InCred Alternative Investments Invests INR 185 Cr in VEM Technologies
The fresh capital will be used to expand production capacity, strengthen advanced manufacturing infrastructure, and set up a new state-of-the-art facility.
Vivek Singla, Managing Partner & CIO, InCred Alternative Investments
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InCred Alternative Investments has announced an INR 185 crore growth capital investment in Hyderabad-based defence and aerospace firm VEM Technologies Private Limited.
The investment is being made through its private equity funds, InCred Growth Partners Fund-I (IGPF-I) and InCred Growth Partners Fund-II (IGPF-II).
Founded in 1988 by V Venkata Raju, VEM Technologies has established itself as a key private-sector player in India’s defence ecosystem. The company specialises in system engineering, integration, design, manufacturing, and quality assurance for defence, aerospace, and space applications. It claims to have contributed to major strategic missile programmes such as BrahMos, Akash, and Prithvi, and is involved in developing systems including missile components, UAV sub-systems, and avionics.
The fresh capital will be used to expand production capacity, strengthen advanced manufacturing infrastructure, and set up a new state-of-the-art facility. These developments are aimed at supporting the company’s next phase of growth and addressing increasing demand from both domestic and international markets.
InCred Alternative Investments, part of InCred Capital Financial Services, focuses on alternative investment strategies across private markets. Its Growth Partners Fund series targets high-quality, founder-led Indian businesses operating in sectors considered strategically important.
InCred Growth Partners Fund-I, launched in 2023, is a SEBI-registered Category II Alternative Investment Fund and is nearing full deployment. Fund-II, launched in late 2025, is currently in the investment phase. Together, the funds have raised around INR 1,500 crore and typically invest between INR 150 crore and INR 250 crore per company.
InCred Capital, the broader platform, operates across investment banking, wealth management, and asset management. Its alternative investments arm aims to provide diversified opportunities for investors while supporting the growth of emerging businesses.
InCred Alternative Investments has announced an INR 185 crore growth capital investment in Hyderabad-based defence and aerospace firm VEM Technologies Private Limited.
The investment is being made through its private equity funds, InCred Growth Partners Fund-I (IGPF-I) and InCred Growth Partners Fund-II (IGPF-II).
Founded in 1988 by V Venkata Raju, VEM Technologies has established itself as a key private-sector player in India’s defence ecosystem. The company specialises in system engineering, integration, design, manufacturing, and quality assurance for defence, aerospace, and space applications. It claims to have contributed to major strategic missile programmes such as BrahMos, Akash, and Prithvi, and is involved in developing systems including missile components, UAV sub-systems, and avionics.
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