New Delhi, Sept. 22 -- Deeptech-focused venture capital firm Lavni Ventures has hit the Rs 200 crore ($20.8 million) base target for its second fund, a year after making its first close in August 2025, while retaining a Rs 100 crore greenshoe option.
Lavni Ventures Fund II is focused on foundational technologies in healthcare and climate, with the firm looking to back Indian deeptech founders developing solutions with global applications, it said in a statement.
The VC firm has also brought institutional investors into the vehicle. Quest Global Engineering Services committed capital as a limited partner, adding an industrial and engineering player to the fund's investor base.
The firm plans to deploy Rs 2-6 crore per company at the seed stage, with follow-on investments of Rs 8-15 crore across fresh Series A rounds and later stages.
The fund has made its first three investments in PadCare Labs, Monitra Healthcare and Vidcare. PadCare Labs is focused on recycling sanitary waste, while Monitra Healthcare develops remote cardiac monitoring devices and Vidcare works on portable at-home diagnostic tests.
Founded in 2020, Lavni Ventures was set up with a focus on backing deeptech businesses that combine financial returns with impact. The VC firm is led by Vasu Guruswamy, Sanjay Kanvinde and Krishna Shivram, who are co-founders and general partners.
Lavni said its investment focus is on companies where the underlying science or technology has moved beyond the laboratory and is beginning to gain commercial traction.
"We look for deep science that has cleared the lab and where the solution is meeting its first real customers," Kanvinde said, adding that this stage remains underserved by capital in India.
Published by HT Digital Content Services with permission from VC Circle.