Java Capital closes Rs 50 Cr fund for tech investments, plans to open Rs 25 Cr greenshoe option

Bengaluru-based micro venture capital fund Java Capital has announced the final close of its Rs 50 crore fund. The fund saw participation from undisclosed founders and HNIs in India, the Middle East, and the US.

Java Capital will invest the capital in deeptech, climate tech, and B2B SaaS startups. The fund has already backed companies such as AuditCue, Okulo Aerospace, and Oorja.

It plans to open a greenshoe portion of Rs 25 crore in response to ongoing interest from Limited Partners (LPs). A greenshoe option allows a venture capital firm to raise additional capital from investors beyond its initial target corpus in the event of strong demand.

Founded by Karteek Pulapaka, Bhargavi V, and Vinod Shankar, Java Capital began as an angel syndicate platform in 2020 and transitioned into a micro VC fund, receiving an alternate investment fund (AIF) license in 2022. Java Capital has a specific focus on three key areas: Software-as-a-Service (SaaS)/enterprise software, deeptech, and climate tech.

Java Capital targets startups at the seed or pre-seed stages and is actively seeking opportunities in Tier II cities like Jaipur, Surat, and Udupi. Through its fund, Java Capital has invested in companies like AgniKul Cosmos, The ePlane Company, CynLr, KukuFM, Eat Better, Codingal Education, and Yellow Metal.