Lavni Ventures marks first close of Rs 200 Cr deeptech fund

Lavni Ventures has reached the first close of its second fund, moving closer to its target of raising Rs 200 crore to back early-stage deep-technology startups from India with ambitions to scale globally.

The SEBI-registered vehicle, dubbed Fund II, will focus on companies developing science-led solutions in climate, healthcare, energy, and education—areas that the firm says combine measurable social impact with strong commercial potential. Investments will range from Rs 2 crore to Rs 8 crore in seed to Series A rounds, with Rs 8 crore to Rs 15 crore reserved for follow-on capital.

The first close comes at a time when India’s deeptech ecosystem is drawing increased attention from both policymakers and investors. Government-led initiatives, including the National Deep Tech Startup Policy and the Deep Tech Innovation Platform, have bolstered the sector’s credibility and access to support networks.

Founded in 2020, Lavni Ventures launched its debut fund to test the thesis that Indian deep-tech founders could deliver scalable solutions for global markets at a fraction of the capital typically required in the West. 

Portfolio companies from Fund I include Pune-based Padcare Labs, which focuses on sustainable waste management; Monitra Healthcare, a provider of remote cardiac monitoring solutions; and MedPrime Technologies, which develops low-cost diagnostic imaging equipment. Together, these companies have logged more than 3.5 million student learning hours, facilitated over 10,000 healthcare interventions in underserved markets, and saved 303 metric tons of CO₂ equivalent, according to the firm.

“The strong repeat participation of Fund I investors in our second vehicle validates our belief that Indian deep-tech entrepreneurs can deliver both impact and attractive returns,” said Vasu Guruswamy, Co-founder and general partner. He cited India’s “capital-efficient innovation models, depth of technical talent, and increasingly mature startup ecosystem” as reasons the country is well-positioned to become a global leader in deeptech.

Sanjay Kanvinde, Co-founder and general partner, said, the fund is designed to bridge the gap between early traction and scalable growth—an often-cited challenge for deep-tech founders in India. “Patient capital, operational expertise, and global scaling support are essential to help these startups break into international markets,” he said.

The fund’s leadership team includes Guruswamy, a former managing director at CSL Energy Capital; Kanvinde, an angel investor and board member of Venture Center; and Krishna Shivram, a former CFO of Weatherford and CEO of Sentinel Energy Services. Between them, they have decades of operational and investment experience in technology, energy, and capital markets.

The firm expects to review more than 800 deeptech opportunities annually, applying a selection process centered on sustainable business models, measurable impact, and clear exit potential. While the final size of Fund II remains to be secured, Lavni Ventures aims to complete the fundraise in the coming months.