India-focused private markets investment platform Novastar Partners has made its maiden investment in A Junior VC (AJVC), an early-stage venture capital fund founded by Aviral Bhatnagar.
The investment marks the beginning of Novastar Partners’ broader strategy to build a diversified portfolio of high-quality funds and private businesses across India’s private markets, with a focus on technology and tech-enabled businesses.
Through the investment, Novastar Partners will support AJVC’s continued deployment across India’s pre-seed ecosystem. At the same time, the investment gives Novastar’s investors curated exposure to companies operating at the earliest stages across sectors such as artificial intelligence, healthcare, deep tech, consumer technology and brands.
Novastar’s Focus on Pre-Seed Investing
Novastar Partners said its investment approach is based on identifying differentiated fund managers with a clear investment edge and building a platform that can participate in India’s long-term growth through curated exposure to private funds and companies.
Dhruv Jhunjhunwala, Founder and Managing Partner of Novastar Partners, said the firm believes a programmatic approach to pre-seed investing can be effective because a small number of outsized winners can generate the majority of returns.
“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. It is particularly relevant to India, where the startup ecosystem continues to deepen across emerging sectors and technologies. AJVC stood out for pursuing this investment strategy, and we believe Aviral is uniquely positioned to execute it given his deep network within the early-stage founder ecosystem. We are proud to be the only fund-of-funds in India to have backed AJVC,” Jhunjhunwala said.
Novastar Partners said its investment in AJVC is aimed at gaining exposure to India’s next generation of technology-led companies while supporting a fund manager focused on investing at the earliest stages of a startup’s journey.
AJVC’s Tech-Driven Pre-Seed Strategy
Founded by Aviral Bhatnagar, AJVC has built a programmatic and technology-driven approach to pre-seed investing in India.
Bhatnagar brings nearly a decade of early-stage investing experience, including his previous role at Venture Highway. His network among early-stage founders is a key part of AJVC’s sourcing strategy.
AJVC has a corpus of approximately Rs 165 crore and has backed more than 35 companies so far. The fund plans to invest in more than 85 companies over the course of its life.
The fund has also focused on building a broad pipeline of early-stage startups. According to Bhatnagar, AJVC has engaged with more than 25,000 teams in less than two years.
“We are excited to have Novastar Partners onboard as an early supporter in AJVC’s journey to build a premier pre-seed platform for India. The team has trusted our unique, tech-driven approach, which has allowed us to engage with more than 25,000 teams in less than two years. We’re looking for an enduring partnership with Novastar,” Bhatnagar, Founder and Managing Partner of AJVC, said.
Exposure Across Emerging Sectors
Novastar Partners’ investment gives its investors exposure to AJVC’s portfolio of companies at the pre-seed stage.
AJVC’s investment focus covers sectors including artificial intelligence, healthcare, deep tech, consumer technology and brands. The partnership is therefore positioned around early-stage businesses that are using technology or new business models to address emerging opportunities in India.
Novastar said it intends to continue identifying fund managers and private companies that can provide differentiated exposure to India’s technology-led growth.
About Novastar Partners
Novastar Partners is an India-focused private markets investment platform founded by Dhruv Jhunjhunwala. It is registered with SEBI as ‘Dhruva Investment Partners’, a Category II Alternative Investment Fund bearing registration number IN/AIF2/25-26/1939. The firm provides curated exposure to India’s private market opportunities through investments across leading private equity and venture capital funds, along with selective direct investments in high-quality private companies. Its focus is on technology and tech-enabled businesses. For more information, Novastar Partners can be accessed at novastarpartners.com.
About AJVC
AJVC is an early-stage venture capital fund registered with SEBI as a Category II Alternative Investment Fund bearing registration number IN/AIF2/24-25/1578. The fund is focused on pre-seed investing in India and has developed a programmatic, technology-driven approach to supporting startups from their inception. AJVC was founded by Aviral Bhatnagar, who has spent more than a decade backing startups at the earliest stages of their development. For more information, AJVC can be accessed at ajuniorvc.com.
-By Shivani Solanki
