Aum Ventures Announces First Close of  India Innovation Fund II at INR 225 Cr 

AUM Ventures has announced the first close of its India Innovation Fund II at INR 225 crore. 

AUM Ventures had launched the fund in June this year with a target corpus of INR 750 crore (USD 80 million approximately) to back Indian founders building IP-driven, innovation-led companies. 

The VC said the first close saw a 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.

The new fund will focus on sectors such as SpaceTech, Artificial Intelligence, Semiconductors, Aerospace, DefenceTech, Robotics, Energy Transition, Advanced Manufacturing and other IP-led frontier technologies. 

The SEBI registered Category II AIF will back at the pre-seed and seed stages, with initial investments typically ranging from USD 750,000 to USD 2 million. It also plans to reserve a significant capital for follow-on investments through Series A and Series B. Over its lifecycle, the fund is expected to invest in 25 to 30 companies.

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.”