New fund · AI & Deep Tech

Aum Ventures hits first close of ₹225 crore fund

By Startup Enthusiast · 10 August 2026

What they do

Aum Ventures is an early-stage VC investing in IP-led deeptech startups from India

It announced the first close of India Innovation Fund II at ₹225 crore ($23.6M), targeting ₹750 crore

Fund I delivered a 2.23x gross MOIC and 53% IRR, with a portfolio company becoming India's first spacetech unicorn

Aum Ventures announced the first close of its India Innovation Fund II at ₹225 crore ($23.6M) on 10 August 2026.
The fund's target corpus is ₹750 crore (about $78.7M to $80M).
Over 65% of limited partners (LPs) are from international markets including the US and Middle East.
LPs include family offices, entrepreneurs, and strategic investors.
The fund plans to invest in 25–30 companies over its life.
It will write cheques of $750,000 to $2 million at entry, with follow-on reserves for Series A and B rounds.
Aum Ventures is registered with SEBI as a Category II Alternative Investment Fund (AIF).
The fund will provide portfolio companies access to global markets, strategic partnerships, talent, and industry expertise across India, US, Israel, and Middle East.

India's deeptech ecosystem is seeing policy support from initiatives like the Space Policy 2023, IN-SPACe, DLI scheme, and ISM 2.0.
Other deeptech funds have been launched recently, including Shastra VC ($100M), IIT Madras Unicorn Frontier Fund (₹600 crore), and Piper Serica Bharat Tech Fund (₹800 crore).
Aum Ventures' Fund I delivered a gross MOIC of 2.23x and a gross IRR of 53%.
One portfolio company, Skyroot Aerospace, became India's first spacetech unicorn in May 2026 with a $1.1B valuation.
Skyroot Aerospace launched its Vikram-1 rocket on 18 July 2026, placing payloads in a 450km low Earth orbit.

Aum Ventures is an early-stage venture capital firm investing in IP-led deeptech startups from India.
It focuses on sectors including spacetech, AI, semiconductors, aerospace, defence tech, robotics, energy transition, and advanced manufacturing.
The firm was founded in 2023 and launched its first fund, Fund I, in the same year.
Fund I was $30M in size.
Portfolio companies include Skyroot Aerospace, Azimuth AI, Cosmoserve Space, Sanyark Space, Sully.ai, Latentai, Swirepay, Zime AI, Helogen, Llumo, Validus, and Gimbal Space.
Two portfolio companies saw valuation gains of over 14x their entry valuation, and two others saw gains of over 10x.
Fund I's exit included Sharang Shakti, which was acquired by LAT Aerospace in February 2026.
Follow-on investors in Fund I portfolio companies include GIC, Temasek, Accel, and Cyient Semiconductor.

The fund will invest in 25–30 companies over its life.
It will provide portfolio companies access to global markets, strategic partnerships, talent, and industry expertise across India, US, Israel, and Middle East.

International LPs (US, Middle East, other global markets) (limited partner) — Over 65% of the fund's LPs are from international markets.
Family offices, entrepreneurs, strategic investors (limited partner) — These are the types of LPs in the fund.