Ather Energy-backer Navam Capital has marked the final close of its maiden alternative investment fund (AIF), Navam Venture Fund I, at INR 315 Cr (about $34.3 Mn) to back Indian deeptech startups building for global markets. The fund, which had a target corpus of INR 250 Cr, was oversubscribed and closed at INR 315 Cr following the exercise of green shoe option, Navam Capital said in a statement. The fund attracted capital from seasoned business operators, family offices, technology founders, industrial groups and conglomerates. The investment firm has already backed deeptech startups across sectors such as advanced computing, semiconductors, robotics, drone tech, spacetech, enterprise AI, climate tech and materials science via the fund. It counts Aereo, Agnikul Cosmos, EnNatura, GalaxEye, TechEagle, Vayudh, among others, in its portfolio. “Navam is partnering with founders who are pushing the technology frontier – developing IP-rich, proprietary platforms and products that are invented in India and built for the world,” Rajeev Mantri, founder and managing director at Navam Capital, said. Founded by Mantri, who is also the cofounder of Vyome Therapeutics and director at GPSK Investment Group, Kolkata-based Navam Capital makes seed and early stage investments in startups working on frontier technology and science-driven innovation.… Read MoreInc42 Media
