India, Jan. 27 -- Ather Energy-backer Navam Capital has marked the final close of its maiden alternative investment fund (AIF), Navam Venture Fund I, at INR 315 Cr (about $34.3 Mn) to back Indian deeptech startups building for global markets.

The fund, which had a target corpus of INR 250 Cr, was oversubscribed and closed at INR 315 Cr following the exercise of green shoe option, Navam Capital said in a statement.

The fund attracted capital from seasoned business operators, family offices, technology founders, industrial groups and conglomerates.

The investment firm has already backed deeptech startups across sectors such as advanced computing, semiconductors, robotics, drone tech, spacetech, enterprise AI, climate tech and materials s...