An interview with Shubham Jhuria, CFO & Partner at Aeravti Ventures, an early-stage Venture Capital firm
In the dynamic world of venture capital, Shubham Jhuria stands out as a visionary leader. As CFO and Partner at Aeravti Ventures, he plays a pivotal role in identifying and nurturing early-stage startups.
In this interview, Shubham shares his insights on the evolving landscape of investment, the importance of strategic partnerships, and the qualities he seeks in entrepreneurs, offering a glimpse into the future of innovation and funding.
Can you share your journey into the world of venture capital and what motivated you to join Aeravti Ventures?
Shubham Jhuria: I’ve been associated with the startup world for about a decade now through different roles like Financial Due Diligence, Strategy at Unicorn Startups, Advisor at Early-stage startups, Angel Investments, Investment Banking, etc.
So, the Venture Capital world was always in the radar. While my partner Rishabh had been investing for a decade, my real motivation to start a VC Fund came from my experience of working with early-stage founders.
I saw the impact an investor can make in the journey of a young business and recognised the shortage of such investors in India in the early 2020’s. That gap, combined with our shared vision, led us to launch the fund in 2023.
As CFO, what are your primary responsibilities, and how do you ensure financial health and sustainability for the firm?
Shubham Jhuria: Since we are a small fund, everyone wears multiple hats. Beyond deal evaluation, community building, and shaping our investment thesis, my CFO-heavy role can be summed up simply: ensuring we remain fully compliant, avoid penalties, and optimize cash flows to the greatest extent possible.
Additionally, since we invest in early-stage startups, my role often overlaps with what a portfolio company’s CFO would typically handle—at least until they build a strong in-house finance team.
Maintaining the financial health and sustainability of the fund primarily depends on our ability to ensure liquidity at the right time for the right objectives.
This requires a combination of strategic planning and meticulous execution of day-to-day financial operations.
What criteria do you prioritize when evaluating potential investments in early-stage startups?
Shubham Jhuria: Among several key factors, the most important are the founders and the founding team. Understanding their vision and execution capability is critical, especially in early-stage startups, where technology, business models, and traction can evolve over time.
Ultimately, it is the founders’ resilience, adaptability, and determination to succeed that drive long-term value creation.
Can you discuss a particular investment that Aeravti Ventures is proud of and what factors contributed to its success?
Shubham Jhuria: It’s still early days for us at the fund, as all our portfolio companies are in the process of scaling and raising their next rounds of capital.
However, we’re thrilled with the progress they’re making and look forward to an eventful 2025 as they continue to grow and create impact.
How do you see the current landscape of venture capital evolving, especially in the context of emerging technologies and industries?
Shubham Jhuria: The surge of innovation across sectors and the rising valuations in growth-stage investments have led to two key trends—investors are entering earlier, and funds are becoming more sector-specific. Of the 78 VC funds launched in 2024, nearly 60% are focused on early-stage investments.
Looking ahead, I anticipate a rise in thematic funds as investors seek to capitalize early on India’s growing wave of innovation.
What trends are you currently observing in the startup ecosystem, and how is Aeravti Ventures positioning itself to capitalize on them?
Shubham Jhuria: The decline in fundraising from the highs of 2021 has levelled a large number of founders and have enabled them to create a priority pyramid.
Today, founders seek investors who not only specialize in their sectors but also provide meaningful value-add and guidance beyond capital.
At Aeravti, our approach aligns closely with this shift. We are committed to deep sectoral focus and hands-on involvement, ensuring that we actively contribute to the growth journey of our portfolio companies.
As the ecosystem evolves, we look forward to further strengthening our position and making a tangible impact.
What role do you believe mentorship plays in the success of both venture capitalists and entrepreneurs?
Shubham Jhuria: I believe Mentorship by itself has a limited success rate considering the multiple dynamic variables at play.
The real value comes from a more active, hands-on approach—where mentors and advisors have genuine skin in the game and are deeply invested in the company’s success.
When mentorship goes beyond guidance to meaningful collaboration, it becomes a powerful driver of growth for both entrepreneurs and investors.
What advice would you give to entrepreneurs seeking funding from venture capital firms like Aeravti Ventures?
Shubham Jhuria: With more investors in the market, longer fundraising cycles, and fewer startups getting funded per VC, founders need to be strategic in their approach. It’s crucial to target investors who not only specialize in their sector but also align with their vision and can provide long-term support.
By focusing on the right partners, founders can build a strong investor base that offers both capital and strategic guidance—helping them navigate challenges and sustain growth through uncertain times.
Shubham Jhuria’s expertise and passion for fostering innovation highlight the critical role of venture capital in shaping tomorrow’s businesses.
His insights not only illuminate the challenges and opportunities within the startup ecosystem but also inspire aspiring entrepreneurs to pursue their visions.
As Aeravti Ventures continues to support groundbreaking ideas, Shubham’s commitment to nurturing talent ensures a vibrant future for the next generation of innovators.
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