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

Micromax Informatics launched a family office with a corpus of ₹250 Cr (nearly $26 Mn) to back deeptech startups across India and other global markets, the company announced, per Inc42.

The family office will write cheques of ₹10 Cr to ₹20 Cr on average, targeting Pre-Series A to Series B companies building "differentiated technologies and scalable intellectual property," according to Inc42. The vehicle will focus on startups in AI, semiconductors, defence tech, spacetech, and robotics. Investment head Aakil Garg said the focus will be on "founders who are building for scale and where our industry, manufacturing and technology ecosystem can create value well beyond the capital invested." Cofounder Rahul Sharma added that the office aims to "empower founders with the resources, partnerships and industry expertise needed to transform breakthrough ideas into impactful solutions and sustainable businesses." The family office said it has already begun deploying capital, though it did not disclose whether it has backed any startups to date.

Beyond capital, the family office said it will help portfolio companies accelerate commercialisation, strengthen manufacturing, and scale supply chain capabilities. Selected founders will also receive access to Micromax's semiconductor technology network, global partnerships, and in-house manufacturing infrastructure, per Inc42.

Founded in 2000, Micromax originally operated as an IT software company before entering the mobile phone market in 2008. It has since diversified into electronics manufacturing and semiconductors. The family office marks a new chapter for the company as it moves into startup investing using its manufacturing and technology ecosystem as a value-add beyond capital.

The launch places Micromax in a broader wave of Indian family offices turning toward startup investing. Traditionally concentrated in real estate and fixed-income assets, these entities have grown more active in venture-stage deals, driven by the maturing domestic tech ecosystem and younger generations of wealth inheritors seeking new asset classes. Inc42 data shows more than 230 family offices have backed Indian startups to date, participating in over 1,300 funding rounds since 2014, with Mumbai and Delhi NCR accounting for the largest share.