The fund is among the first in India to adopt a dedicated multi-stage approach to defence, space, aerospace and allied strategic technologies, investing across the lifecycle—from venture capital and growth equity to late-stage private equity and pre-IPO opportunities, the company said on Tuesday.
The fundraise comes at a time when India’s defence and space sectors are undergoing a structural transformation, supported by policy reforms, rising domestic manufacturing, and increasing export competitiveness.
India’s defence budget for FY25 stands at ₹6.22 lakh crore, while defence exports have grown at a compound annual growth rate of about 84% between FY21 and FY25. Defence production reached ₹1.27 lakh crore in FY24, and the private space ecosystem now comprises more than 250 registered entities.
Sameer Nath, Chief Investment Officer & Head – Private Equity & Venture Capital, 360 ONE Asset, said, “Defence and space in India have crossed a clear inflection point. What we are witnessing is no longer episodic or event-driven demand, but sustained, capability-led spending shaped by geopolitics, rapid technology shifts, and a far more transparent and supportive policy framework. This strategy is designed to participate across the full lifecycle where sovereign IP is created, platforms are scaled, and businesses are ultimately institutionalised while maintaining disciplined capital allocation and risk management.”
“An 8.5-year fund life provides the flexibility required for longer R&D and commercialisation cycles, while still enabling early liquidity from mature assets,” he added.
The 360 ONE Asset Multi-Stage Defence & Space Strategy is structured to capture value across stages while managing risk through diversification and disciplined capital allocation. The ₹1,000 crore corpus will be invested in 15–20 companies, with an allocation mix of approximately 20% to venture investments, 30% to growth equity, and 50% to late-stage private equity and pre-IPO opportunities.
The multi-stage design allows the fund to balance early liquidity and visibility from mature assets with long-term upside from venture and growth-stage investments, addressing what it sees as a large and underpenetrated segment of India’s alternatives market, it said.
The fund has already deployed capital into four investments spanning defence electronics, space analytics, electronic warfare, and satellite-based ISR.
The investment pipeline remains active, with over 100 companies evaluated to date, it said.
360 ONE Private Equity & Venture Capital platform manages over ₹30,000 crore in assets.
The strategy is also supported by an advisory network, including former heads of India’s defence R&D establishment and national space agency, a former defence secretary, senior global satellite communications executives, and veteran military leaders, it said.
