Novastar Partners: Investment Firm for India’s Private Markets

Novastar Partners has been founded by former investment banker Dhruv Jhunjhunwala, focusing on the evolving landscape of India’s private markets. While the firm has not shared specific details regarding its first fund, a source informed Startup Superb that Novastar is aiming for a corpus of Rs 350 crore, with a green shoe option of Rs 150 crore.

About Dhruv Jhunjhunwala

Dhruv Jhunjhunwala previously held a position at RBC Capital Markets in New York and graduated from New York University’s Stern School of Business. He has assessed over 100 opportunities in private equity and technology across diverse sectors such as e-commerce, SaaS, gaming, education, and consumer technology. His previous investment ventures include Capillary Technologies, R for Rabbit, AdmitKard, and Kratos Studios.

Objectives of Novastar Partners

Novastar Partners is dedicated to offering investors a chance to engage with India’s private market ecosystem by forming alliances with investment managers and presenting curated private opportunities. The firm aims to establish a singular platform for global investors to tap into India’s growth narrative.

Sector Focus

The firm will primarily concentrate on technology and tech-enabled enterprises, aiming at sectors including software, IT services, healthtech, fintech, edtech, artificial intelligence, and deeptech. Jhunjhunwala mentioned that the goal is to channel capital into highly scalable, capital-efficient companies that exhibit strong network effects.

Leadership Team

The leadership cadre also includes Gaurav Sharma, who has a background from Duke University and previously worked with Bridgewater Associates and APL in Japan. Sharma highlighted that India is entering a golden era, propelled by macroeconomic growth, increased domestic consumption, and digital adoption. He emphasized that this is a crucial moment for private markets, and they are crafting a gateway for investors to engage.

Future Plans of Novastar Partners

Novastar Partners anticipates revealing its initial fund partnerships in early 2026.