Aviral Bhatnagar’s ajvc on Wednesday announced the close of its maiden fund at ₹165 crore, which will focus on making pre-seed investments in Indian startups. The firm had initially aimed to raise ₹100 crore for its debut fund, which it completed in March this year.
However, strong investor interest pushed total commitments to around ₹200 crore from global limited partners and family offices, though ajvc ultimately capped the fund size at ₹165 crore.
In March, Founder Bhatnagar hinted that investors had oversubscribed the sector-agnostic fund beyond its target and that the team was considering exercising the green shoe option.
Commenting on the close, he said, “We are deeply grateful to our LPs for their trust. The fund was significantly oversubscribed, but we chose to remain disciplined, closing at nearly Rs 165 crore. India is witnessing an unprecedented wave of first-time entrepreneurs. Meeting their ambition requires venture capital to operate at an entirely new velocity.”
ajvc, which launched its fund in September last year, has secured investments within just nine months. The firm said it has received more than 11,000 applications from founding teams and has already invested in 25 startups across artificial intelligence and consumer technology. Looking ahead, the VC plans to support an additional 60–70 startups over the next few years.
According to the firm’s website, its portfolio includes Bengaluru-based TruFides, which is developing AI agents for compliance operations; Guwahati-based Chop Finance, a generative AI platform tailored for finance and accounting professionals; and Ranchi-based Mithila Foods, an internet-first FMCG brand bringing the authentic taste of Bihar to modern households.
Founder Aviral Bhatnagar noted, “At ajvc, we are building a new-age investment firm, where technology powers deeper diligence, smoother fundraising, and scalable support. Our vision is simple: to back hundreds of founders while staying uncompromisingly founder-first.”
Beyond capital, ajvc offers its portfolio companies access to a strong network, structured resources worth ₹4 crore, and community-led programs designed to unlock customers and foster peer support. According to the firm, some startups in its portfolio have already grown from inception to generating ₹2–3 crore in annualized revenue within just a few months of funding.
