# Bandhan Mutual Fund

> Bandhan Mutual Fund is a VC fund in Mumbai backing Manufacturing, Security and Solar. See 8 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Mumbai, India
- Total investments: 8
- Last investment: Jul 2026
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bandhanmutual/
- X (Twitter): https://twitter.com/bandhanmutual
- Website: https://bandhanmutual.com/
- Facebook: https://www.facebook.com/bandhanmutual

Bandhan Mutual Fund is a VC fund in Mumbai focused on Manufacturing and Security. Bandhan Mutual Fund offer a range of investment solutions, covering assets including equity as well as fixed income.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 3 | 38% |
| Security | 2 | 25% |
| Solar | 1 | 13% |
| Drones | 1 | 13% |
| Jewelry | 1 | 13% |

19 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Post-IPO Equity | 4 | 50% |
| Post-IPO Secondary | 2 | 25% |
| Funding Round | 1 | 13% |
| Private Equity | 1 | 13% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| ideaForge | ideaForge develops and produces Unmanned Aerial Systems that offer unmatched usability due to its user-centric innovations and design. With a focus on sustainable use in operation, it ensures the highest quality and performance of its products. It is in constant pursuit of creating products that inspire a new vision.Founded in 2007 by IIT Mumbaialumni Ankit Mehta, Rahul Singh, Vipul Joshi, and Ashish Bhat, IdeaForge is headquartered in Mumbai, India. | $51.9M | Post-IPO Equity | Jul 14, 2026 |  |
| Premier Energies | Premier Energies is a Solar PV Cells & Module manufacturing company providing end-to-end solar power solutions. | $239.4M | Post-IPO Secondary | May 26, 2026 |  |
| AWL Agri Business | AWL Agri Business offers kitchen commodities including edible oil, wheat flour, rice, pulses, and sugar. | $1.8B | Post-IPO Secondary | Nov 21, 2025 |  |
| Senco Gold and Diamonds | Senco Gold Jewellers is one of the oldest jewellery organizations in India that started its operation in the year 1938, with a heritage of 75 years . Senco Gold is synonymous with exclusive designs, intricate work ship and right value.The company that has evolved over the past seven decades has endeavored to keep the designs contemporary, withmodern needs and preferences ,yet keep the core values and essence alive.With more than 45 showrooms in India covering 80000 square feet,with more concentration on east. Senco Gold jewellers is the largest retail chain in eastern India. It has a store in capital city of Delhi as well. | $54.1M | Post-IPO Equity | Dec 14, 2024 |  |
| Zen Technologies | Incorporated in 1993, Zen Technologies Limited designs, develops and manufactures state-of-the-art combat training solutions for the training of defence and security forces worldwide. Zen Technologies is headquartered in Hyderabad, India with offices in India and USA. Zen Technologies produces over 40 different Live Fire, Live Instrumented, Virtualand Constructive training systems to support individual and collective training capabilities. With over 1,000 training systems shipped around the world, Zen Technologies is a proven leader in building training systems for developing and measuring Combat Readiness. Zen Technologies is built on strong R&D capabilities and has filed or received over 90 patents. Zen Technologies Limited is an ISO 9001:2015 (QMS), ISO/IEC 27001:2013 (ISMS) and CMMI Maturity Level 5 company.Zen Technologies is publicly listed on Bombay Stock Exchange and the National Stock exchange. Zen Technologies is HQ in Hyderabad, India with a dedicated R&D and dedicated production facility. Zen Technologies also has a business development office in Washington D.C., USA. | $119.3M | Post-IPO Equity | Aug 23, 2024 |  |
| STL | Sterlite Technologies Limited is a leading global provider of transmission solutions for the telecom and power industries. Equipped with a product portfolio that includes overhead power T&D conductors including high performance conductors, optical power ground wire (OPGW), EHV/HV/ MV power cables, optical fibers, telecommunicationcables and a comprehensive telecom systems / solutions portfolio, Sterlite’s vision is ‘Connect every home on the planet’. | $119.5M | Post-IPO Equity | Apr 16, 2024 |  |
| Blue Jet Healthcare | Blue Jet Healthcare | $30.4M | Private Equity | Oct 23, 2023 |  |
| Updater Services | Updater Services (P) Limited is India's largest facility management services company, with more than 35,000 people spread across the country with a strong branch network. UDS offers a comprehensive and integrated facility management services for Commercial, IT Parks, Township, Manufacturing, Hospitality, Healthcare, Residential, Retail, BFSIand other industries. | $34.5M |  | Sep 22, 2023 |  |

8 of 8 investments shown.

## Co-investors
- [HDFC Mutual Fund](https://shizune.co/investors/profile/hdfc-mutual-fund) — VC Fund, 4 deals together
- [ICICI Prudential Mutual Fund](https://shizune.co/investors/profile/icici-prudential-mf) — VC Fund, 3 deals together
- [Aditya Birla Sun Life AMC](https://shizune.co/investors/profile/aditya-birla-sun-life-amc) — VC Fund, 2 deals together
- [BNP Paribas Arbitrage](https://shizune.co/investors/profile/bnp-paribas-arbitrage) — VC Fund, 2 deals together
- Franklin Templeton — VC Fund, 2 deals together
- [Kotak Mutual Fund](https://shizune.co/investors/profile/kotak-mutual-fund) — VC Fund, 2 deals together

## Similar investors

### Similar stage
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund
- [KB Securities](https://shizune.co/investors/profile/kb-securities) — VC Fund
- [Frazier Healthcare Partners](https://shizune.co/investors/profile/frazier-healthcare-ventures) — VC Fund

## FAQ

### What does Bandhan Mutual Fund invest in?

Bandhan Mutual Fund invests primarily in Manufacturing, Security and Solar startups, most often at Post-IPO Equity and Post-IPO Secondary stage. Most of the 8 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Bandhan Mutual Fund last invest?

The most recent investment recorded for Bandhan Mutual Fund closed in Jul 2026. Shizune tracks 8 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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