Novastar Partners backs India's AJVC in $17M pre-seed fund bet
What's the deal? India-focused private markets platform Novastar PartnersDealroom has a profile for this one. Try Dealroom → has made its first-ever investment, backing early-stage venture firm A Junior VC (AJVC)Dealroom has a profile for this one. Try Dealroom →. AJVC, founded by Aviral Bhatnagar, runs a 1.65 billion INR fund (roughly $17 million) targeting pre-seed startups.
Who's involved? Novastar becomes what it says is the only fund-of-funds in India to back AJVC. The commitment gives Novastar's investors exposure to companies at the earliest stages across artificial intelligence, healthcare, deep tech, consumer technology, and brands.
What's the endgame? The deal kicks off Novastar's broader plan to build a diversified portfolio of funds and private businesses across India's private markets, focused on technology and tech-enabled companies. AJVC has backed more than 35 companies so far and plans to invest in over 85 across the fund's life.
Why now? Novastar founder Dhruv Jhunjhunwala said a programmatic approach fits India, "where the startup ecosystem continues to deepen across emerging sectors and technologies." Bhatnagar brings nearly a decade of early-stage investing experience, including a stint at Venture HighwayDealroom has a profile for this one. Try Dealroom →.
By the numbers: AJVC says it has engaged with more than 25,000 teams in under two years, a pipeline that anchors its sourcing strategy. Bhatnagar called Novastar "an early supporter in AJVC's journey to build a premier pre-seed platform for India."
The signal: Novastar is betting on the power law — that a few outsized winners drive most returns — as the right frame for India's pre-seed stage. Its debut check into a fund manager, rather than a startup, signals growing appetite for building institutional infrastructure beneath India's early-stage boom.
Read more: indianstartuptimes.com
Image credit: Generated with Gemini
