ajvc closes maiden fund at Rs 165 Cr, bags 2X its target corpus in commitments
The fund, which had initially targeted Rs 100 crore for its maiden fund, received 2X of its original target backed by global LPs and family startups.
Aviral Bhatnagar’s ajvc on Wednesday said it closed its maiden fund at Rs 165 crore, which will make pre-seed investments into Indian startups.
The firm had initially sought to raise a Rs 100 crore maiden fund, which it closed in March this year, YourStory had reported.
However, the fund managed to attract large interest, attracting Rs 200 crore in commitments from global limited partners and family offices, but decided to cap the total fund size at Rs 165 crore.
Founder Bhatnagar, in March, had hinted that the sector-agnostic fund was oversubscribed beyond the target, and it is considering exercising the green shoe option.
“We are deeply grateful to our LPs for their trust. The fund was significantly oversubscribed, but we chose to remain disciplined, closing at nearly Rs 165 crore. India is witnessing an unprecedented wave of first-time entrepreneurs. Meeting their ambition requires venture capital to operate at an entirely new velocity,” said Bhatnagar.
ajvc, which launched its fund in September last year, has managed to attract investments within just nine months. According to the firm, it has received over 11,000 applications from founding teams and has already backed 25 startups working in the realm of artificial intelligence and consumer technology.
The VC aims to invest in 60-70 additional startups in the coming years.
According to the firm’s website, its portfolio includes Bengaluru-based TruFides, which is building AI agents for compliance operations; Guwahati-based Chop Finance, a generative AI platform for finance and accounting professionals; and Ranchi-based Mithila Foods, an internet-first FMCG brand that aims to bring the authentic taste of Bihar to modern households.
“At ajvc, we are building a new-age investment firm, where technology powers deeper diligence, smoother fundraising, and scalable support. Our vision is simple: to back hundreds of founders while staying uncompromisingly founder-first,” the founder added.
Along with capital, ajvc helps its portfolio companies gain access to a strong network, structured resources valued at Rs 4 crore, and community-led programmes that look to unlock customers and peer support.
According to the firm, some of its portfolio companies have already accelerated from inception to clocking in Rs 2 crore to Rs 3 crore in annualised revenue within just a few months of funding.
Edited by Suman Singh