Mounttech Growth Fund — Kavachh | Wisefolio

Mounttech Growth Fund

Cat II · Managed by Kavachh

Technology Meets Atmanirbhar India.

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Mounttech Growth Fund (brand: MGF-Kavachh) is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/23-24/1420, LEI: 9845003U1B6C3F7O7D31), registered on January 1, 2024 and managed by Mounttech Growth Fund Managers Private Limited — a New Delhi-based deep-tech and defence venture capital firm. Founded in 2024 by Raj Sethia (Founder & Managing Partner), a serial executive and entrepreneur who previously served as CEO and EVP at Vodafone Idea Limited and holds an MBA from Wake Forest University School of Business. The fund's brand name 'Kavachh' (कवच) is the Sanskrit/Hindi word for armour or shield — aptly reflecting the fund's investment mandate in India's defence, security, aerospace, and communications sectors. MGF-Kavachh is a Category II AIF committed to nurturing promising startups working at the intersection of innovation, deep technology, and India's Atmanirbhar (self-reliance) agenda, solving for strategic needs across Defence & Aerospace, National Security, Digital Communications, and aligned deep-tech sectors. The fund is headquartered at 910-911, 9th Floor, Kailash Building, 26, Kasturba Gandhi Marg, New Delhi 110001 (SEBI/LEI address), with a secondary operational address at 1st Floor, World Trade Tower, Barakhamba Lane, New Delhi 110001. Portfolio companies include Eon Space Labs (Series A, Apr 2025), Coratia Technologies (Nov 2025), and Inspecity.

Investment philosophy

MGF-Kavachh's investment philosophy is anchored in India's national security imperatives and the Atmanirbhar Bharat agenda — the belief that India must construct technological moats to safeguard its strategic aspirations in an era of evolving geopolitical challenges and supply chain vulnerabilities. By 2030, India's GDP is projected to double to $7 trillion, with rapid growth across physical and digital infrastructure, energy transition, and a robust startup ecosystem. The fund targets early-stage startups (Seed to Series A) operating at the intersection of deep technology and national strategic importance — solving for defence, aerospace, national security, and digital communications. A single LP (Suryakant Dalmia, per PitchBook) anchors the fund, consistent with a first-close, founder-backed vehicle. The fund is an active investor across hardware, satellites, and defence electronics, with on-ground sourcing from Raj Sethia's telecom and enterprise networks.

Team12

Raj Sethia

Founder, Managing Partner and IC Committee member

Raj Sethia is the Founder and Managing Partner of Mounttech Growth Fund (MGF-Kavachh) and the SEBI-designated contact person. He is a serial executive with a background in telecom and enterprise technology, having previously served as CEO and EVP at Vodafone Idea Limited. He holds an MBA from Wake Forest University School of Business. He founded MGF-Kavachh in 2024 to channel venture capital into India's defence, aerospace, and deep-tech ecosystem, leveraging his operational networks in enterprise technology and national communications infrastructure.

Suryakant Dalmia

Founder & Investment Committee Member

Abhinav Munshi

Founder & Investment Committee Member

Sanjay Chamria

Investment Committee Member

Harjeet Kohli

Investment Committee Member

Nagendra Nadig

Assistant Vice President (AVP) - Finance and Compliance

Vandana Swarup

Director - Investments

Abhranil Chatterjee

Director - Investments

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF2/23-24/1420

RegisteredJan 2024 (2 years ago)

Valid untilPerpetual

Contact personRaj Sethia

Address910 911, 9th Floor, Kailash Building, 26, Kasturba Gandhi Marg, Delhi, National Capital Territory Of Delhi, 110001

Investment manager

Insights

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Disclaimer

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