Golden Sparrow Ventures has announced the first close of its second fund, securing over 50% of a $20 million target. The firm, which specializes in backing Indian-origin founders in the deep-tech and enterprise AI sectors, saw strong institutional support with more than 60% of its Fund I limited partners (LPs) returning for this follow-on vehicle.
Fund Strategy and Allocation
Fund II is designed to support 22 startups at the pre-seed and seed stages. With an average cheque size of $650,000, the firm plans to maintain a balanced portfolio:
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50% Allocation: Deep-tech and hard science.
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50% Allocation: Enterprise AI and SaaS.
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Follow-on Reserve: 12% of the capital is earmarked for breakout performers within the portfolio.
The fund operates on a 10-year horizon with an ambitious target of 5x gross returns.
Immediate Deployment and Track Record
The firm has already executed its first investment from Fund II, backing a repeat founder developing a cross-border enterprise data platform. The startup focuses on cleaning and structuring legacy data for large-scale organizations.
This follows the successful deployment of Golden Sparrow’s $8 million Fund I (2023–2025). That initial fund is currently reporting top-decile performance across 18 companies, including notable names such as:
Market Context: The 2026–27 Union Budget
The launch of Fund II coincides with a pivotal shift in India’s fiscal policy. The Union Budget 2026–27 has transitioned from mere growth subsidies to the creation of “complete technology ecosystems.” This new national strategy emphasizes the interplay between infrastructure, manufacturing, and human capital—a tailwind that directly benefits the deep-tech and hard-science sectors Golden Sparrow targets.
“We are focused on the earliest institutional stages of the cross-border corridor, bridging Indian innovation with global enterprise needs.”
Founded in 2023 by Rishaad Currimjee, Golden Sparrow Ventures continues to position itself as a key bridge for founders operating in high-barrier sectors like AI, ML, and DevOps.
By: Sandhya Bharti