Sridhar Rampalli
Managing Partner & CIO
Investment strategy and portfolio decisions; former Parampara co-founder.
LinkedIn profile ↗India / Direct investor
Enterprise growth, with room for frontier engineering.
India-based B2B technology investor with a separate early-stage frontier-tech allocation.
Connect NowEnterprise investment$5M-$10M
Frontier investment$1M-$2M
Reported final closeINR 816 crore
Published identities11 + 15 prior
01 / The fund
Two investment lanes, not one blanket cheque
Pavestone Technology Fund backs early growth-stage B2B enterprise platforms and products with market traction, product-market fit and anchor clients. Its current official mandate states a typical investment of $5M-$10M in this lane. It separately makes selective seed and early-stage investments in frontier technologies based on scientific or engineering innovation, with a typical $1M-$2M investment. These are manager-stated investment ranges, not a claim that every first cheque is the same size.
The fund reported its final close at INR 816 crore in November 2024. Earlier INR 600 crore and INR 900 crore figures are fundraising targets rather than the final closed corpus. The site identifies a Category I AIF, registration IN/AIF1/21-22/0900, managed by Pavestone Advisors and Consultants LLP. The mandate spans applied AI, compute, digital infrastructure and engineering-led opportunities, rather than claiming every holding is deep tech.
The official portfolio distinguishes 11 current portfolio identities from 15 prior partnerships linked to the team’s earlier investment and operating history. The latter are not relabeled as investments of Pavestone Technology Fund, and an acquisition is not treated as proof of a specific fund’s exit proceeds.
Current official mandate ↗ · November 2024 final close ↗02 / Portfolio
Explore by sector
All 26 published identities: 11 in the current portfolio and 15 separately labeled prior partnerships. Desktop/mobile duplicates are removed. Each card preserves the manager’s relationship label. Own-site products were checked; historical or unavailable destinations carry explicit notes rather than an invented active-holding status.
Satellite propulsion is Space Tech. Robots, drones, connected appliances and physical educational systems are Physical AI. AI-compute chips and chip-verification tools are Semiconductors. Pollution-control and industrial chemicals are Energy & Materials. Industrial AI software, lending, enterprise software, IT services, scientific distribution and education software remain Others.
Energy & Materials 2
Retrofit emission-control devices and dual-fuel systems for diesel generators, alongside pollution-control and material-science work.
Holding source ↗
Industrial and life-science ingredients including curcumin, tocopherols, phytosterols and ion-exchange resins; current product scope is chemicals rather than a drug-development claim.
Holding source ↗Physical AI 5
Vision-guided robotic systems that perceive and manipulate unfamiliar objects, including dual-arm and mobile multi-arm industrial robots.
Holding source ↗
Autonomous uncrewed aircraft, swarm systems and cyber-physical platforms for aerospace, defence and civilian missions.
Holding source ↗
Smart consumer appliances including energy-efficient fans, mixer grinders and water purifiers, combining electronics, motor engineering and connected controls.
Holding source ↗
Electronics and appliance manufacturing, including televisions and other home/consumer electronics, within the LCGC Resolute group.
Holding source ↗
Interactive physical learning toys and augmented-reality educational systems for children.
Holding source ↗Semiconductors 2
Composable AI-compute hardware using CPU and AI cores, shared memory, chiplets and a supporting software stack across edge and datacentres.
Holding source ↗
AI-driven semiconductor-design verification and debug tools: VeScale finds design bugs and Vulcan speeds investigation and re-validation of fixes.
HTTP own site verified after HTTPS failed. Current VeScale and Vulcan product descriptions checked on the working company page.
Holding source ↗Space Tech 1
Electric and green chemical satellite thrusters, water-powered plasma propulsion and orbital-transfer platforms for in-space mobility.
Holding source ↗Others 16
Retail-intelligence and route-to-market software for consumer brands, covering distribution, sales execution and AI-assisted decisions.
Holding source ↗
No-code enterprise process-automation software using AI co-workers, document processing and conversational AI across business functions.
Holding source ↗
Industrial AI and digital-twin software for plant efficiency, emissions and energy optimisation. Software-led decarbonisation, not a materials manufacturer.
Holding source ↗
Enterprise debt and mid-market credit business. The current company site notes an NBFC-business transfer effective 1 April 2026; the historical portfolio identity is retained.
Holding source ↗
Enterprise procurement software with AI agents for sourcing, negotiations, contracts, invoices and supplier onboarding.
Holding source ↗
AI-native lending software for banks and NBFCs, covering loan origination, management and supply-chain finance.
Holding source ↗
Digital lending and debt-market infrastructure spanning lending operations, credit evaluation, asset monitoring and collections.
Holding source ↗
Immersive educational content and adaptive learning for school students. Practically is the 3rdFlix brand; the current homepage could not be loaded in this review.
Homepage unavailable during review; official brand-about page confirms Practically is 3rdFlix.
Holding source ↗
Cybersecurity software for attack-surface monitoring, external threat intelligence and AI-infrastructure exposure detection.
Holding source ↗
Laboratory instruments, consumables and analytical-testing support. Classified as scientific distribution/services, not automatically biotechnology.
Manager supplies no destination; matching laboratory-instrument catalogue used, not the unrelated Firstsource BPO.
Holding source ↗
Enterprise applications, systems integration and IT services. The matching company site identifies Dhanush Healthcare Systems as formerly Dhanush InfoTech.
Corrected manager destination: dhanush.com currently identifies a different Danush Systems business.
Holding source ↗
Human-insights software for emotion, attention and behaviour research, creative testing and consumer/user research.
Holding source ↗
Structural-concrete engineering and documentation software including RCDC. Acquired by Bentley in 2018; retained only as a prior partnership.
Legacy site unavailable. Link opens the 2018 acquisition statement, not an active independent-company claim.
Holding source ↗
Cloud-based time, attendance and workforce software with biometric-device integration. ADP acquired Securax in January 2023; retained as a prior partnership.
Old Securtime site returned 404; link opens ADP’s acquisition statement.
Holding source ↗
Enterprise cybersecurity, cloud, data and high-performance-computing services. Current own site identifies the business as SHI India, formerly Locuz.
Now SHI India; own-site rebrand preserved without inferring fund exit proceeds.
Holding source ↗
Enterprise voice AI agents and omnichannel conversational software for inbound/outbound calls and customer workflows.
Holding source ↗03 / Team & connect
Investment team
Srikanth Tanikella
Managing Partner
Enterprise technology, operating scale and growth-stage investing.
LinkedIn profile ↗
V. Laxmikanth
Managing Partner
Enterprise and frontier technology with product and leadership experience.
LinkedIn profile ↗
Pulkit Dak
Principal
Investment process, deal evaluation and portfolio work; manufacturing-founder background.
LinkedIn profile ↗
Neetin Agrawal
Principal
Enterprise and deep-tech investment thesis and founder support.
LinkedIn profile ↗
Siddhartha Dubey
Investment Team
B2B enterprise technology and deep-tech investments.
LinkedIn profile ↗
Shramay Jha
Investment Team
Early and growth equity investments in enterprise and deep technology.
LinkedIn profile ↗
Harsh Vijay
Senior Investment Analyst
Deep-tech and enterprise-tech investing; current personal profile and manager event post corroborate the role.
LinkedIn profile ↗
Manikandan N
Founding Partner & Sponsor
Founder and investment experience across industrial, health and technology businesses. Sponsor status is separate from a named external LP commitment.
Official biography ↗
Sridhar Balasubramanian
Founding Partner & Sponsor
Industrial and pharmaceutical business experience; current partner identity verified. Sponsor role is separate from a named external LP commitment.
LinkedIn profile ↗Eight current investment contacts, including Harsh Vijay, whose current personal profile and a manager investment-team post supplement the older official grid. Two founding partners/sponsors are separately labeled. Nine personal profiles were checked; no matching personal profile was verified for Manikandan, so his portrait opens the official biography. Sai Manohar’s current personal experience says CFO, superseding the site’s older finance-and-investments role; he and investor relations are excluded from investing contacts.
Official contact route ↗04 / Fund network
Limited partners and named backers
Three named backer identities, separate from the investment team and sponsor biographies. Colruyt’s own release confirms its commitment. SRI Fund and the Mankind promoters’ family office are named in final-close reporting. This is not a complete LP register.
Colruyt Group India ↗
Strategic institutional investor
Its own 14 June 2024 release confirms an INR 150 million (INR 15 crore) commitment to Pavestone Technology Fund. Commitment is not relabeled as fully disbursed capital.
Commitment source ↗Self-Reliant India (SRI) Fund ↗
Government-backed fund of funds
Named LP in November 2024 final-close reporting. SBI Ventures’ official description verifies the fund-of-funds structure; no Pavestone-specific cheque amount was verified.
Commitment source ↗Mankind Pharma promoters’ family office ↗
Family-office backer
Named in November 2024 final-close coverage. The precise family-office legal entity and individual members are not specified, so the listed pharma company and individual promoters are not substituted as LPs.
Commitment source ↗The unnamed Mankind family-office entity links to the naming source, not an invented individual LP. Missing portraits are left blank. No additional commitment is inferred from a team member’s historical LP role in another fund. Research checked 2 November 2026.