AUM Ventures launches $30M VC fund with focus on Indian founders
The objective is to leverage Indian entrepreneurs looking forward to taking their startups to new markets and the Indian diaspora who want to innovate and build solutions for their home country.
United Arab Emirates (UAE) based has announced the launch of its maiden venture capital fund. AUM Ventures is an early and pre-growth stage VC fund aimed at supporting tech/tech-enabled and consumer-focused Indian entrepreneurs.
The objective is to leverage Indian entrepreneurs who are looking forward to taking their startups to new markets and the Indian diaspora who want to innovate and build solutions for their home country.
According to a report by Gulf News, the VC firm is targeting $30 million for the fund. It has received an anchor commitment from a "prominent family office", added the report.
Chetan Mehta, Founding Partner at AUM Ventures, commented, "One of our key focuses will be to bring our Indian portfolio companies to the UAE, help them set up their regional base at Abu Dhabi Global Market (ADGM)—the capital’s international financial market, and be their growth enablers."
An angel investor and former CEO of family office , Chetan has invested in over 60 startups across India, Israel, UAE, and the US.
AUM Ventures helps entrepreneurs set up regional operations, as well as raise follow-on capital from global investors, to allow market expansion. It closely works with India’s technical diaspora facilitating them to return to the country and work around their ideas, while also bridging the gap between them and the global stage by enabling them to take their ideas worldwide.
It is licensed and regulated by Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital Emirate. Located in Abu Dhabi, Bengaluru, and Mumbai, the VC firm supports startups in their early and pre-growth stages. Until now, it has invested in 11 companies including Skyroot Aerospace, Smiles.ai, and GlobalFair.
Edited by Saheli Sen Gupta
