Avetron Ventures, founded by Priyanka Madnani and Aakaashdeep, has announced the closure of its ₹2000 crore fund. The fund will focus on startups that want to go public within the next five years.
Both founders bring deep experience to the table. Priyanka earlier built and scaled Terex Ventures as founder and CEO. She now brings that expertise into Avetron, with a sharper focus on companies ready for rapid growth and public listings. Her co-founder Aakaashdeep shares the same vision and adds financial and operational expertise.
A Fund Designed for Scale and Speed
Avetron Ventures structured the fund as a multi-asset Category III Alternative Investment Fund (AIF) in GIFT City, Gujarat. This structure allows the team to create a flexible investment model. They can support startups through equity, debt, or hybrid structures depending on business needs.
The goal is clear: invest in companies that can scale fast, strengthen governance, and achieve IPO readiness within five years. Unlike traditional venture capital, which often waits a decade or more for exits, Avetron wants to create faster liquidity for investors and founders alike.
A Strong Base of Global Limited Partners
Avetron Ventures built the fund with backing from a diverse group of limited partners (LPs). These include family offices, institutional investors, and ultra-high-net-worth individuals (UHNWIs). The LPs come from across the UAE, the USA, and Japan.
This global capital base gives Avetron two advantages. First, it brings stability and long-term commitment. Second, it opens doors for Indian startups to expand into international markets. When LPs already operate across continents, portfolio companies gain access to networks, customers, and partnerships far beyond India.
Why Avetron Stands Out
The Indian startup ecosystem has seen dozens of new funds emerge. However, Avetron differentiates itself in three important ways:
- IPO-Focused Strategy
Most venture firms aim for exits through acquisitions or secondary sales. Avetron, on the other hand, places IPOs at the center of its strategy. The team believes India’s public markets now provide enough depth and maturity to absorb new-age companies. - Governance-Driven Approach
Avetron plans to work closely with founders on governance, compliance, and transparency. These factors often determine whether a company can list successfully. The team wants to prepare startups early so that IPOs do not face regulatory or structural roadblocks. - Global Network
With LPs across three continents, Avetron offers startups access to markets, mentors, and strategic partners worldwide. Few early-stage investors can match this global reach.
Target Sectors for Investment
Avetron will not spread itself thin across every sector. Instead, the team has chosen industries with both high growth potential and clear public market appetite.
1. Technology and SaaS
India has already produced global SaaS leaders like Zoho and Freshworks. Avetron wants to identify the next generation of enterprise software companies. The fund will focus on SaaS startups with recurring revenue, scalable platforms, and the ability to expand globally.
2. Fintech
Financial technology continues to drive inclusion and innovation in India. Avetron will look at companies that solve problems in payments, credit, insurance, and wealth management. The team believes fintech startups can quickly build large user bases and reach IPO scale.
3. Consumer Brands
As India’s middle class grows, demand for direct-to-consumer (D2C) brands continues to rise. Avetron sees opportunity in brands that scale beyond metros, reach Tier 2 and Tier 3 cities, and build loyal customer communities.
4. Renewable Energy and Sustainability
The global push toward sustainability creates both demand and government support. Avetron plans to invest in startups working in solar energy, EV infrastructure, waste management, and sustainable materials.
5. Healthcare and Life Sciences
Post-pandemic, healthcare innovation has gained momentum. Startups in telemedicine, diagnostics, biotech, and affordable healthcare delivery now have a chance to scale rapidly. Avetron believes the sector holds long-term public market appeal.
Investment Strategy and Ticket Size
Avetron Ventures will write checks between ₹50 crore and ₹200 crore per company. The firm plans to take significant minority stakes, allowing founders to retain control while still gaining strong institutional support.
The fund will invest in 15–20 companies over the next three years. The team wants to avoid a spray-and-pray approach. Instead, they prefer to back fewer companies but work deeply with each one.
In addition to capital, Avetron will provide strategic guidance, governance frameworks, and IPO preparation support. The firm wants to create a hands-on relationship with founders.
Why Timing Matters Now
India’s startup ecosystem stands at a turning point. In the last decade, more than 100 startups reached unicorn status. However, only a handful have successfully listed on stock exchanges.
At the same time, Indian capital markets have matured. Retail participation has increased, domestic mutual funds have grown, and global investors show appetite for Indian IPOs. As a result, the ecosystem now has both supply and demand for IPO-bound startups.
Avetron Ventures wants to seize this moment. The fund believes the next five years will see dozens of startups go public. By positioning itself now, Avetron hopes to capture early stakes in those future leaders.
The Founders’ Vision
Priyanka Madnani and Aakaashdeep bring complementary strengths.
- Priyanka Madnani
As the former founder and CEO of Terex Ventures, Priyanka scaled multiple companies and worked closely with founders on growth strategy. She understands the founder’s journey firsthand. Her belief in governance and transparency stems from her own experience preparing businesses for investors. - Aakaashdeep
Aakaashdeep brings financial expertise and a strong understanding of regulatory frameworks. He has worked with institutional investors and knows how to structure deals for long-term outcomes. Together, the duo combines entrepreneurial grit with financial discipline.
Their shared mission is to create a new generation of Indian public companies. They do not just want unicorns; they want companies that thrive in the public eye with sustainable governance and profitability.
Challenges and Risks
Every opportunity comes with risks. Avetron faces challenges in its journey:
- Market Volatility
Public markets can swing due to global events. Startups preparing for IPOs must stay resilient during downturns. - Regulatory Hurdles
India’s capital markets continue to evolve. Regulations may change, and startups must adapt quickly. - Founder Readiness
Not every founder dreams of running a public company. Avetron must choose partners who align with its IPO-driven philosophy.
Despite these risks, the team believes strong governance and patient capital can overcome obstacles.
Long-Term Outlook
Avetron Ventures does not view this ₹2000 crore fund as a one-off effort. Instead, the founders see it as the first step toward a larger financial ecosystem for IPO-ready startups.
They aim to build a reputation as the go-to fund for companies that want to scale and list. Over time, they plan to launch bigger funds, bring in more global LPs, and expand into cross-border listings.
In five years, Avetron envisions a portfolio of 15–20 listed companies that create wealth for investors, jobs for India, and global impact through innovation.
Conclusion
Avetron Ventures’ new fund represents more than just ₹2000 crore of capital. It represents a bold bet on India’s ability to produce world-class public companies.
By focusing on IPO readiness, governance, and global networks, the firm sets itself apart from traditional venture capital. With a strong base of international LPs and a clear strategy, Avetron positions itself to shape the next phase of India’s startup story.
For founders aiming to go public in the next five years, Avetron offers not just money but also the guidance and discipline needed to succeed in public markets. With Priyanka Madnani and Aakaashdeep leading the charge, Avetron Ventures looks ready to write the next chapter in India’s entrepreneurial journey.
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