Novastar Partners makes first LP bet on AJVC

Novastar Partners, the fund-of-funds launched to give investors exposure to India’s private-market funds, has made its first Limited Partner (LP) bet with its investment in early-stage venture capital fund A Junior VC (AJVC). 

The AJVC investment is part of Novastar's broader private-markets strategy that combines fund investments with selective direct bets on private companies, particularly across technology and technology-enabled businesses.

The investment gives Novastar’s investors exposure to AJVC’s portfolio of pre-seed startups, while fitting into the platform’s broader strategy of backing fund managers with differentiated investment approaches.

Founded by Aviral Bhatnagar, AJVC manages a corpus of around Rs 165 crore and invests primarily at the pre-seed stage across artificial intelligence, healthcare, deeptech, consumer technology and brands. The fund has backed more than 35 companies and plans to invest in more than 85 companies over its fund life.

"We believe a programmatic investing approach, on the premise that a small number of outsized winners will go on to generate the majority of returns, is one of the most effective frameworks for pre-seed investing," said Dhruv Jhunjhunwala, founder and managing partner of Novastar, "It is particularly relevant to India, where the startup ecosystem continues to deepen across emerging sectors and technologies," he added.