Groww’s cofounders are launching a new fund targeting ₹400 crore to ₹500 crore to invest in seed and early-stage startups in the consumer internet and deeptech sectors, according to inc42.com. The fund, operating under the Stargazer AIF, will be backed entirely by the cofounders’ personal capital with no external limited partners. It aims to deploy its corpus over the next two to three years with larger cheque sizes than its previous ₹65 crore fund.
The fund will be managed by Groww’s CEO Lalit Keshre, CFO Ishan Bansal, COO Harsh Jain, and CTO Neeraj Singh, who will act as general partners. A dedicated team is being established to handle sourcing, due diligence, and portfolio management under the founders’ supervision. The first Stargazer fund supported startups like premium ecommerce platform FirstClub, fashion quick commerce startup Zilo, voice AI platform Ringg AI, and nanorobotics startup Theranautilus.
This new fund marks a shift towards increased focus on deeptech startups alongside consumer internet ventures. The inaugural fund had a maximum ticket size of ₹5 crore, but the new vehicle plans to write larger cheques. The move reflects growing investor interest in deeptech sectors such as AI-native regtech and healthcare technology, which were part of the earlier portfolio, signaling a strategic expansion in Groww’s investment approach.
The fund’s launch builds on the Stargazer AIF, which was initially created in 2023 to formalize the cofounders’ angel investment strategy. The new fund is expected to significantly scale up investments in the next two to three years, with the cofounders leveraging their personal capital to back promising startups in India’s evolving tech landscape.