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Next Orbit Ventures Fund (NOVF) is a venture capital firm founded in 2012 and headquartered in Mumbai, India. The firm operates as a multi-asset fund manager, focusing on both debt and equity investments in growing companies. NOVF aims to create long-term sustainable value while generating superior returns for its investors. The firm has evolved from a generalist growth fund to a specialized vehicle targeting the Electronics System Design & Manufacturing (ESDM) sector, particularly in semiconductors.
As of now, NOVF manages assets totaling approximately $750 million across various funds. The firm has a diverse portfolio that includes 18 companies, with a notable emphasis on digital transformation and innovation in the semiconductor and electronics ecosystem. The firm has made significant strides in establishing itself as a key player in the Indian market, particularly through its involvement in the ISMC Analog Fab project.
Next Orbit Ventures has a team of around 15 professionals, including partners and analysts, who bring a wealth of experience from various sectors. The firm is registered with SEBI as a Category II Alternative Investment Fund (AIF) and has been instrumental in shaping the semiconductor landscape in India.
Next Orbit Ventures invests across multiple sectors, including artificial intelligence, fintech, healthcare, biotech, consumer, commerce, energy, climate, cybersecurity, and industrial. The firm targets companies at various stages, including Seed, Series A, Series B, and Growth Equity. Check sizes typically range from $1 million to $6 million, with a focus on companies generating $1 million to $10 million in revenue and positive EBITDA.
The firm is particularly focused on digital transformation, emphasizing investments in artificial intelligence, machine learning, and IoT. Additionally, NOVF has a strong commitment to the semiconductor and electronics sectors, aiming to enable an ESDM ecosystem in India. This includes anchoring capital for domestic semiconductor fabrication and supporting companies that align with this vision.
Next Orbit Ventures also provides a range of debt solutions primarily to small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India. The firm seeks to identify unique opportunities that can catalyze growth and innovation within its targeted sectors.
Next Orbit Ventures has a diverse portfolio of 18 companies, with notable investments spanning various sectors. Key portfolio companies include:
In addition to these companies, NOVF has invested in various real estate projects and public equity opportunities. The firm’s historical portfolio reflects its transition towards a focus on the semiconductor and electronics sectors, aligning with its investment thesis to support the ESDM ecosystem in India.
Ajay Jalan: Founder & Managing Partner. Ajay has extensive experience in venture capital and is a prominent figure in the Indian semiconductor policy landscape. He is also the Chairman of the ISMC Analog Fab project.
Anil Goyal: Managing Partner. Anil brings a wealth of experience in investment management and has played a key role in shaping the firm's strategy.
Astha Jalan: Head - HR & Investor Relations. Astha is responsible for managing investor relationships and overseeing human resources.
Sagar Chaudhary: Senior Business Analyst. Sagar focuses on market analysis and investment research.
Manali Shirdhankar: Assistant Manager. Manali supports various operational functions within the firm.
Ayush Baldi: Manager - Accounts & Finance. Ayush manages the financial operations of the firm.
Rutik Ambre: Assistant Manager - Accounts. Rutik assists in financial reporting and analysis.
Siya Jalan: Manager - Legal. Siya oversees legal matters related to investments and compliance.
Divyang Suthar: Business Analyst. Divyang conducts research and analysis to support investment decisions.
Umesh Kumar: COO - Projects. Umesh manages project operations and execution.
Suraj Kokane: Senior Business Analyst. Suraj focuses on investment analysis and portfolio management.
Vikram Kaushal: Advisor. Vikram provides strategic guidance to the firm.
Shailesh Haribhakti: Mentor - Semiconductor Fab Project. Shailesh offers mentorship and expertise in semiconductor projects.
Sajith Kumar: Advisor. Sajith provides insights and guidance on investment strategies.
Lubabah Kundan: Manager – Investor Relations. Lubabah manages communications with investors.
Monika Jadhav: Senior Accounts Executive. Monika handles accounting functions within the firm.
To pitch Next Orbit Ventures, founders should use the contact form available on their website or send an email to contactus@nextorbitventures.com. It is important to include a comprehensive pitch deck that outlines the business model, market analysis, financial projections, and team background.
Response times can vary, but founders should expect to hear back within a few weeks. Warm introductions are preferred, as they can significantly increase the chances of securing a meeting with the investment team.
Next Orbit Ventures operates the Next Orbit Growth Fund III, which is registered with SEBI under the AIF regulations. This fund focuses on various investment opportunities across sectors, including ESDM, digital transformation, and real estate.
Eligibility for investment typically includes companies that align with the firm's focus areas and demonstrate potential for growth and innovation. Founders interested in applying can reach out through the firm's website for more information on the application process.
In May 2022, Next Orbit Ventures Fund announced a significant partnership with the Karnataka government to establish the ISMC Analog Fab, a semiconductor fabrication facility, with a projected investment of approximately $3 billion.
However, in 2023, the project faced challenges as it stalled following Intel's acquisition of Tower Semiconductor, which impacted the commitments of the joint venture. This development has led NOVF to signal its intent to sell or reduce its stake in the stalled project.
Despite these challenges, Next Orbit Ventures continues to explore new investment opportunities in the semiconductor and electronics sectors, aiming to support the growth of India's ESDM ecosystem.
What are Next Orbit Ventures' investment criteria?
Next Orbit Ventures focuses on companies in sectors such as AI, fintech, healthcare, and ESDM. They typically invest in Seed to Growth Equity stages, targeting companies with revenues between $1 million and $10 million and positive EBITDA.
How can founders pitch to Next Orbit Ventures?
Founders can pitch to Next Orbit Ventures through their website at nextorbitventures.com. It is advisable to include a detailed business plan, financial projections, and information about the team in the pitch deck.
What makes Next Orbit Ventures different from other VCs?
Next Orbit Ventures has a strong focus on the semiconductor and electronics sectors, aiming to establish India as a global hub for ESDM. Their expertise in this area allows them to provide strategic support and connections within the industry.
What is the typical check size for investments?
Next Orbit Ventures typically invests between $1 million and $6 million per deal, depending on the stage and potential of the company.
What is the geographic focus of Next Orbit Ventures?
The firm primarily invests in India and the broader Asian market, with a specific emphasis on opportunities that align with their ESDM thesis.
What kind of post-investment support does Next Orbit Ventures provide?
Next Orbit Ventures offers strategic support to its portfolio companies, leveraging its expertise in the semiconductor and electronics sectors. This includes facilitating access to capital and industry connections to help companies navigate challenges.
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