MountTech Growth Fund (MGF-Kavachh), led by former Defence Secretary Ajay Kumar, aims to support startups in deep-tech and strategic sectors, focusing on indigenizing critical technologies for India’s national security and technological leadership. Kumar, who has significantly influenced India's technology and defence policies, serves as Founder and Chairman.
"India stands at a pivotal moment, with an unparalleled opportunity to leverage its strengths amid evolving global dynamics. MGF-Kavachh aims to catalyze this growth by focusing on local innovation and the indigenization of critical technologies in areas of national importance," stated Kumar.
MGF-Kavachh received SEBI approval in January 2024 and has quickly exceeded its planned corpus of Rs 250 crore, declaring its first close at over 100 per cent of the targeted amount. The fund will now use its green-shoe option for an additional Rs 250 crore before final closure.
The fund's Strategy and Oversight Board includes Air Chief Marshal RKS Bhadauria (Rtd.), Vice Admiral SN Ghormade (Rtd.), and Lt. General Anil Kapoor. The Advisory Council comprises experts such as Smita Purshottam, Gani Subramaniam, Manan Suri, Binay Kumar Singh, Ravi Singh, Arvind Lakshmikumar, Vinod Agarwal, Pratyush Kumar, and Vish Sahasranamam.
Raj Sethia, co-founder and Managing Partner, leads a skilled team, bringing a deep understanding of business, finance, and technology. “The Fund’s strategy is built on four pillars: rigorous gatekeeping, robust portfolio construction, a unique acceleration platform for its investees, and a razor-sharp execution focus,” said Sethia.
“Self-reliance in strategic sectors is an existential need for the country and a lucrative opportunity for investors,” shared Suryakant Dalmia, Co-Founder at MGF-Kavachh.
"MGF-Kavachh, with its focus, credibility, and platform, will be the first port-of-call for founders, co-investors, institutions, and ecosystem players,” added Abhinav Munshi, Co-Founder at Kavachh.
