TLDR:
- Former defence secretary, Ajay Kumar, has launched a venture capital fund called Mounttech Growth Fund with Rs 250 crore to invest in startups in the defence, deeptech, aerospace, and space sectors.
- Kumar’s team includes other former defence honchos as advisers, and the fund aims to support startups that create value for themselves, the country, and investors.
Former Indian defence secretary, Ajay Kumar, has transitioned from the corridors of power to the world of venture capital and finance by launching a venture capital firm called Mounttech Growth Fund. Kumar, along with a team of other former defence honchos, has raised over Rs 250 crore in its first round to invest in startups working in the defence, deeptech, aerospace, and space sectors. This move marks Kumar’s shift from a high-profile government role to the dynamic world of finance and startups, where he aims to create value for the fund, startups, and investors.
Kumar, who completed the mandated cooling off period after his retirement, expressed enthusiasm for this new venture, highlighting his belief in the startup ecosystem and the need for a focused fund to support startups that are genuinely creating value. With advisers like retired Indian Air Force chief R K S Bhadauria and former Indian Navy vice chief S N Ghormade on board, Kumar’s Mounttech Growth Fund is set to make a mark in the startup investment landscape.
