Archive · 6 Nov 2025
Former Wall Street Banker Jhunjhunwala Launches Novastar Partners for India Private Markets
A new investment company called Novastar Partners has been started by Dhruv Jhunjhunwala, who used to work in finance in New York.
This company is like a special piggy bank that will invest in other special piggy banks that are already investing in Indian companies that are not yet on the public stock market.
Novastar wants to raise a lot of money for its first fund.
They plan to pick the best smaller investment funds in India that focus on growing companies.
This way, people who want to invest in India's growing businesses can do it easily through Novastar.
The company believes India is a great place for investments right now because its economy is growing, people are buying more things, and technology is advancing quickly.
They aim to make it simple for investors to be part of India's success story.
Novastar Partners, a new fund of funds, is targeting a ₹350 crore maiden fund with a ₹150 crore green shoe option.
The fund aims to back India-focused venture capital and private equity funds by acting as a limited partner.
Dhruv Jhunjhunwala, a former Wall Street banker, founded Novastar Partners.
The fund seeks to provide investors with curated exposure to India's private market ecosystem.
Novastar Partners plans to announce initial fund partnerships in early 2026 and aims for its first close within four to six months.
- Who
- Dhruv Jhunjhunwala, a former Wall Street banker, and his firm Novastar Partners
- What
- Launched a new fund of funds targeting India-focused venture capital and private equity.
- When
- Announced on November 6, 2025, with a target first close within 4-6 months and initial fund partnerships in early 2026.
- Where
- India's private markets
- Why
- To provide investors with curated exposure to India's private market ecosystem through partnerships with top-tier investment managers and high-quality private opportunities.
Government-led Vehicles
Private Fund of Funds
Dominance in the Sector
Government-led Vehicles
Government-led vehicles largely dominate the private fund of funds segment in India.
Private Fund of Funds
Novastar Partners joins a small but growing set of private fund of funds operating in India.
- Fund Name
- Novastar Partners
- Target Fund Size
- ₹350 crore (maiden fund)
- Green Shoe Option
- ₹150 crore
- Fund Registration
- Category II Alternative Investment Fund (AIF)
- First Close Target
- Within 4-6 months
- Founder
- Dhruv Jhunjhunwala
- Key Personnel
- Gaurav Sharma (General Partner)