New fund · AI & Deep Tech

Golden Sparrow Ventures closes $20 Mn Fund II

By Startup Enthusiast · 4 February 2026

What they do

Golden Sparrow Ventures is an early-stage venture fund investing in deeptech and AI startups

It announced the first close of its $20 Mn Fund II, with over half already committed

More than 60% of its first fund's investors returned for this fund, showing strong LP confidence

Golden Sparrow Ventures announced the first close of its Fund II.
The fund size is $20 Mn (INR 180.8 Cr).
Over half of the fund has already been committed by investors.
More than 60% of the limited partners (LPs, the investors in the fund) from Fund I also invested in Fund II.
The fund will invest in about 22 Indian startups at pre-seed and seed stages.
The average cheque size will be $650,000.
50% of the fund is earmarked for deeptech startups and 50% for enterprise AI ventures.
12% of the corpus is set aside for follow-on investments in portfolio companies showing strong early traction.
The first investment from Fund II was made in an enterprise data platform (details undisclosed).

Indian deeptech has become consistently backed after a prolonged lull.
Of over 90 new funds announced in 2025, about 21% carry explicit deeptech mandates.
The Indian Cabinet approved an RDI scheme with a corpus of INR 1 Lakh Cr to boost deeptech.

Golden Sparrow Ventures is a venture capital firm founded in 2023 by Rishaad Currimjee.
It invests in early-stage Indian startups, focusing on deeptech and enterprise AI.
Between 2023 and 2025, it invested in 18 deeptech startups from its first fund.
Its portfolio includes companies like Ethereal, Theranautilus, and Morphing Machines.
The firm plans to invest in about 22 startups from Fund II at pre-seed and seed stages.

The fund will invest in about 22 Indian startups at pre-seed and seed stages.
It will allocate 50% to deeptech and 50% to enterprise AI.
It has already made its first investment from Fund II in an enterprise data platform.