Navam focuses on early-stage investments in frontier technologies and science-driven innovation. It’s largely backed by domestic capital, with commitments from family offices, corporate groups, ultra-high-net-worth individuals, and technology founders.
Prior to founding Navam, Mantri worked at New York-based VC firm Lux Capital, where he focussed on investments in climate tech, biotech, and advanced materials. He is also the cofounder of the biopharma venture Vyome Therapeutics.
“The fund typically writes first cheques of Rs 5-8 crore at the seed and pre-series A stages (early stages), while keeping capital aside for follow-on rounds,” Mantri said, adding that Navam also selectively participates in series A and series B rounds (growth capital) to maintain stage diversity in its portfolio.
The fund’s portfolio spans advanced computing, semiconductors, robotics, drones, spacetech, industrial automation, enterprise AI, climate tech, and materials science. Its investments include companies such as Agnikul Cosmos, Ather Energy, Morphing Machines, and Unbox Robotics, which recently raised $28 million.
Mantri said Navam is particularly bullish on spacetech and semiconductors, sectors that align closely with India’s talent base and strategic priorities.
“India has a large share of global chip design talent, and in spacetech, the ecosystem is finally opening up beyond government programmes. Both sectors also have strong policy support, which makes them very attractive,” he said, and added,
“India today offers a rare convergence of world-class engineering talent, deepening capital markets, and cost-efficient R&D.” “We are backing founders building IP-rich platforms and products invented in India for global customers.”
