scaling high-potential ventures. The IAN Group is delighted to have an exceptional set of marquee investors, including government investors such as the DPIIT - Fund of Funds for Startups managed by SIDBI, Self Reliant India Fund, ACE Fund, Odisha Startup Growth Fund, and Agri Sure Fund of Funds Scheme managed by Nabventures Ltd., as well as institutional investors including Buimerc Corporation Ltd., Dubai, HDFC Life, DS Group Family Office, National Bank for Agriculture and Rural Development, alongside select family offices and individual investors. Notably, a significant portion of the corpus has been contributed by returning investors, reflecting deep trust and continued conviction in the Group’s vision and performance.

This Fund endorses IAN’s two-decade track record of investing in and growing companies. Its portfolio of 250+ companies today stand at a market valuation of almost $10 billion, in sectors such as space tech, biotech, defence tech, AI/ML, SaaS, robotics, fintech, health tech, manufacturing tech, consumer tech, etc.

Mentorship and strategic guidance, the IAN Group’s hallmark, remain central to the Fund’s philosophy. The company’s founder-first philosophy, extensive industry knowledge, and structured mentorship framework have all been crucial in helping firms grow from concept to scale over the years. By giving entrepreneurs access to top-notch strategic advice, governance support, and market insights, the IAN Alpha Fund carries on this legacy by assisting founders in overcoming difficult obstacles, accelerating innovation, and creating long-lasting, rapidly expanding businesses. The Fund guarantees focused execution and ongoing wealth development across its portfolio, supported by an accomplished leadership and investment team.

Saurabh Srivastava, Co-founder, IAN Group, said, “India's biggest opportunity is to transform its problems into innovation-driven businesses. While the founder is at the centre of IAN Alpha Fund’s thesis, it is critical that technology is leveraged to scale the solution for a large market, both in India and then globally. This fund aims to breed companies that bring a paradigm shift to industry and become global leaders.”

Padmaja Ruparel, Co-founder, IAN Group, said, “The IAN Alpha Fund’s thesis is to invest and breed innovation solving real problems or building for India’s strategic imperatives. The role that the Fund plays is way beyond funding, to bring mentoring, market access, and governance frameworks for these early companies. The Fund focuses on technology innovation by Indians, from India, for India & the globe.”

Chintan Thakkar, Group CEO, IAN Group, said, “IAN’s unique strength is an early-stage investment platform that enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores with handholding from domain and industry experts. The IAN Group continues to focus on improving lives, promoting inclusivity, and establish India as a leader worldwide.”

By combining patient capital, mentorship, and strategic partnerships, the IAN Alpha Fund is catalyzing the next generation of founders who are building solutions. Its continued growth marks a defining moment in India’s journey toward becoming a global innovation hub — where every rupee invested helps solve real problems, create jobs, and build national capability.

About IAN Group:

IAN Group is India’s largest horizontal platform for seed and early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds. It enables entrepreneurs to raise anywhere from Rs. 50 lakhs to Rs. 50 crores, supported by capital, high-quality mentoring from successful founders, and access to global markets. Sector-agnostic in its approach, IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Nexus Venture Partners Closes $700M Fund VIII to Back AI and Early-Stage Innovators in India & US

Nexus Venture Partners (“Nexus”), a leading venture capital firm investing in transformational startups across India and the United States, today announced the closing of Nexus Ventures VIII, a $700 million fund to back exceptional founders building AI, enterprise software, consumer and fintech startups at inception, seed, and Series A stages in India and the US. Nexus VIII has the support of world-class limited partners, the majority of whom have been with the firm since the early days.

Founded by entrepreneurs and engineers with deep technical and operating experience, Nexus has established itself over the last two decades as the trusted go-to partner for early-stage founders. Nexus has extensive hands-on experience in helping scale companies from inception to IPO. Over the years, the firm has invested in more than 130 companies and achieved over 30 exits, including several IPOs. They have a strong track record of investing in AI stack innovators, developer platforms, open-source infrastructure, AI agents, consumer, and fintech companies.

From new-age, fast-growing AI startups like Avoca, Giga, TensorWave, Firecrawl, and Gumloop, or established leaders like Postman, Apollo, Fingerprint, MinIO, Zepto, Turtlemint, Delhivery, India Shelter and Rapido, Nexus has consistently backed a roster of exceptional founders who are challenging the status quo and reimagining how things are done. Along with seminal enterprise AI startups in the US, Nexus is also investing in generational consumer, fintech, and AI companies in India, one of the world’s fastest-growing economies, with accelerating digital consumption powered by advanced payments infrastructure, mobile adoption, and ubiquitous broadband.

“The last few years have been surreal for the technology world with trailblazing breakthroughs in generative AI and an unprecedented pace of AI adoption across consumers and businesses alike”, quoted Nexus partners. “From infrastructure to applications, every layer of the tech stack is getting rewritten by AI. Agentic AI is transforming how work gets done, bringing a whole new wave of augmentation and automation across industries.”

They added, “Over the years, we have had the pleasure of backing several founders from the early days of their journeys, who have gone on to take their companies public or are poised to do so soon. With Fund VIII, we’re doubling down on visionary entrepreneurs solving the hardest problems and shaping the next wave of global innovation”.

Nexus’s integrated approach, with depth of experience and relationships across the Bay Area and India, enables it to focus on the two largest startup ecosystems in the world: the US and India.

The firm remains uniquely positioned to help build path breaking companies in both the geographies.

About Nexus Venture Partners

Nexus is an early-stage venture capital firm partnering with the most ambitious founders building product-first companies. Founded in 2006, Nexus manages $3.2 billion in capital across funds and operates as an integrated team across the US and India. Nexus portfolio includes Postman, Apollo.io, Zepto, MinIO, Fingerprint, Avoca, Firecrawl, Orkes, Gumloop, Neysa, Giga, Tensorwave, Druva, Observe.ai, Daloopa, Pubmatic, PromptQL, Delhivery, Turtlemint, India Shelter, Rapido, Infra.Market, Ultrahuman, and more.

IIT Madras to Launch ₹200 Crore VC Fund to Back Deeptech Startups

IIT Madras has announced the launch of a ₹200 crore (~$24 million) venture capital fund to support early-stage deeptech startups, particularly those incubated within its innovation ecosystem.

The fund, titled the IITM Alumni Fund, was formally introduced during the Sangam 2025 alumni summit in Bengaluru.

The fund aligns with the institute’s Startup Shatam mission to incubate 100 deeptech startups annually. 

• Fund Focus: Pre-Series A and Series A investments in deeptech ventures
• Backers: Primarily funded by IITM alumni and high-net-worth individuals
• Structure: Operates as a separate legal entity with standard VC governance
• Vision: Supports the institute’s ‘Startup Shatam’ mission to incubate 100 deeptech startups annually
• Track Record: IITM has already incubated 500+ startups with a combined valuation of over ₹50,000 crore and created 11,000+ jobs
• Notable Successes: Includes unicorns like Ather Energy and Uniphore

Prof. Ashwin Mahalingam, Dean (Alumni and Corporate Relations), IIT Madras, said —

“This fund will help accelerate our vision of ‘Startup Shatam’... A focused Series A-level VC fund, where the investors are our own alumni and well-wishers, is exactly what is going to get us there.”

Early Stage VC Firm A2D Ventures Enters India via Cross-Border Partnership with We Founder Circle

A2D Ventures, a trailblazing venture capital firm and startup investing platform shaping Southeast Asia’s early-stage investment landscape, has entered India through a strategic partnership with We Founder Circle (WFC), one of India’s largest and most active angel investment syndicates. This collaboration marks a major milestone in fostering cross-border innovation, unlocking new opportunities for Indian and Southeast Asian founders and investors alike.

As digital-first investment platforms, both A2D Ventures and We Founder Circle share a deep commitment to empowering aspiring entrepreneurs globally. A2D Ventures has been at the forefront of Southeast Asia’s startup scene, backing high-growth startups and building a strong network of investors. WFC has invested in over 150 startups with 50 Winners and 24 exits, including fast-growing ventures such as Zypp Electric, Hesa, Garuda Aerospace, and Kazam, contributing to a collective portfolio valuation exceeding $1 billion. Together, they are poised to reshape cross-border capital flows and mentorship for early-stage founders.

“This partnership exemplifies our commitment to democratizing venture capital and expanding access to high-growth opportunities across Southeast Asia. By collaborating with WFC, we aim to empower visionary founders and investors across borders, fostering innovation and economic growth in both regions.” – Ankit Upadhyay, Co-Founder & General Partner of A2D Ventures.

The partnership will be powered by a tech-enabled approach to investing—combining Invstt, a digital platform offered by We Founder Circle for dashboard-driven automated investing, and A2D Ventures’ proprietary systems—to create a seamless cross-border experience for global investors. From deal access and due diligence to portfolio management, this digital synergy will unlock new levels of efficiency, transparency, and investor engagement across both regions.

“This partnership is more than just an expansion—it’s about creating a seamless bridge between two of the most dynamic startup ecosystems in the world. Southeast Asian founders are looking beyond their borders for scale, and India offers immense synergies. Likewise, Indian investors now have a structured gateway to tap into the high-growth potential of Southeast Asian startups.” – Neeraj Tyagi, Co-Founder & CEO of We Founder Circle.

The first wave of cross-border deals already showcases the diversity and ambition of this partnership. These include:

• A biotech startup producing a lactose-free milk alternative that tastes like traditional milk
• An autonomous food kiosk venture similar to Flying Turtle (Tao Bin) for beverages
• A fintech open finance platform, following the playbook as CRED in India, but tailored for Southeast Asia
• A rising F&B coffee brand rapidly expanding across the Philippines

And more high-potential startups across AI, SpaceTech, HealthTech, and ClimateTech sectors

This announcement comes at a pivotal moment, following a strategic MoU signed by Shri Narendra Modi, Hon’ble Prime Minister of India, and Paetongtarn Shinawatra, Hon’ble Prime Minister of Thailand, at the BISMEC Summit held in Bangkok from April 3–5, 2025. The MoU emphasizes enhanced startup collaboration between the two countries, especially in sectors such as Fintech, HealthTech, ClimateTech, and Digital Infrastructure.

A2D Ventures

A2D Ventures is Southeast Asia’s prominent early-stage venture capital firm, angel syndicate, and angel investing platform with a mission to democratize venture capital. Their platform enables global investors to back innovative and impactful companies across various sectors, with a focus on supporting entrepreneurs who are building the future of Southeast Asia.

Bessemer Venture Partners Raises $350 Mn India Fund to Back Next-Generation of Startups

• Second dedicated India fund builds on Bessemer’s nearly two-decade-long presence in the country and reinforces its commitment to supporting technology and innovation-driven businesses
• The fund will focus on early-stage startups and support them through subsequent growth stages
• Bessemer will focus on investments across AI, SaaS, fintech, digital health, consumer, and cybersecurity.

Bessemer Venture Partners today announced the close of $350 million in capital for its second dedicated India fund, reinforcing the firm’s long-standing commitment to backing founders in the region as they build enduring companies.

The new fund will enhance the firm’s focus on early-stage investments, across AI-enabled services and SaaS, fintech, digital health, direct-to-consumer brands, and cybersecurity. Bessemer has a long-standing history of partnering with companies early and supporting them through their growth. More than 80 percent of its investments in India over the last five years have been in early-stage companies.

Speaking on the fund raise, Vishal Gupta, Partner and Managing Director of the firm’s Bangalore office said, “This fund deepens our commitment to India’s startup ecosystem as we continue backing the next generation of entrepreneurs building technology-led businesses. We remain focused on identifying and investing in founders who are driving innovation, solving complex challenges, and building market-defining companies. Beyond providing capital, we bring deep sector expertise, a global network, and hands-on support to help founders navigate their growth journeys and scale sustainably.”

Bessemer Partner Anant Vidur Puri added, "India is at the forefront of the AI-driven transformation, with founders building domestic as well as globally-competitive businesses across enterprise software, fintech, and consumer technology. As AI adoption accelerates, we see immense opportunities for innovation, and this fund allows us to back entrepreneurs shaping the next phase of India’s digital economy."

Bessemer first established its India presence nearly two decades ago in 2006 and has since invested in more than 80 startups in the country. The partnership’s strategy centres around being patient, long-term partners to visionary founders from the early stages. The firm has a history of taking a roadmap-driven investment approach that enables its investors to build conviction in emerging areas across industries before they become obvious, and better help founders navigate evolving industry landscapes. This approach has led Bessemer to invest early in shifts in the market like the onset of the mobile revolution, India’s digital infrastructure, and its healthcare revolution, resulting in investments such as Urban Company, Perfios, and Medi Assist.

The firm’s first dedicated India fund backed notable startups including Boldfit, MoveInSync, Pepper Content, Shopdeck, Vetic, and Zopper, while its broader portfolio includes category leaders like BigBasket, Livspace, Perfios, Swiggy, and Urban Company. The firm has also seen nine IPOs within its India portfolio.

With investment teams positioned across five countries, Bessemer is a globally integrated platform that is committed to supporting innovative startups and fostering the next generation of industry leaders.

About Bessemer Venture Partners

Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included ServiceTitan, Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).

Wipro Commits $200 Million in Fresh Investment to Wipro Ventures

Wipro Limited, (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced that it will be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups.

“Wipro Ventures is strategically positioned to participate in and contribute to technological innovation across startup hubs globally,” said Srini Pallia, Chief Executive Officer & Managing Director, Wipro Limited. “This latest investment reaffirms our commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. We envision a collaborative ecosystem where these emerging technologies can be deployed globally, drive progress, and create sustainable value for all stakeholders involved.”

Wipro Ventures was founded in 2015 to identify and invest in high-potential early-stage startups that are at the forefront of technological innovation and that allow Wipro to deliver differentiated value to clients. The Wipro Ventures team connects Wipro and its clients to a global ecosystem of startups working on disruptive technologies, enabling Wipro’s clients to access latest innovations, while providing startups with access to a global network of enterprise customers.

Jay Leek, Co-Founder & General Partner, SYN Ventures, said, “We are delighted to have worked with Wipro Ventures as co-investors over the years. They are well positioned to capitalize on emerging trends in the industry. We strongly believe that the value-add that Wipro brings will enable startups to maintain their competitive edge and enjoy long-term success.”

In its 10 years of operation, Wipro Ventures has invested in 37 startups in areas such as artificial intelligence, data & analytics, cybersecurity, and cloud infrastructure, deployed solutions across 250+ Wipro customers globally and had 12 successful exits.

In addition to making direct equity investments, Wipro Ventures has also invested in several early-stage, enterprise-focused and cybersecurity-themed venture funds in India, the US, and Israel.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

About Wipro Ventures

Wipro Ventures is the strategic investment arm of Wipro Ltd. (NYSE: WIT) and focuses on investing in early-to mid-stage startups. The venture arm leverages Wipro’s global reach and market knowledge to accelerate the growth of its portfolio companies. Wipro’s broad customer base of Global 1000 clients provides a comprehensive understanding of customer needs and market trends, which in turn provides valuable guidance to portfolio companies. For more information, please visit https://www.wipro.com/ventures/.

Infosys Invests €5 Mn for a Minority Stake in German VC Fund UVC Partners

Infosys has partnered with UVC Partners, a German-based venture capital fund, committing to invest €5 million (approx USD $5.42 million). The investment will be made over an approximately 5-year period as and when the capital is called.

UVC Partners focuses on early-stage investments in European B2B tech startups, including areas like AI, Software, Deep Tech, Space Tech, Semiconductors, Quantum, Robotics, Decarbonization, Nuclear Fusion, Hydrogen, and Mobility.

In an exchange filing, Infosys said, "The Infosys Innovation Fund aims to partner with UVC's ecosystem and startups to complement its capabilities and co-create next-generation solutions."

By partnering with UVC, Infosys gains access to early-stage European B2B tech startups. This strategic positioning allows Infosys to explore innovative technologies and solutions that align with its business goals. Investing in startups diversifies Infosys's portfolio beyond its core services. It provides exposure to emerging sectors like AI, Software, Quantum, Robotics, and Decarbonization.

Infosys said Germany is a strategic market for the company, and UVC is a leading early-stage venture capital firm investing in disruptive startups within the German and European ecosystems. "AI and Deep Tech are rapidly evolving and are crucial to Infosys' strategy, with increased usage across its clients for creating intelligent products, experiences, and business transformations," the IT company said in a press release.

Infosys has bought a minority holding in UVC, not exceeding 20 per cent of the fund size, in the all-cash deal.

UVC Partners is a Munich- and Berlin-based venture capital firm that invests in European B2B startups. The VC firm support founders who are radical, humble, genius, irreverent, bold, caring, visionaries, scientists, makers, truth-seekers, builders, inventors, and hackers. Its initial investments range from €500,000 to €10 million, and they're committed for the long haul, fostering growth and innovation. The UVC team includes rocket scientists, CS geeks, electrical engineers, AI researchers, mechanical engineers, materials scientists, and economists.

Infosys, in April, acquired in-tech, a leading Engineering R&D services provider focused on the German automotive industry. This strategic move enhances Infosys's engineering capabilities, particularly in areas like e-mobility, connected and autonomous driving, and electric vehicles. Through this acquisition, Infosys strengthens its engagements with leading German original equipment manufacturers (OEMs). The multidisciplinary team at in-tech, spread across Germany, Austria, China, the UK, and other locations, brings extensive industry expertise.

Former Defence Secretary Raises Rs 250 Crore VC Fund

Ajay Kumar, a former bureaucrat who retired as India's defense secretary in 2022, has ventured into the world of venture capital. He is now the chairman of Mounttech Growth Fund, a venture capital firm that has already raised over ₹250 crore in its first round, aptly named "Kavach."

The fund focuses on investing in startups operating in the fields of defense, deeptech, aerospace, and space. Kumar's transition from government assignments to finance and startups reflects his eagerness to explore new horizons. As he embarks on this second innings, he aims to create value for both the fund and the innovative startups it supports.

Mounttech Growth Fund aims to back early-stage startups operating in the defense, aerospace, and deeptech sectors. It has a total corpus of ₹250 crore (approximately $33.5 million). The fund has already secured approval from the Securities and Exchange Board of India (SEBI).

Mounttech Growth Fund seeks to support innovative ventures related to space technology, Aerospace and Deep Tech. The fund will also invest in companies leveraging cutting-edge technologies.

The first scheme of the fund is called "Kavach." MGF-Kavachh is a Category-Il AIF involved in the business of venture capital investments in Aerospace &, Defence, Space Tech and Deep Tech sectors.

The chairman of Mounttech is Ajay Kumar while the CEO of the fund is Ravi Sethi who is former senior telecom industry executive

The fund has onboarded retired armed forces officers, including former Indian Air Force chief RKS Bhadauria and former Indian Navy vice chief SN Ghormade, along with other industrialists and business professionals.

Ajay Kumar's transition from government service to venture capital reflects his commitment to fostering innovation and supporting startups in critical sectors. 

Suzuki to Support India's Social Entrepreneurs Via Newly Established $40 Mn Venture Fund

On July 4, 2024, Suzuki Motor Corporation established a wholly-owned subsidiary called "Next Bharat Ventures IFSC Private Limited" (referred to as "Next Bharat") and a fund named "Next Bharat Venture Fund-1" (referred to as "Fund") in India.

The purpose of Next Bharat is to support and invest in social entrepreneurs working in areas such as agriculture, financial inclusion, supply chain, and mobility.

Through this initiative, Suzuki aims to contribute to solving social issues in India through business ventures. The company also plans to invest in venture capital projects.

By nurturing and empowering social entrepreneurs, Suzuki aims to connect with the "Next Billion" people in India, extending beyond the mobility sector and becoming part of India's future story.

With a capital of INR 1 billion, Next Bharat is headquartered in Special Financial Zone GIFT City, Gujarat. The total investment of the fund-1 will be US $40 million.

Toshihiro Suzuki, President of Suzuki, said, "There are about 1.4 billion people in India, but we have only reached about 0.4 billion people. Next Bharat will focus on nurturing and empowering social entrepreneurs, who are passionately solving the problems of India. Through this, we will connect with the “Next Billion” people of India, extending beyond mobility and becoming a part of India’s future story.”

Suzuki began production and sales of automobiles in India in 1983, and has since been providing customers with mobilities including automobiles and motorcycles. Through the activities of Next Bharat, Suzuki aims to build ties with the people of India beyond the mobility sector and contribute to the further development of India.

Sam Altman No Longer Owns/Controls OpenAI's VC Fund for AI Startups

OpenAI has recently changed the governance structure of its venture capital fund, resulting in Sam Altman no longer owning or controlling the fund. This was documented in a filing with the US Securities and Exchange Commission (SEC).

The fund, which invests in early-stage AI-driven companies, will now be managed by Ian Hathaway, who has been a partner at the fund since 2021. This restructuring aims to provide further clarity regarding the fund's management and operations.

The change in the governance structure of OpenAI's venture capital fund was made to provide further clarity regarding the fund's management and operations. According to reports, the initial general partner structure was intended as a temporary measure to quickly get things started.

Ian Hathaway, who has been a partner at the startup fund since its inception, has now taken control, ensuring a more traditional and transparent governance structure. This move also addresses concerns raised about the unique ownership structure of the fund under Altman.

The VC Fund is investing $175 million raised from OpenAI partners such as Microsoft, and notable to know that OpenAI itself is not an investor.

The OpenAI Startup Fund, which so far has has invested in Speak, Harvey, Descript, Mem and AI Assistant Milo, selects companies to invest in based on several criteria. The fund look for early-stage startups with big ideas about AI that can have a profound, positive impact on the world. The sectors of interest include healthcare, law, education, energy & infrastructure, the sciences, and more. The fund is particularly interested in AI tools that can empower people by helping them be more productive.

Saudi Arabia's PIF Plans To Create $40 Billion AI Fund

Saudi Arabia's Public Investment Fund (PIF) is planning to create a significant $40 billion fund dedicated to investments in artificial intelligence (AI), reported The New York Times and confirmed by the CNBC, later on. 

This move is part of the country's efforts to diversify its economy and become a more influential player in global business and geopolitics. The fund aims to become the world's largest investor in AI, showcasing Saudi Arabia's ambition to go beyond its oil-rich legacy.

The PIF has been in discussions with top venture capital firms, including one of Silicon Valley's largest venture capital firms— Andreessen Horowitz, to explore potential partnerships.

The focus of the fund will be on AI startups, chip makers, and the expansive data centers necessary for the next generation of computing. This strategic initiative reflects the global trend of significant investments in AI, which is reshaping industries and economies worldwide.

Notably, Andreessen Horowitz, known for its investments in successful companies like Airbnb and Facebook, has a significant number of AI-related startups in its portfolio. The collaboration with such a firm could provide the PIF with access to a wide range of innovative AI ventures and expertise.

The potential partnership with Andreessen Horowitz could accelerate the PIF's ambitions to become a leading investor in the AI space.

Saudi Arabia's Public Investment Fund (PIF) is the sovereign wealth fund of the Kingdom, established in 1971. It is one of the largest sovereign wealth funds globally, with total estimated assets of around $925 billion. The PIF plays a central role in Saudi Arabia's Vision 2030, which aims to diversify the economy away from oil and invest in various strategic sectors. The fund has been actively investing in both domestic and international ventures, including real estate, infrastructure, and technology, to stimulate economic growth and create jobs.

Of late, the PIF has made billions of dollars of investment into stake purchases and joint funds with major international companies like Uber, Bank of America, Citi, SoftBank and Blackstone.

Amazon's $1 Bn Corporate VC Fund To Invest in in Startups that Combine AI with Robotics

The Amazon Industrial Innovation Fund is a $1 billion corporate venture capital fund launched in 2022. The venture investment program by Amazon aims to supports emerging technology companies through direct investments.

This year, Amazon Industrial Innovation Fund wants to ramp up investments in companies that combine artificial intelligence (AI) and Robotics as the company is seeking to drive efficiencies across its logistics network.

In 2024, the Fund will expand to also invest in transportation, including autonomous vehicles and last-mile technologies.

"we are eager to support more promising startups as they scale to solve the most relevant industrial problems for Amazon and beyond.", said Franziska Bossart, Director, Industrial Innovation Fund at Amazon, who recently joined Amazon to lead the Industrial Innovation Fund and has over 20 years of experience working in corporate venture capital and digital transformation.

Franziska has recently told the Financial Times that "generative AI holds a lot of promise for robotics and automation" and is an area "we are going to focus on this year".

Last year, the Fund made its first investment in a generative AI company, the details of which have not been disclosed.

In an interaction with the Financial Times, Franziska said that innovation fund would expand its focus this year, including by seeking to invest in companies involved in the "last mile" of deliveries, when packages arrive with customers, as well as geographically and in later- stage companies.

Early this year, Franziska told TechCrunch that she sees potential in Europe and Asia and would like the portfolio, which is largely made up of early-stage companies, to shift “a little bit” more toward investments in later-stage startups.

The Amazon industrial innovation fund has made 12 investments in total, including in Mantis Robotics, which is developing a robotic arm that uses sensors to work alongside humans.

Singapore-based Leo Ventures Launches 10 Mn VC Fund for Tech Startups

Singapore-based venture capital firm, Leo Ventures, has announced the launch of 10 Million venture capital fund to finance technology startups.

As an incubator and accelerator, Leo Ventures is committed to fostering the growth of disruptive projects dedicated to empowering and nurturing visionary entrepreneurs.

Established this year, Leo Ventures is a pioneering Singapore-based venture capital firm dedicated to propelling the future of technology through strategic investments in early-stage technology projects.

Sonny Mohanty, Fund Manager at Leo Ventures while talking to The News Crypto, said, "We look at new investment opportunities through a founder and team lens – as the team executing the vision always comes first. We aim to get involved at the earliest possible stages and actively support our portfolio with all available resources."

Led by a team of seasoned tech entrepreneurs with decades of collective technology and investing experience, Leo Ventures actively assists tech startups in both web2 and web3 across APAC, India, and Middle East regions.

In web2, the fund engages with fintech, deep-tech, and ESG Tech, as well as AI and ML, and in web3, it supports projects related to DeFi, L0, L1, infrastructure, payment solutions, and web3 consumer tech projects.

The Leo Ventures team aims to provide a platform for the visionary, to accelerate their ideas, and make a lasting impact to support those at the forefront of tech & innovation.

Addressing the fund’s vision, Mr. Kishor, Managing Partner of Leo Ventures, said in a press release — “What sets us apart is not just our investments but our commitment to rewriting the playbook. We're taking a distinct path—prioritizing visionary founders, embracing diverse tech ideas, and actively sculpting success.”

Japan's Incubate Fund Asia Elevates Indian and Southeast Asian Startup Ecosystem with New Partner Appointments

Leading Venture Capital Fund Strengthens Leadership Team with Expertise in Nurturing Startups

Incubate Fund Asia, a sector-agnostic Japanese Venture Capital Fund specializing in seed-stage investment, has announced the promotion of two of its Principals, Rajeev Ranka and Dave Kwong, to Partners in the fund. The promotion of these two Principals reflects their significant contribution to the fund and their expertise in the Indian and South East startup ecosystem. The move comes as the fund aims to build a portfolio of around 20 startups with its third fund, which has a target corpus of $50 Million.

Rajeev Ranka and Dave Kwong have been instrumental in the success of Incubate Fund Asia’s India-focused entity, which was recently rebranded to enhance focus on pre-seed and Seed-stage startups in India and South East Asia. They have been with the fund for several years and have played a key role in identifying and nurturing promising startups in the region. In their new roles as Partners, Rajeev and Dave will continue to work closely with the founders and entrepreneurs in shaping the future of their startups. They will also play a key role in the fund’s investment strategy and portfolio management.

Rajeev Ranka joined Incubate Fund Asia in early 2020 as a Principal for India investments. He is an IIT Bombay graduate and has been leading India investments for the fund. Dave Kwong is a Partner at the fund and has been with the fund for several years. He has been instrumental in the investment and development of early-stage startups in South East Asia.

Commenting on the promotion, Rajeev Ranka, Partner at Incubate Fund Asia said, "I am excited to take on this new role and continue to work with the experienced team at Incubate Fund Japan and Asia to support the growth of early-stage startups in India. We have a strong track record of identifying and investing in promising startups, and I look forward to building on that success in my new role as Partner."

Dave Kwong added, "I am honoured to be part of this team as always and looking forward to continue to work with our team at Incubate Fund Asia to identify and invest in the most promising early-stage startups in the region. We have a unique opportunity to support the growth of the entrepreneurial ecosystem in India and Southeast Asia, and I am excited to be a part of that effort."

Mr Nao Murakami, Founder and General Partner of Incubate Fund Asia on the announcement, said, "We are thrilled to promote Rajeev Ranka and Dave Kwong to Partners in the fund. They have been instrumental in the success of our India-focused entity and have a deep understanding of the startup ecosystem in the region. We are confident that they will continue to play a key role in identifying and nurturing promising startups in India and Southeast Asia."

Incubate Fund Asia remains deeply committed to its vision of nurturing innovation and catalyzing the growth of startups, ultimately contributing to the development of a thriving entrepreneurial ecosystem across Asia. The fund has backed 27 Indian companies across B2B, B2C, supply chain, and consumer tech segments across both tier 1 and tier 2 markets with $500K to $1.5 million average deal size. It expanded to India in 2016 and started Incubate Fund India, which was recently rebranded as Incubate Fund Asia. 

The fund's strategy is to invest in pre-seed and Seed-stage startups in India and Southeast Asia, The recent announcement of the first close of their third fund with a target corpus of $50 million is a testament to their commitment to supporting early-stage startups in the region.

About Incubate Fund Asia

Incubate Fund, originating from Japan, is a renowned venture capital fund specializing in seed-stage investments. With a history of nurturing over 200 startups in Japan and Asian regions, they expanded to India in 2016 and started Incubate Fund India which was rebranded recently as Incubate Fund Asia. They actively engage with startups, offering hands-on support and mentorship, making them a vital partner for entrepreneurs. Incubate Fund Asia takes on a prominent role as a lead investor by committing a substantial 80% of its funds to Indian startups. This commitment spanned various sectors including B2B, B2C, Supply Chain, and consumer tech market.

For more information about Incubate Fund Asia, please visit their website at www.incubatefund.in.

Visa Launches $100 Mn Venture Fund for Generative AI Startups

Card-based payment services multinational organization Visa has announced the launch of a $100 Million venture fund to invest in Generative AI startups that will impact the future of commerce and payments.

Visa, which claims to be a pioneer of AI use in payments since 1993, considers this initiative an extension of Visa’s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce.

This generative AI ventures initiative will invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments.

This initiative will be led by Visa Ventures, the global corporate investment arm of Visa. Visa Ventures has been investing in and partnering with companies driving innovation in payments and commerce since 2007.

David Rolf, Head of Visa Ventures, Visa Inc. said, "While much of generative AI so far has been focused on tasks and content creation, this technology will soon not only reshape how we live and work, but it will also meaningfully change commerce in ways we need to understand."

Earlier in 2018, Visa had launched $100 million Venture Fund for investment in fintech startups. 

Antler India Closes ₹500 Cr of Its Maiden ₹600 Cr India-Focussed Fund

Antler India, the Indian arm of global early-stage investment platform, Antler, which focuses on pre-seed startups, has closed ₹ 500 crore of its maiden ₹ 600 crore ( ~ $75 million) India-focussed fund. Antler India is expecting to make the final close this quarter, reported Economic Times.

The India-focussed fund, which is separate from the global Antler franchise, has been in the making for almost one and a half years.

About ₹325 crore of the total corpus raised has seen participation from domestic pools of capital, including from Small Industries Development Bank of India (SIDBI). Other investors in the fund included sovereign entities, healthcare endowments as well as Antler’s global limited partners.

The India focused fund’s investments are expected to be more founder-led than sector-related, said the ET report citing Rajiv Srivatsa, cofounder and GP of Antler India.

Antler India's average cheque size is around $300,000 for 7–9% in the company.

From this corpus, Antler India is looking to back nearly 100 early-stage startups at the idea to pre-seed stage in next 3-4 years, and will reserve nearly half of the fund's corpus for the new investments while the remaining will be to double-down on top performers from its existing portfolio companies.

To date, Antler India has completed nearly 40 investments, with 28 companies receiving funding and the rest currently in the final stages of documentation. Antler India's investments span a range of sectors, including SaaS, consumer services, Web 3, and fintech.

Some of Antler India's investment include Bold Finance, Bookee, Cricinshots, Finverv, Flint, Gladful, Humit, Plotch.AI, InspeCity and Salad.