Aavishkaar Group, a fund management platform, has teamed up with Jamwant Ventures, a venture capital firm, to introduce a new fund with a total size of Rs 500 crore.

The fund targets defence and deep-tech firms, intending to invest in 15–25 startups, while allocating some capital for subsequent funding rounds.

Through this strategic alliance, OneAavishkaar initiated by the Aavishkaar Group, will utilize Aavishkaar Capital’s institutional prowess and fund governance, whereas Jamwant Ventures will provide extensive domain expertise and process insights. The initial collaboration under OneAavishkaar is with Jamwant Ventures.

Under the new fund, named Jamwant Ventures Fund 2, the companies plan to invest approximately 60–65 percent of the total amount at first, keeping the rest for subsequent investments, stated Vineet Rai, Founder, Aavishkaar Group. He mentioned that the fund will focus on businesses in the Seed and Series A phases.

Also Read: AI Appreciation Day: From Innovation to Transformation

Regarding investment areas, Navneet Kaushik, Founder of Jamwant Ventures, remarked, “We have individuals in India creating autonomous systems, including propellants and rocket engines. We are putting resources into advanced technologies that will extend beyond defense applications and also benefit the civilian sector. A nation cannot be built if a single technology is applicable to just one sector. It needs to be multidisciplinary and interdisciplinary."

Also Read: Karnataka to Become Quantum Capital of Asia Soon

Through Jamwant Ventures Fund 1, the company has allocated funds to startups that are in line with national security and indigenisation objectives. By September 2025, the fund has allocated resources to companies like Spacefields (solid rocket engines), TIEA Connectors (military-quality connectors), Aeronero (air-to-water conversion), and Thrustworks Dyentics (liquid rocket engines).

Also Read: Semicon India 2025: Designing A Self-Reliant Semiconductor Hub

Aavishkaar’s portfolio consists of companies like AgroStar, GoDesi, Ergos, Vecmocon Technologies, Midland Bank, Utkarsh Small Finance Bank, Zouk, and Newtrace, among others.