Aavishkaar Group, a fund management platform, has partnered with Jamwant Ventures, to launch Jamwant Ventures Fund 2, a veteran-led defence and deep-tech focused fund, with a target corpus of ₹500 crore.
The new fund aims to be a catalyst for defence and deep-tech startups by providing strategic mentorship and early-stage capital to innovators responding to India’s push for indigenous defence production.
This is the first partnership under the OneAavishkaar, the newly initiative launched. OneAavishkaar is a comprehensive solution designed to accelerate the growth of emerging venture funds through seamless support in fundraising, investments, operations, ESG, and compliance. The initiative specifically caters to early-stage fund managers aiming to scale their impact.
This partnership brings together Aavishkaar Capital’s extensive track record of over 80+ investments and 53 successful exits, and Jamwant Ventures’ deep domain expertise in the defence and deep-tech sectors. The collaboration is expected to enable startups with not just capital, but also a strong ecosystem of partners, pilots, and policy linkages to help them scale commercially viable technologies.
Vineet Rai, Founder, Aavishkaar Group, said, “India seeks to strengthen its indigenous defence tech capabilities, which require both capital and a robust support system. Through ‘OneAavishkaar’, we aim to empower the venture ecosystem in the defence tech industry by partnering with Jamwant Ventures. We believe that strategic capital combined with deep sectoral insight can unlock transformative potential and accelerate innovation in India’s defence and deep-tech ecosystem.”
Navneet Kaushik, Founder, Jamwant Ventures, said, “Jamwant Ventures Fund 2 is strategically positioned to invest in the next wave of innovation fuelling India’s defence and technology self-reliance. Our partnership with OneAavishkaar will seed and scale high-potential startups, helping them grow commercially while contributing to national security.”
Jamwant Ventures, founded by senior Indian Navy veterans and former Technology Development Board (TDB) officials, is a sector-specialist investment firm focused on defence and deep-tech innovation. Backed by a curated pipeline and government-linked deal flow (through iDEX, TDF, and DST), the firm offers mentorship and strategic guidance to dual-use technology startups from the early stage through scale.
The first fund, Jamwant Ventures Fund 1, has already deployed capital across several promising startups aligned with India’s national security and indigenisation goals. Its portfolio includes companies such as Spacefields (Solid Rocket Propulsion), TIEA Connectors (Military-Grade Connectors), Axial Aero (Aerospace Simulators), Aeronero (Air Water Generation), Thrustworks Dyentics (Liquid Rocket Propulsion), AstraYAN (Marine Technologies), Suhora Technologies (Earth Observation & Geospatial Analytics), and Green Aero Propulsion (Gas Turbine Engines).
