Aagama Ventures launches Rs 400 Cr fund to back fintech startups

Fintech-focused VC firm Aagama Ventures has launched a ₹400 Cr (around $45 Mn) fund to support early-stage fintech startups.

The firm plans to invest in 15–20 startups, targeting 4–5 investments annually, with around 50% of the fund reserved for follow-on funding.

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The fund has secured commitments from financial services and fintech veterans, including Mayang Goyal (founder of MoneyHop), Naveen Kukreja (co-founder of Paisabazaar), Bhavesh Gupta (former COO of Paytm), and Abhijit Singh (global head of Banking-as-a-Service, international and digital banking at HDFC Bank).

Shubhanga Prasad, Abhishant Pant, and Pankaj Singh joined forces earlier this year to launch Aagama Ventures. Pant founded the early-stage investment platform The Fintech Meetup (TFM), while Singh is a partner at Yatra Angel Network (YAN), an angel fund affiliated with TFM.

“We started this journey seven years ago with the idea that as the market and venture funding grow, we will always have a ready pool of founders, investors, and institutions to catalyze India’s fintech story,” said Abhishant Pant. 

“We are now moving from just writing the first check to a larger seed check where we can meaningfully contribute to the journey of the organization”, added Pankaj Singh.

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Shubhanga Prasad added, “This is possibly the first homegrown India-focused fintech fund built on the strength of a network rather than institutional backing or family wealth, and it’s testimony to the power of social capital. We see it as a generational opportunity to support founders shaping access to finance in India and beyond.”

The fund will target three fintech sub sectors: payments, banking and lending-focused businesses; ventures leveraging technologies like AI, data engineering and cybersecurity; and startups providing specialized financial services for sectors such as agriculture, health and energy.

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