Navam Capital Closes Maiden Fund at Rs 315 Crore

Navam Capital has closed its first fund, Navam Venture Fund-I, at over ₹315 crore ($35 million), exceeding its initial target of ₹250 crore.

The VC firm has already invested in eight startups and plans to invest in a total of 15–16 companies.

Navam focuses on early-stage investments in frontier technologies and science-led innovation. The fund is largely backed by domestic capital, with commitments from family offices, corporate groups, ultra-high-net-worth individuals, and technology founders.

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“The fund typically writes first cheques of Rs 5-8 crore at the seed and pre-series A stages (early stages), while keeping capital aside for follow-on rounds,”  Rajeev Mantri, the company’s founder and managing partner, said, adding that Navam also selectively participates in series A and series B rounds (growth capital) to maintain stage diversity in its portfolio.

“India has a large share of global chip design talent, and in spacetech, the ecosystem is finally opening up beyond government programmes. Both sectors also have strong policy support, which makes them very attractive,” he said.

“India today offers a rare convergence of world-class engineering talent, deepening capital markets and cost-efficient R&D.” “We are backing founders building IP-rich platforms and products invented in India for global customers.”

Navam sources investments through founder networks, academia, research institutions, and industrial labs.

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It focuses on rigorous technical diligence, supported by domain experts, and works closely with founders to turn lab breakthroughs into manufacturable and commercially viable products. This includes support through its network of industrial and B2B companies.

The fund’s portfolio includes startups working on reconfigurable computing architectures, swarm robotics, multi-sensor satellite imaging, quantum-safe cybersecurity hardware, AI-driven industrial inspection systems, advanced drones and novel sensing technologies.

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