Ex-NDA and TDP Director, Navneet Kaushik, has announced the launch of Jamwant Venture Fund, an alternative investment fund with a strategic focus on defence investments. The fund has obtained approval from the Securities and Exchange Board of India (SEBI) to operate as a Category I AIF.
Headed by Navneet, Jamwant Venture Fund, classified as an angel fund under AIF regulations, aims to contribute significantly to the growth and development of indigenous defence technologies.
In simple words, Jamwant Venture Fund is a Category I AIF, specifically structured as an angel fund to facilitate early-stage investments in promising defence technology start-ups. With a strategic focus on fostering innovation in the defence sector, the fund aims to identify and nurture groundbreaking initiatives that have the potential to transform the landscape of defence technology in India, according to a company statement.
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Kaushik said, "Our focus is on identifying and nurturing innovative defence technology start-ups that align with India's strategic needs. We aim to be at the forefront of building a robust ecosystem that supports the growth of indigenous defence capabilities, contributing significantly to our nation's self-reliance in defence technologies."
With over 22 years of distinguished service in the Indian Navy and the Government of India, Kaushik has demonstrated a remarkable ability to drive organisational effectiveness and spearhead customer-centric technology projects from inception to fruition, according to a company statement.
Kaushik’s leadership also helped advance the board agenda to fund innovative technology and indigenisation projects, leading to investments in companies such as QuNu Labs, Bharat Biotech, Botlab Dynamics (pioneers in indigenous drones), Mylabs, and Biological E.
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