Venture capital platform Finvolve has announced the first close of its latest fund at ₹90 crore. The fund targets a total corpus of ₹250 crore and will invest in growth- and late-stage Indian startups across defence and aerospace, frontier and strategic technology, and energy and consumer sectors.
The fund plans to make 30-35 investments over the next three to four years. It will focus on companies that have established product-market fit, demonstrated growth potential, and built the ability to scale their businesses.
Additionally, Finvolve has retained a greenshoe option to accept commitments beyond the ₹90 crore first-close corpus. “From a capital perspective, we see a compelling opportunity to participate in companies that have already crossed the early-risk phase and are now entering their next stage of value creation,” said Apoorva Vora, co-founder of Finvolve.
Finvolve currently manages four other active funds across its investment strategy. Its previous Category-II fund has completed its investment cycle and is fully deployed, with its portfolio focused on pre-IPO companies. Meanwhile, the broader platform covers companies across stages ranging from pre-seed and growth to businesses approaching the public markets.
“From defence and aerospace to frontier technology, energy, and consumer, we are seeing founders tackle increasingly large and complex opportunities. This fund is designed to support those companies at the stage where the right capital and ecosystem can help them make that leap,” said Ashish Bhatia, co-founder, Finvolve.
With the new fund, Finvolve plans to expand its investments in Indian startups that have moved beyond the early stages and are seeking capital to accelerate growth. The fund will combine financial backing with ecosystem support as portfolio companies scale across their respective sectors.
