Lavni Ventures achieves Rs 200 crore target for second fund
The fund has brought Quest Global Engineering Services as a Limited Partner (LP), adding an institutional investor from the engineering sector to its LP base.
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Deeptech-focused venture capital firm Lavni Ventures has achieved the Rs 200 crore target for its second fund, a year after its first close.
The Bengaluru-based VC firm has retained a Rs 100 crore greenshoe option, giving it room to raise more capital if it chooses to.
The fund has brought Quest Global Engineering Services as a Limited Partner (LP), adding an institutional investor from the engineering sector to its LP base.
Lavni plans to write initial cheques of Rs 2-6 crore at the seed stage and reserve Rs 8-15 crore for follow-on investments, including fresh Series A rounds and later stages.
The fund has already made three investments in menstrual hygiene management startup PadCare Labs, medtech startup Monitra Healthcare and medical diagnostics company Vidcare.
Founded in 2020 by Vasu Guruswamy, Sanjay Kanvinde and Krishna Shivram, Lavni focuses on deeptech companies where the underlying technology has moved beyond the laboratory and is beginning to find commercial traction.