Pavestone Capital To Invest in 12 Startups from Its Target Corpus of ₹ 700 Cr

Hyderabad-based venture capital firm, Pavestone Capital, plans to invest in 12 start-ups through its target corpus of ₹700 crore, said media reports citing the VC firm's managing partners.

Set up in July 2021, Pavestone Capital, is a SEBI Regulated Alternative Investment Fund (AIF). It invests in startups building products that focus on reinventing how an Enterprise works.

Predominantly a growth-stage fund, Pavestone Capital invests in Series A & Series B rounds, and has reviewed nearly 350 start-ups in the last 18 months.

According to the VC firm's LinkedIn profile, it is seeking to partner with 12-15 early growth-stage firms (Series A/ Series B) that are building products/platforms to solve problems of large enterprises (public or private). Typical investment is in the range of INR 25 Cr to 60 Cr.

In addition, the VC firm will partner with 5 early-stage firms (Seed / Pre Series A) working on cutting-edge technologies (Frontier technologies such as Space tech, 5G Infra, Block chain, Quantum computing and EV components) that seek to solve large problems. Typical investments would be in the range of INR 8 Cr to 15 Cr.

Till April this year, Pavestone Capital has raked in about Rs 430 crore ($52.54 million) for its first fund. 

Last year in June, Pavestone Capital invested in Series A round of Bellatrix Aerospace and prior to this, the VC firm led a $21 Mn funding round of defence startup NewSpace Research & Technologies.