AUM Ventures Launches $80M Second Fund Focused on Indian Deeptech

Gate News message, April 27 — AUM Ventures, an India-focused deeptech venture capital firm, is preparing to launch its second fund at approximately 7.5 billion rupees (US$80 million), according to founding partner Chetan Mehta. The firm is targeting a first close of US$20 million to US$25 million by May, with deployments expected in the second half of 2026.

The firm closed its first fund at US$23 million in 2025, making 24 investments across sectors including spacetech, semiconductors, and AI. Notable portfolio companies include Skyroot, Cosmoverse Space, Azimuth AI, and Sanyark Space. AUM has already secured a license from India's Securities and Exchange Board of India for the second fund.

Mehta emphasized that geopolitical tensions strengthen India's investment case, as governments increasingly focus on reducing dependence on external supply chains. He highlighted semiconductors and spacetech as key sectors of interest, noting that India's rising geopolitical position makes it an attractive investment destination for deeptech innovation.