In a bid to broaden its investment portfolio, 360 ONE Asset, a wholly-owned subsidiary of 360 ONE WAM, has now launched a multi-stage defence and space strategy fund. 360 ONE Asset’s early stage VC head Abhishek Nag told Inc42 that the fund’s target corpus of INR 1,000 Cr has already been raised. Now, the firm is mulling to exercise INR 500 Cr greenshoe option, taking the total size of the fund to INR 1,500 Cr. As per Nag, the greenshoe would accommodate incremental investor demand and provide flexibility to scale exposure to high quality opportunities identified in the pipeline. The firm is looking to back about 15-20 portfolio deeptech companies across growth, late-stage or pre-IPO stages. Target segments would include defence tech, defence electronics, spacetech, aerospace, electronic warfare as well as allied sectors. “The strategy explicitly avoids single-program, purely launch-dependent businesses and prioritises scalable, IP-driven platforms with commercial and export potential,” he said. The average ticket size of investments typically range from INR 40 Cr to INR 70 Cr, depending on stage and conviction. Early stage investment would also be evaluated based on strategy and conviction, Nag added. So far, the fund has completed four investments in startups like Digantara,… Read MoreInc42 Media
