Navy Veteran Navneet Kaushik Floats Early Stage Fund To Back Defence Tech Startups

SUMMARY

The Jamwant Venture Fund will operate as a Category I Angel Fund AIF

The fund aims to identify and nurture groundbreaking initiatives that have the potential to transform the landscape of defence technology in India

Kauhsik claims to have guided 20 startups at the India Innovation Growth Program in Boston, USA

Former director at Technology Development Board (TDB) Navneet Kaushik has rolled out an angel fund to back early-stage tech startups in the defence space.

The Jamwant Venture Fund will operate as a Category I Angel Fund AIF.

With a strategic focus on fostering innovation and indigenisation in the defence sector, the fund aims to identify and nurture groundbreaking initiatives that have the potential to transform the landscape of defence technology in India, said a statement.

“We aim to be at the forefront of building a robust ecosystem that supports the growth of indigenous defence capabilities, contributing significantly to our nation’s self-reliance in defence technologies,” Kaushik said.

With over 22 years of service in the Indian Navy and the government, Kaushik has spearheaded many customer-centric technology projects and is known for his adept negotiation tactics with international stakeholders across various regions including South America, Southeast Asia, the Middle East, Europe and Africa.

He has also played an instrumental role in advancing the board agenda to fund innovative technology and indigenization projects, leading to strategic investments in companies such as QuNu Labs, Bharat Biotech, Botlab Dynamics (pioneers in indigenous drones), Mylabs, and Biological E.

Furthermore, he claims to have guided 20 startups at the India Innovation Growth Program in Boston, USA, leveraging his expertise as an ecosystem expert while representing the Department of Science and Technology.