A $100 million fund has been established by venture capital firm Shastra VC to support early-stage companies in the fields of deep technology, artificial intelligence, climate technology, space technology, defense, and renewable sciences.
The company, formerly known as Veda VC, intends to invest $500,000 to $3 million in startups driven by intellectual property.
With a stronger emphasis on space and defense, artificial intelligence, and renewable sciences, Fund III will continue to support deeptech startups while expanding its capacity to assist businesses after initial investments.
Ashis Nayak, Avijeet Alagathi, and Vasant Rao are in charge of Shastra VC. While Alagathi founded BYG, which was later purchased by Curefit, Rao and Nayak had previously co-founded Autoninja, which was acquired by ICICI Lombard.
The company currently oversees assets valued at about $100 million and claims to have invested about $55 million in its first two funds. Startups like Simplismart, Alt Carbon, Sisir Radar, and Avammune are part of its portfolio.
Additionally, the company has established an advisory network that includes domain experts in biotech, semiconductors, climate, and space, as well as business executives and scientists like CP Gurnani and C. Jayaram. A network of more than thirty technical champions, including founders, researchers, operators, and LPs, provides additional support.
