Document detailing Micromax Family Office's ₹250 Cr investment in deeptech startups.
Micromax Informatics, the Indian consumer electronics manufacturer, has launched a family office with an initial corpus of ₹250 Cr (approximately $26 million) to invest in deeptech startups. The initiative aims to back early-stage companies, specifically those in Pre-Series A to Series B funding rounds, that are developing differentiated technologies and scalable intellectual property.
The family office will concentrate on emerging technology sectors including artificial intelligence (AI), semiconductors, defence tech, spacetech, and robotics. Aakil Garg, Micromax Informatics’ investment head, stated that the family office plans to deploy average cheque sizes ranging from ₹10 Cr to ₹20 Cr. The focus will be on founders building for scale, where Micromax’s established industry, manufacturing, and technology ecosystem can add value beyond capital investment.
Micromax has indicated that the family office has already commenced capital deployment, though specific portfolio companies were not disclosed. Co-founder Rahul Sharma expressed the aim to empower founders with necessary resources, partnerships, and industry expertise to transform innovative ideas into sustainable businesses.
The investment thesis emphasizes companies addressing complex engineering and technology challenges with significant commercial potential and global scalability. Beyond financial backing, the family office will provide support in accelerating commercialization, strengthening manufacturing capabilities, and enhancing supply chain operations. Portfolio startups will also gain access to Micromax’s semiconductor technology network, global partnerships, and in-house manufacturing facilities.
Founded in 2000, Micromax initially operated as an IT software company before entering the mobile phone market in 2008. The company has since expanded into electronics manufacturing and semiconductors. This move aligns with a growing trend in India where family offices are increasingly investing in the startup ecosystem, driven by the maturation of the domestic tech sector and new investment avenues for younger generations.
Data indicates that over 230 family offices have invested in Indian startups, participating in more than 1,300 funding rounds since 2014. Mumbai and Delhi NCR remain the primary hubs for these investment entities.
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