India’s Aavishkaar Group has announced the launch of OneAavishkaar, a platform designed to support emerging venture funds in scaling their operations.
As part of its latest initiative, Aavishkaar also named Jamwant Ventures as its first partner to raise ₹500 crore (about $60 million) for India’s first veteran-led defence and deep-tech vehicle.
The new fund, Jamwant Ventures Fund 2, is described by the firms as India’s first veteran-led strategy focused on the defence and deep-tech opportunity set.
It will target early-stage companies developing dual-use and mission-critical technologies, pairing capital with structured mentoring, access to pilots, and policy linkages.
India seeks indigenous production capabilities around defence tech and that require capital and a supportive ecosystem, said Vineet Rai, founder of Aavishkaar Group.
“OneAavishkaar is our offer to support the scale of the venture ecosystem in the defence tech industry through our partnership with Jamwant Ventures,” he added.
Under the partnership, OneAavishkaar provides institutional infrastructure and fund governance while Jamwant supplies domain expertise and processes shaped by service experience and government programmes.
OneAavishkaar is designed for first- and early-time managers looking to scale faster by leveraging shared infrastructure across the fund lifecycle, from capital formation and investment processes to ESG measurement and compliance, per the announcement.
The initiative is powered by Aavishkaar Capital, the group’s impact investing arm focused on the Global South, which manages about $550 million across eight equity and credit funds.
Jamwant Ventures is a sector-specialist investment firm focused on defence and deep tech innovation in India.
Founded by senior Indian Navy veterans and former officials from the Technology Development Board (TDB), the firm brings a combination of operational defence experience and deep technical diligence capabilities.
“Jamwant Ventures Fund 2 is strategically positioned to invest in the next wave of innovation aimed at India’s accelerated push for technological and defence self-reliance,” said Jamwant Ventures founder Cdr Navneet Kaushik, Founder, Jamwant Ventures.
Jamwant’s first vehicle has backed a slate of early-stage companies aligned with national security and indigenisation goals, including Spacefields (solid-rocket propulsion), TIEA Connectors (military-grade connectors), Axial Aero (simulation), Aeronero (air-to-water generation), Thrustworks Dyentics (liquid propulsion), among others.
Aavishkaar, set up in 2001, is one of the earliest investors in Asia to emphasise impact in its portfolio selection, dedicated to growth companies in emerging markets.
The group has some half a billion dollars in assets under management across seven equity vehicles.
In late 2023, it closed its Aavishkaar India Fund VI at $150 million, with commitments from DFIs that include IFC, British International Investment, and Swiss Investment Fund for Emerging Markets.
