The first close of Golden Sparrow Ventures’ $20 million Fund II has been announced. Golden Sparrow Ventures is a venture capital firm that invests in Indian-origin deep-tech and enterprise AI founders.
More than 60% of Fund I’s limited partners have reinvested, and more than half of the fund has been committed. With an average check size of $650,000, the fund will target 22 businesses in the pre-seed and seed stages. 50% of the portfolio will be allocated to enterprise AI and 50% to deep tech.
A further 12% of the capital is set aside for investments in breakout companies. Over a ten-year period, the fund aims for five times gross returns.
According to Golden Sparrow, it has already made its first Fund II investment, supporting a repeat founder creating an enterprise data platform that organizes and cleans legacy data for big businesses. The investment was made in the cross-border corridor at the earliest institutional stage.
The venture capital firm also stated that its first $8 million fund produced top-decile results and was fully deployed across 18 companies between 2023 and 2025. Space-tech startup EtherealX, semiconductor startup Morphing Machines, MyoLab, Theranautilus, and GPU virtualization firm Hosted AI are among the companies in the portfolio.
A strategic change from providing funding for technological advancement to creating entire technology ecosystems is indicated by the Union Budget 2026–2027, which places equal emphasis on manufacturing, infrastructure, and human capital for India’s deep-tech ecosystem.
Golden Sparrow Ventures is an Indian venture capital firm that was founded in 2023 by Rishaad Currimjee. The company prefers to invest in businesses in a variety of industries, including SaaS and DevOps, deep tech and hard science, and AI and ML.
