Pavestone's Technology Fund Closes at INR 816 Cr The fund aims to invest in early growth-stage B2B tech companies addressing challenges from emerging technologies like AI, immersive reality, cloud computing, and advanced engineering, while also considering trends like digitalization and ESG.

Hyderabad-based venture capital firm Pavestone has successfully announced the final close of its Pavestone Technology Fund, securing an impressive INR 816 crore—well above its initial target of INR 600 crore. The fund's corpus was increased twice through the greenshoe option due to strong demand and investor interest.

The fund has attracted a notable roster of investors, including the Self-Reliant India (SRI) Fund, the family office of Mankind Pharma promoters, and Colruyt Group India, among others.

V Laxmikanth, Managing Partner at Pavestone, said, "We're delighted with the final close exceeding our initial target, and we are grateful for the support and trust of our investors. This outcome reflects our vision and commitment to rigorous analysis and strong governance in our investment approach."

Pavestone's managing partners—Sridhar Rampalli, Srikanth Tanikella, and V Laxmikanth—bring decades of experience in technology, venture capital, and strategic growth. Their fund focuses on early growth-stage B2B technology companies that tackle critical challenges for large public and private enterprises.

The fund is particularly interested in companies with proven market traction, product-market fit, and strong client partnerships. Additionally, it selectively invests in early-stage ventures working on transformative technologies.

To date, the Pavestone Technology Fund has backed five companies, including E42, Bellatrix Aerospace, LivNSense, NewSpace Research & Technologies, and Cynlr. With its final close, the fund is poised to drive substantial growth in India's B2B and enterprise technology sectors, focusing on emerging technologies like applied AI, cloud computing, immersive reality, and more.