New fund · Professional & Local Services

Novastar makes maiden India LP investment in AJVC

By Startup Enthusiast · 15 September 2026

What they do

AJVC is a pre-seed venture capital firm investing ₹1.5 crore for 9% equity

Novastar Partners, a SEBI-registered fund-of-funds, invested an undisclosed amount as an LP in AJVC

AJVC closed its maiden ₹200 crore fund last year and has invested in over 35 startups to date

Novastar Partners made its maiden India LP investment in AJVC for an undisclosed amount.
AJVC closed its maiden fund of ₹200 crore last year, with a corpus of around ₹165 crore.
AJVC has invested in 32 startups to date and plans to invest in more than 85 companies over the fund's life.
AJVC invests ₹1.5 crore for 9% equity in pre-seed startups.
It provides operational support including product refinement, hiring, sales, marketing, finance, legal, and compliance.
AJVC's portfolio includes Iztri, Handy Panda, and Mindcase, and it focuses on AI, healthcare, deeptech, consumer tech, and brands.
Novastar is a SEBI-registered Category II AIF that operates as a fund-of-funds and also makes direct investments.
Novastar plans to allocate 15% of its capital to early-stage, the majority to growth, and a small share to late-stage investments.

This marks Novastar's first LP investment in India, signaling its entry into the Indian startup ecosystem.
AJVC's pre-seed focus and operational support model differentiate it in the early-stage VC landscape.
The investment comes as AJVC deploys its maiden fund and targets a large portfolio of over 85 companies.

AJVC is a pre-seed focused venture capital firm that invests ₹1.5 crore for 9% equity in startups.
It provides operational support in product refinement, hiring, sales, marketing, finance, legal, and compliance.
AJVC's portfolio includes Iztri, Handy Panda, and Mindcase.
It invests across sectors such as AI, healthcare, deeptech, consumer tech, and brands.
AJVC has invested in 32 startups to date and plans to invest in more than 85 companies over the fund's life.

AJVC plans to invest in more than 85 companies over the fund's life.
Novastar plans to allocate 15% of its capital to early-stage, the majority to growth, and a small share to late-stage investments.

Novastar Partners (LP) — Novastar is a SEBI-registered Category II AIF that operates as a fund-of-funds and also makes direct investments. It was founded in 2025 by Dhruv Jhunjhunwala.