Poonawalla-backed PVF1 fund, managed by Ambit, invests Rs 230 crore in critical minerals firm Lohum

What's the deal? The Poonawalla Vision Fund-1 (PVF1) and several family offices have invested Rs 230 crore in Lohum Cleantech, wealth management firm AmbitDealroom has a profile for this one. Try Dealroom → Global Private Client (GPC) said in July 2026. Lohum bills itself as one of the world's largest sustainable critical minerals platforms outside China.

The fund: PVF1 is a Rs 1,050 crore Category II alternative investment fund managed by Ambit and backed by the Poonawalla family. It has made 12 investments to date, deploying about 60% of its capital within three months of final close, and is tracking a roughly 40% internal rate of return.

Why now? The investment lands amid concerns over access to critical minerals, most of which are processed in China. Founded in 2018, Lohum works in battery recycling, raw material recovery, and energy transition technologies, positioning it at the intersection of the global energy transition and India's China+1 opportunity.

What's the endgame? Lohum plans to expand into next-generation advanced materials, including platinum group metals, NMC Cathode Active Materials, and rare earth magnets. It aims to benefit from accelerating EV adoption and growing demand for resilient supply chains.

"The global transition towards clean energy is fundamentally reshaping demand for critical minerals and advanced materials," said Mahesh Kuppannagari, Ambit GPC's head of products and advisory. "Our investment in Lohum reflects our conviction in businesses that are building strategic infrastructure for the future economy."

The signal: Ambit GPC has deployed over Rs 8,000 crore across 26 private market investments now valued at Rs 22,000 crore, chief executive Amrita Farmahan said. Its bet on Lohum underlines how India's investors are chasing the supply-chain infrastructure underpinning the clean-energy shift.

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