Established VC fund Mumbai Angels says Dhruva Space investment is first of many in New Space sector

by Peter B. de Selding

PARIS — Established Indian venture-capital company Mumbai Angels Network has added the first of what it says will be multiple startup space companies to its portfolio with a $700,000 investment in smallsat component builder Dhruva Space.

Mumbai Angels is not India’s first VC to take an interest in India’s New Space sector. Exseed Fund for Space, which in addition to an investment portfolio also has a satellite building arm, said it is about one-third of the way to closing its $65-million fund . . .

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