Java Capital, a deep tech venture capital fund, has announced the final close of Rs 50 crore (approximately $6 million) fund. The fund saw participation from established founders from the Indian startup ecosystem, HNIs based in India, Middle East and the US.
With this closing, Java Capital plans to open a greenshoe portion of Rs 25 crore, responding to sustained interest from Limited Partners (LPs).
Started by Bhargavi V, Karteek Pulapaka and Vinod Shankar, Java Capital is a pre-seed/seed stage fund which plans to build a portfolio of 15-20 startups in deep tech, climate tech, and B2B.
The fund has already made 5 investments in companies, including AuditCue, Okulo Aerospace, Oorja, Pre-image, and Frigate.
Java has previously invested in companies such as Agnikul Cosmos, The Eplane Company, Cynlr, KUKU FM, Eat Better, Codingal, YellowMetal. The fund has doubled down on some of these companies.
In December last year, seed-stage fund Java Capital had launched its first fund with a corpus of Rs 75 crore (about $9 million). The fund includes a green shoe option of Rs 25 crore.