Aditya Hadi Pratama · · 2 min readIndian founders-focused VC firm launches $30m maiden fund
United Arab Emirates-based AUM Ventures has launched its first fund, which will target Indian entrepreneurs who build startups in their home country or abroad.
The VC firm told Tech in Asia that it is targeting US$30 million for the fund, and it has received an anchor commitment from a prominent family office.
Chetan Mehta (fourth from the left), founder of AUM Ventures / Photo credit: AUM Ventures
AUM Ventures was established by Chetan Mehta, an angel investor and former chief executive of a family office called Wami Capital. He has invested in over 60 startups across India, Israel, UAE, and the US.
The firm is looking to back Indian founders who want to take their businesses to new markets and the Indian diaspora who want to return home and build solutions for the country.
“One of our key focuses will be to bring our Indian portfolio companies to the UAE, help them set up their regional base at Abu Dhabi Global Market (ADGM) – the capital’s international financial market, and be their growth enablers,” Mehta said in a statement.
See also: These are the most active investors in India’s startups
AUM Ventures is also the first VC firm that focuses on early-stage startups built by Indian founders to be licensed and regulated by ADGM.
To date, the VC has invested in 11 companies including Skyroot Aerospace, Smiles.ai, and GlobalFair.
Editing by Deepti Sri and Eileen C. Ang
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