Chetan Mehta
Founding Partner
Founder and investment selection; current personal role from October 2022.
LinkedIn profile ↗India / Direct investor
India-focused frontier technology, connected globally.
ADGM Fund I and India Innovation Fund II.
Connect NowInitial cheque · current thesis$750,000-2 million
Fund II target · not final close₹750 crore
Entry stagePre-seed & Seed
Public portfolio history24 distinct identities
01 / The fund
Indian founders, proprietary technology and global markets
AUM Ventures backs Indian founders building IP-led technology for global markets. Its current mandate covers semiconductors, space and aerospace, vertical and edge AI, defence, robotics, energy, bioscience and materials, alongside fintech and consumer technology. The earlier consumer and software investments remain visible below rather than being relabelled deeptech. India focus does not mean every portfolio company or vehicle is India-domiciled.
The current manager thesis gives $750,000-2 million initial cheques at pre-seed and seed. Fund II aims to back 25-30 companies, with follow-ons through Series A/B. Its ₹750 crore target is not a completed raise. August 2026 first-close reporting and the manager newsroom say ₹225 crore; a later Business Standard interview on 15 October 2026 says ₹250 crore had been raised and March 2027 was the target for final close. Those dated states are kept separate rather than representing either as a final close.
The manager identifies Fund I as AUM VC FUND LP, ADGM registration 000007729 dated 5 June 2022, with manager Assets Under Management Ventures Ltd, Category 3C. Fund II is AUM VENTURES INVESTMENT TRUST - SCHEME II, SEBI Category II AIF IN/AIF2/25-26/2048 dated 16 February 2026, managed by AUMVC INDIA PARTNERS LLP. A separate AUM Ventures DE II LP, managed by AUM Ventures DE Management LLC, is also disclosed. Legal registration is not proof of funds raised.
The maiden fund was launched publicly in November 2022. Later reporting describes first close in April 2023 and final close in 2025. Reports call it a ₹200 crore or roughly $30 million fund and describe about $30 million deployed with co-investing LPs. These are dated and differently defined figures, not an exchange-rate conversion or proof that all deployment came from fund capital alone. No audited return or current available-capital claim is made here.
India DeepSpark is an investment-sourcing programme, not another fund or a guaranteed grant. Its current 2026 page offers up to $1 million to selected pre-seed startups; the page reports $625,000 invested through the first edition. Partner incubator logos are ecosystem relationships, not LP commitments.
Current thesis ↗ · Legal fund disclosure ↗02 / Portfolio
Explore by sector
24 distinct public identities: all 19 names represented by the current manager grid, plus five historical names from the November 2022 ADGM launch. Responsive duplicates and Latent AI's second sector appearance are counted once. Smiles.ai/Dezy, MyWays.ai/Zeko AI and OXG Space/OrbitalGrid are reconciled, not extra holdings. Sharang Shakti is explicitly exited; off-grid history is not assumed to be current. The resulting 24 identities do not prove an exhaustive private 24-company Fund I schedule: the public list now includes Fund II's OXG investment and does not assign every holding to a vehicle.
Six space platforms and components are Space Tech; Azimuth AI is Semiconductors; Sharang Shakti's counter-drone systems are Physical AI. Latent AI makes edge-AI software, not chips, so stays in Others. Medical assistants and dental clinics also stay in Others; Helogen is classified Space Tech for orbital research infrastructure rather than being counted twice as BioTech. No holding is called Quantum or Energy & Materials simply because the fund targets those sectors.
Every company own site was inspected on 2 November 2026. FirstSense's original site only says Coming Soon, so its historical source is used instead. Four historical name labels are qualified fallbacks, not original logos. The XO mark is Esports XO, not the unrelated listed XD Inc company in an external database.
Physical AI 1
Counter-drone and radar systems. Manager explicitly marks the investment exited; acquired by LAT Aerospace. The live mission site does not imply a continuing fund stake.
Own site checked 2 November 2026.
Holding source ↗Semiconductors 1
Custom AI system-on-chip design for next-generation computing. Semiconductor design, not merely AI application software.
Own site checked 2 November 2026.
Holding source ↗Space Tech 6
Small-satellite launch vehicles and space transportation, including the Vikram rocket family.
Own site checked 2 November 2026.
Holding source ↗
In-orbit satellite servicing and space-debris removal systems.
Own site checked 2 November 2026.
Holding source ↗
Automated satellite laboratories and microgravity research infrastructure for life sciences and biomanufacturing. Classified Space Tech for its orbital lab platform; a biological drug portfolio is not inferred.
Own site checked 2 November 2026.
Holding source ↗
Positioning, navigation, timing and communication systems for autonomous users, including a proposed satellite constellation.
Own site checked 2 November 2026.
Holding source ↗
Satellite attitude-control hardware, including reaction wheels, star trackers and torque rods. These control where a spacecraft points.
Own site checked 2 November 2026.
Holding source ↗
Orbital relay and in-space computing network for Earth-observation satellites. Current manager labels OrbitalGrid beside an OXG mark; the company and October2026 announcement use OXG Space. Counted once.
Own site checked 2 November 2026.
Holding source ↗Others 16
AI medical assistants for clinical documentation, patient coordination and healthcare administration. Medical workflow software stays in Others, not drug discovery.
Own site checked 2 November 2026.
Holding source ↗
Edge-AI development and deployment software for running models efficiently on constrained hardware. Its own site describes software tooling and model optimisation, not manufacturing chips or robots.
Own site checked 2 November 2026.
Holding source ↗
AI-assisted sales coaching, conversation analysis and revenue-team training software.
Own site checked 2 November 2026.
Holding source ↗
AI model evaluation, prompt optimisation and observability tools for teams running language-model applications.
Own site checked 2 November 2026.
Holding source ↗
AI-assisted interviewing, adaptive candidate assessment and hiring software. The MyWays.ai parent launched Zeko AI; the earlier education/recruitment investment and current product are one relationship, not two.
Own site checked 2 November 2026.
Holding source ↗
Fast-fashion brand and retail platform for younger consumers. Commerce, not deeptech because it uses data.
Own site checked 2 November 2026.
Holding source ↗
Dental clinics and treatment services. Formerly Smiles.ai; retained as one consumer healthcare identity, not a biotechnology platform.
Own site checked 2 November 2026.
Holding source ↗
Payment orchestration, settlement and reconciliation software for enterprises and financial operations.
Own site checked 2 November 2026.
Holding source ↗
Transfer-agency and digital operations infrastructure for investment managers, distributors and investors.
Own site checked 2 November 2026.
Holding source ↗
Esports tournament, gaming-community and brand-campaign infrastructure. Not XD Inc, the unrelated listed games publisher.
Own site checked 2 November 2026.
Holding source ↗
Personal hygiene and grooming consumer products. Historical spelling Swish is reconciled to the primary manager/ADGM Svish identity.
Own site checked 2 November 2026.
Holding source ↗
Building-materials sourcing, custom manufacturing and supply-chain platform. The former myglobalfair.com route now redirects to this GlobalFair site.
Outside the current manager grid. Current holding/exit status not independently established. Name label, not an original logo.
Holding source ↗
Period-care and feminine-hygiene consumer products. Reusable menstrual products do not by themselves make this a biotechnology platform.
Outside the current manager grid. Current holding/exit status not independently established. Name label, not an original logo.
Holding source ↗
Micromobility services including shared electric scooters and other urban transport. An electric-vehicle service is not automatically an advanced battery or robotics developer.
Outside the current manager grid. Current holding/exit status not independently established.
Holding source ↗
Social learning platform for students, including quizzes, shared notes and peer learning.
Outside the current manager grid. Current holding/exit status not independently established. Name label, not an original logo.
Holding source ↗
Historical AI/video-analytics company named in the 2022 launch. The linked firstsense.tech domain currently shows only Coming Soon, so no current product claim or guessed replacement destination is used.
Outside the current manager grid. Current holding/exit status not independently established. Name label, not an original logo.
Holding source ↗Separate earlier and personal experience
Chetan's biography says his previous family-office work covered 60+ startups and his personal angel investments 40+. It names Smiles.ai, LenDenClub, ChargeZone, Waterfield Advisors, ShareChat, Sourcewiz, Rapidbox and Cogos in India; eToro, Immunai, Antidote, H2Pro, Arbe Robotics, Binah.ai and Goarc in Israel; Verofax and Altibbi in the GCC; and SpaceX, Rho Banking, Shef, Capsule and Daily Harvest in the US. Only identities separately supported as AUM fund relationships enter the portfolio above. A familiar founder, adviser or past employer does not establish a current fund holding.
Anurag's earlier Z47/Matrix investments, Nisha's family-office work, and the team's prior firms are not reassigned to AUM. Helogen's acquisition of Vellon Space does not create a second separately evidenced AUM investment. Named co-investors and later-round investors in portfolio companies are not automatically fund LPs.
Manager biographies ↗03 / Team & connect
Investment team
Nisha Shah
General Partner
Investments, venture partnerships and fundraising; current personal GP role from June 2025.
LinkedIn profile ↗
Anurag Srivastava
Investments Principal
Deeptech investment selection, with earlier operating and Z47 experience; current personal role from October 2026.
LinkedIn profile ↗
Nidhi Shetty
Investments
Deeptech sourcing, evaluation and portfolio work; current personal role from February 2024.
LinkedIn profile ↗
Saloni Chaturvedi
Associate
Early-stage investments; current personal Associate role from March 2026.
LinkedIn profile ↗
Aditi Chilakapati
Analyst
Sourcing and due diligence in space, defence, materials, semiconductors and energy; current personal Analyst role from September 2025.
LinkedIn profile ↗
Suhas S.
Investments
Early-stage deeptech investments, sourcing and sector research; current personal role from September 2026.
LinkedIn profile ↗Seven current investment contacts checked against their own personal experience on 2 November 2026; official portraits visually matched their personal profile photos. Anurag joined inOctober 2026 and Suhas in September 2026. Saloni personally lists Associate and Aditi Analyst, more specific than generic manager labels. Nisha is retained because her manager and personal role confirm investments alongside partnerships and fundraising. Darshini is finance, investor relations and operations only, so excluded. Strategic advisers are not shown as core investment contacts.
Official pitch route ↗04 / Fund network
Limited partners
No individually named outside LP commitment was established in the public sources checked. Fund I reporting describes international family offices, entrepreneurs and high-net-worth investors; a 2022 anchor was described only as a prominent family office. The manager reports more than 65% international commitments at Fund II's August 2026 first close, with domestic family offices and high-net-worth investors also joining. Those categories do not identify people or institutions for guessed cards or portraits.
October 2026reporting says AUM was approaching institutional and government-backed investors, including SIDBI's Fund of Funds and the RDI fund. It says the firm had not applied in the RDI fund's first window. Outreach or a planned application is not a commitment, so neither SIDBI nor RDI is presented as an LP.
Wami Capital and the Narotam Sekhsaria Family Office are prior employer relationships in team biographies, not independently established LP subscriptions. GIC, Temasek, Accel and Cyient Semiconductor appear as later investors in portfolio companies, not proven LPs in AUM. DeepSpark ecosystem partners and strategic advisers are not LPs solely because their logos or biographies appear on the manager site.
Undisclosed does not mean absent. Checked 2 November 2026; no complete LP register is claimed.
Latest dated fundraise interview ↗