Investor Profile: Pavestone VC — Thesis, Cheque Size & How to Apply

If you are building enterprise technology or frontier deep tech and wondering how to get funding from Pavestone VC, here is what you need to know. This Hyderabad-based venture capital firm closed its maiden Pavestone Technology Fund at Rs 816 crore (about $97 million) and writes early growth-stage cheques into B2B technology companies. Pavestone VC funding is aimed squarely at founders solving problems for large and public enterprises, plus a smaller allocation to moonshot science-led bets. For enterprise-tech founders, this is one of the most thesis-aligned funds in India.

Thesis and sweet spot

Pavestone VC was founded in 2021 and invests through its SEBI-registered Category 1 Alternative Investment Fund. The firm's stated thesis splits the fund 80/20: about 80% goes to enterprise technology companies that solve problems for large and public enterprises in the B2B space, and the remaining 20% goes to what the firm calls moonshot or frontier technologies involving cutting-edge engineering or scientific innovation.

Focus areas include generative AI, cloud computing, immersive reality, advanced connectivity, and cutting-edge engineering across mobility, material science, bioengineering and space, alongside long-term trends such as digitalisation, ESG and global supply-chain realignment. The firm looks for early growth-stage B2B technology startups, with portfolio companies typically already showing at least $1 million in annual recurring revenue.

Cheque size and fund

The Pavestone Technology Fund marked its final close at Rs 816 crore after initially targeting Rs 600 crore and revising the target to Rs 900 crore through green-shoe options. Through the fund, Pavestone plans to invest in 14-15 early growth-stage B2B technology companies with an average cheque size of $5-10 million. Investors in the fundraise include the Self-Reliant India (SRI) Fund, the family office of Mankind Pharma promoters, and Colruyt Group India.

Notable portfolio

Pavestone's portfolio includes no-code AI platform E42, in-space propulsion startup Bellatrix Aerospace, decarbonisation platform LivNSense (a $2.75 million pre-Series A led by Pavestone), defence startup NewSpace Research & Technologies, and visual robotics platform Cynlr. It led the $3 million seed round for lending-infrastructure startup Uncia, invested $7.5 million in retail SaaS company Bizom's $12 million Series B, and backed AI compute startup Tsavorite with $5 million.

Partners

The firm is led by managing partners V Laxmikanth, Sridhar Rampalli and Srikanth Tanikella, industry veterans with backgrounds in building and scaling enterprise and platform companies. The fund manager is Pavestone Advisors and Consultants LLP (SEBI registration IN/AIF1/21-22/0900).

Programs, credits and perks

Pavestone does not run a public accelerator or credits programme. Its value-add is hands-on support in scaling enterprise businesses: the team works with portfolio companies on go-to-market into large enterprises, strategic growth and governance, drawing on decades of experience across technology and venture capital.

How to apply for funding

Pavestone does not publish an application form. Founders can reach the investment team directly at [email protected] or through the contact form on the firm's website at pavestone.vc/contact-us. Given the firm's enterprise focus, a warm introduction through a portfolio founder or co-investor carries weight, and your pitch should clearly show enterprise traction of at least $1 million ARR.