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Shastra VC has launched a USD 100 million venture capital fund focused on backing early-stage startups in deep technology sectors. The fund will target areas such as artificial intelligence, climate tech, spacetech, defence and renewable sciences.
Previously known as Veda VC, the firm plans to invest between USD 500,000 and USD 3 million in startups built around strong intellectual property and innovation.
With its third fund, Shastra VC aims to sharpen its focus on space and defence technologies, along with AI and renewable sciences. It also intends to increase its capacity to support companies beyond initial funding rounds.
The firm is led by Vasant Rao, Avijeet Alagathi and Ashis Nayak. Rao and Nayak earlier co-founded Autoninja, which was acquired by ICICI Lombard, while Alagathi founded BYG, later acquired by Curefit.
Shastra VC has deployed around USD 55 million across its first two funds and currently manages assets worth about USD 100 million. Its portfolio includes startups such as Simplismart, Alt Carbon, Sisir Radar and Avammune.
It has also built an advisory network of business leaders and scientific experts, supported by over 30 technical specialists.
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