Former investment banker Dhruv Jhunjhunwala has launched Novastar Partners, a new investment firm focused on India’s fast-evolving private market ecosystem. According to sources, the firm is targeting a corpus of Rs 350 crore, with a green shoe option of Rs 150 crore, for its debut fund.
Jhunjhunwala, an alumnus of New York University’s Stern School of Business, previously worked with RBC Capital Markets in New York. He has evaluated more than 100 private equity and tech-driven opportunities across sectors such as e-commerce, SaaS, gaming, education, and consumer technology. His portfolio includes investments in Capillary Technologies, AdmitKard, R for Rabbit, and Kratos Studios.
Building a Gateway to India’s Private Market Ecosystem
Novastar Partners aims to provide global investors with structured access to India’s private market opportunities. The firm will work through partnerships with investment managers and curated private deals, serving as a single-entry platform for institutional and accredited investors looking to participate in India’s growth story.
The investment firm will focus primarily on technology and tech-enabled businesses, targeting sectors such as healthtech, fintech, edtech, SaaS, AI, and deeptech. “Our goal is to allocate capital into highly scalable, capital-efficient companies with strong moats and sustainable business models,” said Jhunjhunwala.
Strategic Leadership and Vision for 2026
The leadership team also includes Gaurav Sharma, an alumnus of Duke University, who previously worked with Bridgewater Associates and Japan-based APL. “India is entering its golden age of private markets,” Sharma said. “We’re building a gateway for investors to participate in this transformation.”
Novastar Partners plans to announce its first set of fund partnerships by early 2026, positioning itself as a catalyst for global capital participation in India’s next growth cycle.
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