India, Aug. 10 -- Deeptech focused early-stage VC firm AUM Ventures has marked the first close of its India Innovation Fund II at Rs.225 Cr (about $23.6 Mn).

The fund has a target corpus of Rs.750 Cr ($80 Mn) and will primarily invest at the pre-seed and seed stages across deeptech and frontier technology sectors.

The firm claimed that it received over 65% of commitments coming from international limited partners (LPs) across the US, the West Asian market and other global markets.

It will primarily invest at the pre-seed and seed stages, with initial investments typically ranging from $750K to $2 Mn. The firm also intends to reserve a significant capital for follow-on investments through Series A and Series B. Over its lifecycle, the f...