Pavestone Capital, a venture capital firm based in Hyderabad, has successfully closed its first fund at Rs 816 crore ($97 million), exceeding its initial goal of Rs 600 crore. The fund targets early growth-stage B2B technology companies and has attracted notable investors such as the Self-Reliant India Fund and Mankind Pharma promoters. It focuses on technologies like AI, immersive reality, and advanced engineering, while also considering trends in digitalization and ESG. With an eight-year tenure, the fund plans to invest $3-8 million in seed to Series A startups, allocating 80% for B2B and 20% for new-age technology ventures.