Micromax Floats Family Office, Earmarks ₹250 Cr To Back Deeptech Startups

Original equipment manufacturer Micromax Informatics has announced the creation of a family office, with a portfolio of ₹250 Cr (around $26 Mn), to invest in deeptech startups worldwide. According to the company, the fund will support Pre-Series A to Series B ventures developing unique technologies and reusable intellectual property, with an emphasis on AI, semiconductors, defense technology, space technology, and robotics.

Aakil Garg, Micromax Informatics' investment head, explained that the family office initially intends to make average investments between ₹10 Cr and ₹20 Cr. Garg emphasized that their priority lies in identifying founders who are building for scalability and where their industry, manufacturing, and technology expertise can add value beyond the initial capital allocated. The family office asserts it has already begun distributing funds, without providing further details on specific startups.

Micromax Informatics cofounder Rahul Sharma revealed that the company aims to empower founders with resources, partnerships, and industry knowledge to turn innovative ideas into impactful solutions and sustainable businesses. The investment thesis of the family office includes backing companies tackling complex engineering and technology challenges with strong commercial potential and scalability.

Beyond capital, the office will aid portfolio startups in commercialization, manufacturing, and supply chain scalability, alongside providing access to its semiconductor technology network, global partnerships, and in-house manufacturing capabilities.

Founded in 2000 as an IT software company, Micromax made a shift to the mobile phone market in 2008 and subsequently diversified into electronics manufacturing and semiconductors. By establishing this family office, Micromax joins the expanding list of Indian family offices traditionally focused on real estate and fixed-income investments.

In recent years, local family offices have increasingly ventured into startups, attracted by the maturity of India's homegrown new-age tech ecosystem and GenZ founders looking for new investment opportunities. As of now, Inc42 data indicates that over 230 family offices have invested in Indian startups, participating in more than 1,300 funding rounds since 2014, with Mumbai and Delhi NCR being the primary locations for these family offices.