Novastar Partners Backs Pre-Seed Venture Capital Fund AJVC

Investment firm Novastar Partners has made a significant investment in Indian venture capital firm AJVC. The company announced it is becoming a limited partner (LP) in AJVC, though the exact financial details of the investment have not been disclosed.

AJVC was founded in 2024 by Aviral Bhatnagar and focuses on pre-seed stage companies. The fund closed its maiden fund at ₹200 crore (approximately $2.4 million USD) last year. To date, AJVC has made 32 investments in early-stage startups, including Iztri, Handy Panda, and Mindcase.

The firm typically invests approximately ₹1.5 crore (around $180,000 USD) for a 9% equity stake in pre-seed companies. AJVC also provides operational support, assisting with product refinement, hiring strategies, sales, marketing, and financial operations.

Novastar Partners, which is building a private equity fund-of-funds, plans to support AJVC and its portfolio companies by facilitating follow-on funding rounds, providing networking opportunities, and offering direct operational assistance. Novastar cited AJVC's investment strategy, tech-led sourcing, and Bhatnagar's network as key reasons for backing the fund.