Aavishkaar Group partners with Jamwant Ventures to launch India’s first defence and deeptech fund
Aavishkaar Group launches ‘OneAavishkaar’ for venture capital ecosystem, Partners with Jamwant Ventures to launch ‘Jamwant Ventures Fund 2’, India’s First Veteran Led Defence and Deep-tech Fund with Target of INR 500 crore corpus
Mumbai, October 9, 2025. Aavishkaar Group, the Pioneering Fund Management platform launches ‘OneAavishkaar’ a one stop solution to drive scale for emerging venture funds with seamless enablement across fundraising, investments, operations, ESG and compliance. The product is tailored towards early fund managers looking to drive scale.
The first partnership under “OneAavishkaar” is with Jamwant Ventures to create India’s first Veteran Led defence and deep tech focussed fund, with a target corpus of INR 500 Crore.
“Jamwant Ventures Fund 2” will be a game-changer for defence and deep tech startups, unlocking catalytic capital and strategic mentorship for early-stage innovators responding to the Indian defence forces call for domestic defence and deep-tech production.
The partnership brings together Aavishkaar Capital’s experience of over 80+ investments and 53 successful exits, to scale Jamwant Ventures that has deep domain expertise in defence and deep tech sector. Jamwant Ventures Fund 2 will offer startups early capital backing with robust ecosystem of partners, pilots, and policy linkages. Startups can expect tailored support to scale commercially viable solutions with deep sectoral insights leading to high growth.
Vineet Rai, Founder, Aavishkaar Group, said, “India seeks indigenous production capabilities around defence tech and that require capital and a supportive ecosystem. Aavishkaar has deep expertise in building venture capability and “OneAavishkaar” is our offers to support the scale of venture ecosystem in defence tech industry through our partnership with Jamwant Ventures. We believe visionary entrepreneurs require powerful ecosystem to back them and we see this partnership as a bold step to catalyze innovation in India’s defence ecosystem. We believe strategic capital, when combined with deep sectoral insight, can unlock transformative potential. Together, we aim to empower indigenous startups that are not only building for national security but redefining the future of defence oriented deep tech in India.”
Jamwant Ventures is a sector-specialist investment firm focused on defence and deep tech innovation in India. Founded by senior Indian Navy veterans and former officials from the Technology Development Board (TDB), the firm brings a combination of operational defence experience and deep technical diligence capabilities. With a curated pipeline, government-backed deal flow (via iDEX, TDF, and DST), and an active mentorship model, Jamwant is uniquely positioned to support dual-use technologies from early-stage through scale.
Speaking about the partnership with OneAavishkaar, Cdr Navneet Kaushik, Founder, Jamwant Ventures, said, “Jamwant Ventures Fund 2 is strategically positioned to invest in the next wave of innovation aimed at India’s accelerated push for technological and defence self-reliance. The partnership between OneAavishkaar and Jamwant is natural that will support, seed and scale high-potential defence startups with validated technologies, enabling them to expand commercially and integrate into critical national infrastructure.”
Their first fund, the ‘Jamwant Ventures Fund 1’ has successfully deployed capital across high-potential startups aligned with national security and indigenization goals. As of September 2025, the ‘Jamwant Ventures Fund 1’ has deployed capital in several early-stage defence and deep tech startups such as Spacefields Pvt. Ltd. (Solid Rocket Propulsion), TIEA Connectors (Military-Grade Connectors), Axial Aero, adjudged the best aerospace startup in 2023 by Startup India of DPIIT (SD&UPRT Simulators), Aeronero (Air Water generation), Thrustworks Dyentics (Liquid Rocket Propulsion), AstraYAN (Marine Technologies), Suhora Technologies (Earth Observation & Geospatial Analytics) and Green Aero Propulsion Private Limited (Gas Turbine Engines).
In this strategic partnership, ‘OneAavishkaar’ will bring in Aavishkaar Capital’s institutional strength and fund governance, while Jamwant Ventures will bring in deep domain expertise and processes understanding. Together they will bring about accelerated deployment in innovative cutting-edge defence enterprises. The partnership aims to drive rapid opportunities as a first mover to India’s defence and deep tech scale-up ecosystem.
About’ OneAavishkaar’ and Aavishkaar Capital:
‘OneAavishkaar’ is an initiative from Aavishkaar Group and is a one stop solution to drive scale for the venture capital ecosystem. It will be powered by Aavishkaar Capital, the Impact fund manager of the Group, focused on the Global South with over c.US$550 million in assets under management across eight funds investing in both equity and credit. A pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, Aavishkaar Capital’s unique approach has resulted in its invested enterprises impacting over 136 million lives. Aligned to 13 out of the 17 Sustainable Development Goals, Aavishkaar Capital invests in sectors such as Sustainable Agriculture, Financial Inclusion and Essential Services across India, Emerging Asia, and Sub-Saharan Africa. For more details, please visit www.aavishkaarcapital.in
About Jamwant Ventures:
Jamwant Ventures is an Indian venture capital firm specializing in Defence, and Deep tech investments, founded by Naval Veterans and Ex Technology Development Board/DST officials. The fund, a SEBI registered Alternative Investment Fund, provide capital and strategic guidance to startups with products, materials, and manufacturing innovations. They focus on high-impact companies and offer mentorship and connection to resources as part of their comprehensive support for founders. The fund has marquee advisors which include retired senior defence officers, Senior Fund Managers, technologists and professors from reputed Institutes. For more details visit www.jamwantventures.com
