Jaipur-based Rajasthan Venture Capital Fund (RVCF), a government-backed venture capital institution established over two decades ago, launched its fourth fund — India Growth Fund IV — around December 15, 2025, with an initial corpus of ₹150 crore and a Green Shoe Option of ₹100 crore, taking its potential total size to ₹250 crore. The fund is designed to make targeted investments at the pre-Series A and Series A stages, focusing on technology-driven startups with scalable business models, strong employment generation potential, and significant economic impact. Investment priority sectors include technology, healthcare, agritech, cleantech, and digital transformation. Beyond capital infusion, RVCF will provide portfolio companies with strategic guidance, corporate governance support, and access to industry networks. RVCF's track record includes 44 investments to date, largely supporting first-generation entrepreneurs and MSMEs. RVCF-backed startups have collectively served over 10 million customers, generated more than 10,000 jobs, and contributed close to ₹200 crore in tax revenues. India Growth Fund IV represents the Rajasthan government's continued commitment to fostering an innovation ecosystem and startup-led economic growth in the state, positioning Jaipur as an emerging startup hub in Tier-2 India.
Rajasthan Venture Capital Fund Launches ₹150-Crore 'India Growth Fund IV' to Boost Pre-Series A Tech Startups
Jaipur-based Rajasthan Venture Capital Fund (RVCF), a government-backed venture capital institution established over two decades ago, launched its fourth fund — India Growth Fund IV — around December 15, 2025, with an initial corpus of ₹150 crore and a Green Shoe Option of ₹100 crore, taking its potential total size to ₹250 crore. The fund is designed to make targeted investments at the pre-Series A and Series A stages, focusing on technology-driven startups with scalable business models, strong employment generation potential, and significant economic impact. Investment priority sectors include technology, healthcare, agritech, cleantech, and digital transformation. Beyond capital infusion, RVCF will provide portfolio companies with strategic guidance, corporate governance support, and access to industry networks. RVCF's track record includes 44 investments to date, largely supporting first-generation entrepreneurs and MSMEs. RVCF-backed startups have collectively served over 10 million customers, generated more than 10,000 jobs, and contributed close to ₹200 crore in tax revenues. India Growth Fund IV represents the Rajasthan government's continued commitment to fostering an innovation ecosystem and startup-led economic growth in the state, positioning Jaipur as an emerging startup hub in Tier-2 India.
Key facts
- Rajasthan Venture Capital Fund launched India Growth Fund IV with ₹150 crore corpus around December 15, 2025.
- The fund targets pre-Series A and Series A stage technology-driven startups.
- Priority sectors include technology, healthcare, agritech, cleantech, and digital transformation.
- RVCF has made 44 investments to date, supporting first-generation entrepreneurs and MSMEs.
- RVCF-backed startups have served 10 million customers and generated over 10,000 jobs.
- The fund positions Jaipur as an emerging Tier-2 startup hub in India.
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Which statement is correct about Rajasthan Venture Capital Fund's India Growth Fund IV?
India Growth Fund IV is Rajasthan Venture Capital Fund's fourth fund, reported as a ₹150-crore fund with an additional green-shoe option. It is aimed at early-stage, scalable startups in areas such as technology, healthcare, agritech, cleantech and digital transformation, and is linked to Rajasthan's startup and innovation ecosystem.
Source: BW Disrupt / RVCF Official / Tracxn
Frequently asked questions
What is India Growth Fund IV and what is its corpus size?
India Growth Fund IV is the fourth fund launched by the Rajasthan Venture Capital Fund (RVCF) with an initial corpus of ₹150 crore. With a Green Shoe Option of ₹100 crore, the fund's total potential size is ₹250 crore.
What stage of startups does India Growth Fund IV target and what are its priority sectors?
India Growth Fund IV targets pre-Series A and Series A stage technology-driven startups. Priority sectors include technology, healthcare, agritech, cleantech, and digital transformation, focusing on scalable business models and job creation.
What has been the impact of RVCF's previous investments?
RVCF has made 44 investments to date, with its backed startups serving 10 million customers and generating over 10,000 jobs. The fund has focused on supporting first-generation entrepreneurs and MSMEs.
What is the significance of RVCF for Rajasthan's startup ecosystem?
RVCF is a government-backed venture capital institution established over two decades ago, making it one of the earliest state-level VC funds in India. India Growth Fund IV positions Jaipur as an emerging Tier-2 startup hub, diversifying Rajasthan's economy beyond tourism and mining.
What is a Green Shoe Option in the context of a venture capital fund?
A Green Shoe Option (also called an overallotment option) allows a fund to raise additional capital beyond its initial target if investor demand is strong. In the case of India Growth Fund IV, the ₹100 crore Green Shoe Option can increase the total fund size from ₹150 crore to ₹250 crore.
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