Lavni Ventures Closes Rs 200 Crore Fund II to Back India's Health and Climate Deep-Tech Startups
Early-stage venture capital firm Lavni Ventures has reached the final close of Fund II, its second early-stage deep-tech impact fund, securing its full target corpus of Rs 200 crore, roughly $21 million, in committed capital, about a year after the fund's first close in August 2025.
Here's what makes this fund structurally interesting. Fund II retains a green-shoe option of Rs 100 crore, meaning Lavni can raise additional capital beyond the base fund size if investor demand supports it, potentially pushing the total corpus toward Rs 300 crore. The fund is a scheme of Lavni Ventures Trust, a SEBI-registered Category II Alternative Investment Fund, and it plans to deploy Rs 2 crore to Rs 8 crore per opportunity at the Seed to Series A stage, with Rs 8 crore to Rs 15 crore reserved for follow-on investments in later rounds.
The investment thesis is narrow and deliberate. Lavni focuses exclusively on foundational technologies in health and climate, science-led startups solving real, serious problems rather than digital convenience products, in sectors like medtech, edtech, cleantech and agritech. Fund II has already made its first three investments, Padcare Labs, which recycles sanitary waste, Monitra Healthcare, which builds remote cardiac monitoring devices, and Vidcare Innovations, continuing the thesis that carried Fund I.
The backer list adds real credibility here. Quest Global, a global engineering services firm, came in as a strategic limited partner, reflecting a broader shift where corporate players in engineering and industrial services are choosing to back early-stage deep-tech funds for genuine strategic reasons, deal-flow visibility, potential commercial partnerships, and a seat at the table as India's health and climate tech sectors scale. Lavni's own Fund I track record backs up the pitch too, its portfolio companies collectively contributed to over 3.5 million student learning hours, more than 10,000 healthcare interventions in underserved markets, and 303 metric tons of CO2 equivalent saved by FY25.
Co-founder and General Partner Vasu Guruswamy framed the milestone plainly, calling the strong repeat participation from Fund I's own limited partners a validation of Lavni's core thesis, that Indian deep-tech founders are genuinely positioned to deliver both scalable impact and attractive financial returns.
From sanitary waste recycling to remote cardiac monitoring, Lavni's Fund II is a bet that India's toughest health and climate problems are exactly where the next generation of deep-tech returns will come from.
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