JSW Group's VC arm JSW Ventures marks Fund III first close, anchored by JSW Family Office

JSW Ventures, the venture capital arm of the JSW Group, has marked the first close of its third fund, Fund III, with the JSW Family Office as the anchor investor. The amount raised at the first close and the fund’s target size were not disclosed.

Returning and new institutional investors, family offices and high-net-worth individuals (HNIs) have also joined the fund as limited partners (LPs).

Fund III will invest in early-stage startups at the Pre-Series A to Series A stages, across four sectors: consumption, healthtech, fintech and deeptech.

In July 2025, Inc42 reported, citing The Economic Times, that JSW Ventures was looking to raise ₹400 Cr to ₹450 Cr (about $47 Mn to $52 Mn) from domestic investors for its third fund, after fully deploying its ₹300 Cr second fund.

That second fund, launched in 2020, drew family offices and institutions including SIDBI, NABARD and the family office of Ranjan Pai. It made new bets on startups such as Growcoms, Vetic and Zvolv, and in June 2025 it led StayVista’s ₹40 Cr Series B round.

The firm’s first fund, launched in 2016 with backing from the JSW family office, invested in startups including Purplle, HealthPlix and HomeLane. Inc42 reported that the first fund returned 3x to its investors, and that JSW Ventures fully exited Purplle in 2023 with a 2.7x return on its investment.

JSW Ventures is a SEBI-registered Category II alternative investment fund, with the JSW Family Office as its sponsor and one of its largest LPs, according to the firm’s website.