"I’ve often chosen unconventional or early paths, guided by a desire to challenge the status quo — both in the industries I worked in and within myself."
You took an unusual route from auditing to launching a VC firm. What’s one traditional VC approach you’ve moved away from to build your own style?
I’ve often chosen unconventional or early paths, guided by a desire to challenge the status quo — both in the industries I worked in and within myself. From the start, I was drawn to businesses and sectors that, from the outside, seemed difficult to break into.
I’ve been fortunate to work with organizations and individuals who gave me the platform and confidence to take risks consistently. A pivotal moment came when I stopped viewing myself as “just another CA” and began seeing the broader business landscape through a more entrepreneurial lens. Immersing myself in Bangalore’s vibrant startup community further fuelled this perspective, eventually inspiring me to take part in launching a Fund that reflects a hands-on, founder-first approach, rather than a traditional, distant investment style.
In public policy space, many areas are grey rather than pure white or black. To drive the overall benefits for the country, sector and company, sometimes one has to lead and utilize these grey zones to actively drive policies & regulations while working with policy leaders and allied stakeholders.
You’re not just funding startups, you’re reshaping founder support. What is one core idea you have pushed that’s having an impact through Aeravti?
At Aeravti, we believe true founder support starts with communication and collaboration — not just check-ins or board meetings. Even before we launched the fund, we were clear: we didn’t want to be distant investors; we wanted to be true partners.
We spend real time with our founders — digging into their businesses, understanding their challenges at the ground level, and working side-by-side with them to build stronger companies. It’s this hands-on, trust-driven approach that’s helped us move beyond just funding — and actually make a small difference in their journeys.
You’ve said you invest in people, not just businesses, given the early stage you target. How do you assess the intangibles in founders and the business?
There’s no perfect formula for assessing the intangibles in people. But what we can do — and what we prioritize — is spending real time with founders, creating a space where they can share their true thoughts, emotions, and aspirations, both personal and professional.
It’s through these honest conversations that we gain a deeper understanding of how they think, what drives them, and how they might grow over time. Ultimately, we’re not just investing in who the founder is today — we’re investing in who they have the potential to become five years from now.
How important is a strong IP portfolio in your investment decisions, and how can startups effectively leverage it?
In sectors like DeepTech and BioTech, having a strong IP portfolio — or at least a clear path to building one — plays a crucial role in our investment decisions. Good IP validates the uniqueness of the technology, signals the founder’s seriousness, and protects against future risks like replication.
That said, we understand that early-stage startups might not have fully formalized their IP yet — and that’s okay
What matters most is the strength of the underlying innovation and the founder’s commitment to building defensible value. Startups that think about IP early — not just as paperwork, but as a true competitive advantage — set themselves apart with both investors and customers.
The Indian startup ecosystem is maturing, yet pre-seed funding gaps persist. What’s one structural change you’d advocate to unlock more founder potential at this stage?
I believe India is already making strong strides in improving access to pre-seed funding. Even through challenging periods like the funding winter of 2023 to 2025, we’ve seen sustained and growing interest in the early stages of the ecosystem.
A large part of the alpha lies in early-stage investments, and more investors are beginning to recognize and act on that opportunity. Rather than a radical structural change, what’s needed now is consistency — staying on this path and continuing to deepen collaboration among all stakeholders: founders, investors, accelerators, and institutions. Sustained, long-term focus will unlock even more founder potential across the country.
Considering current industry trends, how do you foresee the evolution of venture capital, and what shifts do you anticipate in the coming years?
Venture capital has long been a field with high entry barriers, but the landscape is changing rapidly. Over the past three years, combined with policy advancements from SEBI, we’ve seen a significant democratization of the space — with funds ranging from 20 crores to larger than 8,000 crores emerging. This trend is creating an ecosystem where VC is becoming more accessible and competitive.
Looking ahead, I foresee a few key shifts.
First, competition for both LP capital and high-quality startups will intensify, driving funds to embrace new, more dynamic ways of operating.
We’ll likely see a rise in data-driven decision-making and AI-enhanced platforms that streamline everything from deal sourcing to due diligence. Second, with the growing emphasis on brand and thought leadership, funds will need to leverage content creation and their unique value propositions to stand out. Finally, we can expect more collaboration and partnerships among funds, a reduction in traditional fee structures, and the rise of decentralized VC models that offer more transparency and flexibility. The evolution of venture capital will be shaped by these disruptive forces, making it more competitive, efficient, and accessible.
About Shubham Jhuria:
Shubham Jhuria is a seasoned Chartered Accountant with diverse experience across various sectors. Post his stint as a CA, he joined a Unicorn startup in their Finance and Strategy team, where he contributed to their rapid growth. Over the years, Shubham has been deeply involved in the startup ecosystem, helping early-stage companies navigate their 0 to 1 journey and investing as an angel in multiple startups.
As a co-founder of an Investment Banking & Financial Advisory firm focused on early-stage startups, Shubham spent four years guiding emerging companies through critical financial milestones. Today, as the Partner & CFO of Aeravti Ventures, a venture capital fund he co-founded, Shubham continues to support innovative startups, leveraging his experience to shape the next generation of high-impact companies.
