After spending years backing some of India’s most promising startups, former Mirae Asset Venture Investments India CEO Ashish Dave is preparing for his next chapter. According to sources, Dave is launching Sanskrit Capital, a new venture capital firm that is targeting a maiden fund corpus of ₹700 crore to ₹1,000 crore.
Sanskrit Capital will focus on Series B and Series C startups that have already established product-market fit and are entering the critical growth and scaling stage. The firm is expected to operate as a single-GP (general partner) fund and is reportedly close to receiving Sebi approval as an Alternative Investment Fund (AIF).
The new fund is likely to draw support from domestic family offices, entrepreneurs, and startup founders looking to participate in India’s next wave of high-growth companies.
Sources indicate that Sanskrit Capital plans to write investment cheques ranging between ₹50 crore and ₹150 crore, while also setting aside significant capital for follow-on investments in its highest-conviction portfolio companies.
While the fund will remain sector-agnostic, its investment strategy is expected to prioritise opportunities across fintech, consumer internet, logistics, healthcare, and enterprise AI applications—segments that continue to attract strong investor interest amid India’s evolving startup ecosystem.
Dave joined Mirae Asset Venture Investments in 2018 and played a key role in building the Korean investment firm’s venture capital presence in India. Before that, he spent three years at Kalaari Capital. He stepped down from Mirae Asset last year.
The launch of Sanskrit Capital comes at a time when several seasoned venture investors are setting up independent firms. Last month, former Peak XV Partners executives Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma unveiled Mettle Capital, a venture fund focused primarily on Series A and Series B startups, with selective investments at the seed stage.
Meanwhile, former Peak XV managing directors Shailesh Lakhani and Harshjit Sethi have launched Ambition Capital, which is targeting a $250 million fund dedicated to seed and Series A opportunities.
The emergence of these new funds reflects growing confidence in India’s startup ecosystem, even as investors increasingly look to support companies with proven business models and clear paths to scale.
