Pavestone VC, a prominent venture capital firm based in Hyderabad, has successfully closed its Pavestone Technology Fund at a final corpus of Rs 816 crore (approximately $97 million). This marks a significant milestone for the firm, surpassing its original target of Rs 600 crore, thanks to increased investor demand and a greenshoe option that allowed for two rounds of fund expansion.
The fund’s closing saw the participation of notable investors, including The Self-Reliant India (SRI) Fund, the family office of Mankind Pharma promoters, and Colruyt Group India. The latter had previously contributed Rs 15 crore (around $1.8 million) in June, further cementing their commitment to Pavestone’s investment strategy.
Focused on fostering the growth of technology companies, Pavestone VC aims to direct the funds towards 14-15 high-potential, growth-stage B2B technology firms. The firm’s investment strategy will center on providing an average cheque size of $5-10 million to these companies, primarily within the deeptech and enterprise technology sectors.
Founded in 2021 by Sridhar Rampalli, Srikanth Tanikella, and Laxmikanth V, Pavestone VC has quickly positioned itself as a key player in the venture capital space. The firm has already built a diverse portfolio, which includes innovative companies like E42, NewSpace Research & Technologies, LivNSense, and Bellatrix Aerospace.
With the final closure of the Pavestone Technology Fund, the firm is well-equipped to continue its mission of supporting the growth of cutting-edge B2B technology startups, further driving innovation across industries
