Dhruv Jhunjhunwala, a former investment banker with global experience, has launched Novastar Partners, an investment firm focused on India’s private market. The firm is aiming to raise Rs 350 crore for its maiden fund, with an additional green shoe option of Rs 150 crore. Novastar’s goal is to connect international investors with high-potential startups and fast-growing companies in India, creating a platform that simplifies access to the country’s private market opportunities.
Jhunjhunwala, who studied at New York University’s Stern School of Business, has worked at RBC Capital Markets in New York. Over the years, he has evaluated more than 100 private equity and technology-driven investment opportunities across sectors such as e-commerce, SaaS, gaming, education, and consumer technology. His past investments include companies like Capillary Technologies, R for Rabbit, AdmitKard, and Kratos Studios. With Novastar Partners, he is now looking to leverage his expertise and network to help global investors tap into India’s thriving startup ecosystem.
Novastar Partners is designed as a single-entry platform for investors, providing access to curated private market opportunities and partnerships with investment managers. The firm’s focus is on technology and tech-enabled businesses, including software, IT services, healthtech, fintech, edtech, artificial intelligence, and deeptech. Novastar’s investment strategy is to support companies that are highly scalable, capital-efficient, and capable of demonstrating strong network effects—businesses that grow naturally as their user base expands and create sustainable long-term value.
India’s private market is at a critical point in its growth. Macroeconomic expansion, rising domestic consumption, and rapid digital adoption have created a strong environment for startups. Global investors are increasingly looking at India as a high-growth market, where technology-driven businesses are redefining industries and driving innovation. Novastar Partners aims to bridge the gap between international capital and India’s private companies, helping investors participate in the country’s growth story.
Gaurav Sharma, part of Novastar’s leadership team, believes India is entering a golden age of private markets. Sharma, a Duke University graduate who previously worked at Bridgewater Associates and APL in Japan, highlighted that Novastar Partners is building a gateway for global investors to participate in India’s growth. The firm combines local market knowledge with access to global capital, making it easier for investors to discover opportunities that are not widely available.
Novastar’s approach is to focus on businesses that are not only scalable but also capital-efficient. This ensures that startups can grow without relying heavily on external funding, making them more resilient and profitable over the long term. By investing in technology-driven companies, the firm aims to identify businesses capable of disrupting industries and creating meaningful impact.
The firm is particularly focused on sectors with rapid growth potential. Software and IT services remain core areas, alongside healthtech and fintech, which are transforming healthcare delivery and financial services in India. Edtech and artificial intelligence are also major focus areas, as digital adoption and demand for innovative solutions continue to rise. Deeptech startups, leveraging cutting-edge technology to solve complex problems, are another key area where Novastar sees strong potential.
Jhunjhunwala and Sharma both emphasize the importance of network effects, where the value of a business increases as more users engage with it. By investing in companies with strong network effects, Novastar aims to maximize returns while supporting businesses that have the potential to become market leaders.
The leadership team brings significant global experience to the firm. Sharma’s expertise in global investment strategy complements Jhunjhunwala’s deep understanding of India’s startup ecosystem. Together, they aim to create a seamless platform that allows international investors to access India’s high-potential opportunities while providing startups with strategic guidance, insights, and capital to accelerate growth.
Novastar Partners is targeting its initial fund of Rs 350 crore, with an additional green shoe option of Rs 150 crore, and plans to announce its first fund partnerships in early 2026. The firm is positioning itself as a major player in India’s private market, offering structured investment strategies and access to high-quality opportunities for global investors.
India’s private equity and venture capital landscape has been gaining attention from international investors in recent years. Novastar Partners arrives at a time when access to curated, high-potential investment opportunities is increasingly sought after. For startups, the firm represents more than just funding—it is a partner that can provide strategic support, market insights, and guidance to accelerate growth and achieve scale.
Novastar Partners’ approach emphasizes both financial returns and contribution to the startup ecosystem. By investing in companies with strong fundamentals, scalable business models, and innovative technology, the firm is helping shape the future of India’s high-growth sectors. For investors, it offers a streamlined platform to access opportunities and participate in India’s innovation-led economy.
In conclusion, Novastar Partners is setting out to be a key player in India’s private market. With experienced leadership, a clear focus on scalable technology-driven businesses, and a commitment to providing curated opportunities to investors, the firm is poised to play an important role in the growth of startups in India. For global investors and ambitious startups alike, Novastar Partners offers an entry point into India’s booming private market ecosystem, connecting capital with innovation and helping companies reach their full potential.
Suggested tags: Dhruv Jhunjhunwala, Novastar Partners, India Venture Capital, Startup Funding India, Private Equity India, Technology Investments, SaaS Startups, Healthtech India, Fintech India, Edtech India, AI Startups, Deeptech Startups
