Ex-Mirae Asset CEO Ashish Dave launches ₹1,000 Cr venture fund Sanskrit Capital

Ashish Dave, the former CEO of Mirae Asset Venture Investments (India), has launched Sanskrit Capital, a new venture capital firm based in Mumbai. The company aims to raise between ₹700 Cr and ₹1,000 Cr for its first fund, targeting early and growth-stage startups across multiple sectors. Sanskrit Capital will operate as a single general partner (GP) fund and is currently seeking approval from SEBI to register as an alternative investment fund (AIF). The firm plans to raise capital primarily from domestic family offices, entrepreneurs, and startup founders.

The fund will focus on Series B and Series C startups that have already achieved product-market fit and are ready to scale. Investment cheques will range from ₹50 Cr to ₹150 Cr, with additional capital reserved for follow-on funding. While the firm describes itself as sector-agnostic, it expects to prioritise areas such as fintech, consumer internet, logistics, healthcare, and enterprise AI.

The launch of Sanskrit Capital follows a wider shift in India’s venture capital landscape. Several experienced investors have recently left established firms to start their own funds, including Mettle Capital and Ambition Capital, both of which are targeting substantial fund sizes. Sanskrit Capital’s entry adds to the growing number of independent venture funds in India. The firm’s focus on scaling startups with proven traction could provide new funding opportunities for businesses in key sectors. Approval from SEBI will mark the next step in its operational rollout.