Former India defense secretary Ajay Kumar has joined venture capital firm Mounttech Growth Fund, which focuses on early-stage startups in the defense, aerospace and deeptech sectors, as chairman, The Economic Times reported on Monday.
The Securities and Exchange Board of India (Sebi)-approved fund has secured subscriptions to the tune of ₹280 crore, and is looking at invoking a green-shoe option for ₹250 core more, the report said, citing people aware of the matter.
While Singh is chairman, former senior telecom industry executive Ravi Sethia is the chief executive office. A slew of retired armed forces officers, including former Indian Air Force chief R.K.S. Bhadauria and former vice-chief of the Indian Navy S.N. Ghormade have been onboarded, the report added.
More Top Stories:
