top of page
  • Writer's pictureKelly Alica Liman

Top 47 Venture Capital Firms (VCs) in India

Several watershed moments have been witnessed in the Indian startup landscape within the past year. Investments in India have grown multitudes faster than any other startup ecosystem; Bain & Company reported a record growth year with VC funding reaching $38.5 billion in 2021. The year also saw a rise in the Indian ecosystem value with 44 unicorns being minted, exceeding China’s 42 unicorns.


The venture capital firms can be credited as the powerful tailwinds that helped startups to progress forward and enabled them to become unicorns. Without the right funding at a critical time, startups might not have the catalyst they need to achieve growth. In this article, we have curated a list of the top venture capital firms in India that are driving investment momentum in India.


➡️ Click on the link to download ​the FULL LIST of VCs & Angel Investors including over 1,000+ listings with contact links!



VCs and Angel investors in India
VCs and Angel investors in India

Topics Covered:




What is a Venture Capitalist?


A venture capitalist (VC) is a private equity investor that provides funding to startups with high-growth potential in exchange for a stake in the company. It usually operates as a professionally managed venture capital firm that employs a committee to make investment decisions on behalf of partners who invest in the VC fund. These partners are typically made up of wealthy individual investors, foundations, insurance companies, corporate pension funds, and other parties.


The stage at which VCs fund startups is usually when firms are in the process of commercializing their idea or expanding nationally and globally. The VC fund will invest in these companies, nurture their growth, and look to exit with a high return on investment. As such, they would usually seek companies with a strong management team, a large potential market, and a unique product or service with a significant competitive advantage.


These venture capital firms are not looking for stable or safe companies, they want to invest in high-risk yet high-potential companies. They do so because they stand to profit handsomely should the companies succeed, receiving higher rates of return than they could earn through other investment vehicles. As such, venture capitalists also fail at a high rate due to the uncertainties of investing in unproven companies. However, the returns for those investments that do pay off are enormous.






Undeniably, access to funding is one of the major reasons you should consider raising funds with venture capitalists in India. For startup players, it is common knowledge that India currently stands as the world's third-largest startup ecosystem. However, this status might change within the upcoming years. According to The State Of Indian Startup Ecosystem Report 2022 by Inc42, India might soon achieve the status as the second-largest startup ecosystem by 2025, surpassing China. This statement is not without basis, as investments in Indian startups have increased at a 49% compound annual growth rate from 2014 to 2021, much greater than venture capital inflows in China. In 2021, India also witnessed significant participation from several global and local investors with an active investor count of 665.


Aside from the increase in the volume of venture capital, there is also a shift in the nature of deals. In the report by Bain & Company, there is an increasing tendency towards larger and more frequent transactions. Between 2020 and 2021, the number of deals increased from 809 to 1,545, with the average transaction doubling from $12.4 to $24.9 million. This signifies more opportunities to gain funding and higher startup valuations. It also indicates that VCs are confident that their investments would continue to give them positive returns.


On an additional note, the increase in investors' interest in India has been largely driven by the reform-minded government agencies that have actively implemented pro-startup policies at the state level. This has promoted a friendly and welcoming climate for both startups and investors, showcased by the spike in the number of Indian startups and unicorns. For instance, the Government of India has implemented an action plan featuring funding support and incentives, pushed for industry and academia partnerships, and rolled out startup-centric business policies that simplify the act of doing business in the country. With comprehensive governmental support and high investor confidence in the country's startups, ventures have much to gain from riding the momentum.





Seed to Early Stage VCs in India


The venture capital firms listed below mostly invest in seed to early-stage VCs in India. However, there are also some VCs that invest throughout all stages, including from Seed up to Series C. All quoted investment ranges are in US Dollars unless otherwise stated.



  • Founder: Adith Podhar

  • Year of Inception: 2018

  • Stage: Pre Seed, Seed

  • Focus: Consumer, Tech, SaaS, FinTech, Deep Tech

  • Investment Value: $250,000

  • Deals (as of 2022): 32

  • Notable Portfolio: Plum, Strata, Grip, Zuper, Finly, Inai



  • Founder: Prashanth Prakash and Subrata Mitra

  • Year of Inception: 1983 (2008 in India)

  • Stage: Pre Seed, Seed, Series A, Series B

  • Focus: Cloud, SaaS, Consumer, Enterprise, IT

  • Investment Value: $250,000 - $35 million

  • Deals (as of 2022): 49

  • Notable Portfolio: FlipKart, Freshworks, Chargebee, MindTickle



  • Founder: SD Shibulal, S Gopalakrishnan, Prof. Tarun Khanna, Srinath Batni, and Ganapathy Venugopal

  • Year of Inception: 2014

  • Stage: Seed

  • Focus: Agritech & Allied, B2B Commerce, Consumer Internet, Cleantech & Waste Management, Enterprise Tech / SaaS EV / Mobility, Fintech / Financial Services, Healthcare / Healthtech / Life Sciences, Supply Chain & Logistics

  • Investment Value: $500,000 - $750,000

  • Deals (as of 2022): 111

  • Notable Portfolio: QuickShift, MedFin, EnKash, Womaniya, Petoo, Lytyfy



  • Founder: Sasha Mirchandani

  • Year of Inception: 2010

  • Stage: Seed, Pre Series A

  • Focus: Sector Agnostic

  • Investment Value: ~ $3 million

  • Deals (as of 2022): 101

  • Notable Portfolio: 1MG, Healthkart, Nua, Porter, Squareyards, Myntra, InMobi





  • Founder: Sunil K Goyal, Sanjay Pande, and Girish Shivani

  • Year of Inception: 2011

  • Stage: Seed, Pre Series A

  • Focus: DeepTech, AI, IoT, Robotics, AR/VR/MR, Dev. Tools, Edge Cloud, Digital Products

  • Investment Value: $1 million - $10 million

  • Deals (as of 2022): 55

  • Notable Portfolio: Wiom, Dozee, IonEnergy, Cove IoT (KaHa), TWID (Fashalot)



  • Founder: Shashank Randev, Sanjay Mehta, Yagnesh Sanghrajka

  • Year of Inception: 2019

  • Stage: Seed, Pre Series A

  • Focus: Technology

  • Investment Value: $150,000 - $1 million

  • Deals (as of 2022): 38

  • Notable Portfolio: Broomees, Pension Box, Pilk, Papa Pawsome, WayFr, Paperplane



  • Founder: Sateesh Andra, Abhishek Srivastava, and Dr. Ramesh Byrapaneni

  • Year of Inception: 2015

  • Stage: Seed, Pre Series A

  • Focus: Technology, Healthcare, Consumer

  • Investment Value: ~ $2 million

  • Deals (as of 2022): 49

  • Notable Portfolio: Aqua Exchange, Mylo, Expertia.AI, Sugar.fit, Sigtuple, Darwinbox



  • Founder: Suvir Sujan, Sandeep Singhal, and Naren Gupta

  • Year of Inception: 2006

  • Stage: Seed, Series A

  • Focus: Technology

  • Investment Value: $100,000 - $15 million

  • Deals (as of 2022): 315

  • Notable Portfolio: Zomato, Apollo.io, Growth Book, Delhivery, Unacademy, Snapdeal, Rapido, OLX, Hasura, Urbanic, Zepto





  • Founder: Vani Kola

  • Year of Inception: 2006

  • Stage: Seed, Series A

  • Focus: Technology

  • Investment Value: $100,000 - $15 million

  • Deals (as of 2022): 213

  • Notable Portfolio: Elevar, Blue Stone, Dubverse, Phable, Samosa Party, Simplilearn



  • Founder: Thomas J. Davis Jr.

  • Year of Inception: 1969 (2006 in India)

  • Stage: Seed, Series A

  • Focus: Enterprise, Consumer, Human & Planetary Health, Semiconductors, Web 3.0

  • Investment Value: $7 million - $75 million

  • Deals (as of 2022): 631

  • Notable Portfolio: Agnikul, Fourcee, LendingKart, Securens, Simplilearn



  • Founder: Amit Patni and Rajan Mehra

  • Year of Inception: 2011

  • Stage: Seed, Series A

  • Focus: Internet, Mobile

  • Investment Value: $2 million - $40 million

  • Deals (as of 2022): 15

  • Notable Portfolio: Zopper, Kartrocket, Transerv, Unbxd, UrbanPro



  • Founder: Dave Richards and Will Poole

  • Year of Inception: 2012

  • Stage: Seed, Series A

  • Focus: JobTech, Healthcare, FinTech, AI, Education

  • Investment Value: $300,000 - $1 million

  • Deals (as of 2022): 72

  • Notable Portfolio: Bandhoo, Masai, Gigforce, Betterplace





  • Founder: Rehan Yar Khan

  • Year of Inception: 2013

  • Stage: Seed, Series A

  • Focus: Technology, Software

  • Investment Value: $500,000 - $24 million

  • Deals (as of 2022): 96

  • Notable Portfolio: Country Delight, Bolo, Elda Health, ixigo, PharmEasy



  • Founder: -

  • Year of Inception: 2008

  • Stage: Seed, Series A

  • Focus: Deep Tech, B2B

  • Investment Value: $100,000 - $750,000

  • Deals (as of 2022): 55

  • Notable Portfolio: Advantage Club, Cell Propulsion, Pixxel, MedPay



  • Founder: Rema Subramanian and Ritu Verma

  • Year of Inception: 2014

  • Stage: Seed, Series A

  • Focus: Digital Technology, Deep Science Technology

  • Investment Value: $1 million - $25 million

  • Deals (as of 2022): 56

  • Notable Portfolio: MyoWorks, ProjectHero, Ibisa, Offgrid Energy Labs



  • Founder: Anil Joshi and Bhaskar Majumdar

  • Year of Inception: 2015

  • Stage: Seed, Series A

  • Focus: Technology, Consumer, Mobile & Internet, Enterprise & SaaS, Cloud & IT, Services (Outsourcing), Hardware

  • Investment Value: $60,000 - $1.2 million

  • Deals (as of 2022): 48

  • Notable Portfolio: Hubbler, Boxx.ai, Finin, Genrobotics, Inc42





  • Founder: Amit Singhal and Dhianu Das

  • Year of Inception: 2020

  • Stage: Seed, Series A

  • Focus: Direct to Consumer

  • Investment Value: $100,000 - $350,000

  • Deals (as of 2022): 9

  • Notable Portfolio: Fabriclore, Wall Mantra, Shumee, Raskik



  • Founder: Neeraj Arora and Samir Sood

  • Year of Inception: 2010

  • Stage: Seed, Series A

  • Focus: Technology

  • Investment Value: $1 million - $12 million

  • Deals (as of 2022): 72

  • Notable Portfolio: Grip, Moglix, Meesho, CureLink, Ivy Homes, Urban Yogi



  • Founder: Anirudh Damani

  • Year of Inception: 2013

  • Stage: Seed, Series A

  • Focus: Sector Agnostic

  • Investment Value: $250,000 - $3 million

  • Deals (as of 2022): 105

  • Notable Portfolio: Oyo Rooms, InstaSafe, Lyft, Maximojo, Tala





  • Founder: Kanwaljit Singh and Vinay Singh

  • Year of Inception: 2017

  • Stage: Seed, Series A

  • Focus: Consumer

  • Investment Value: $2 million - $6 million

  • Deals (as of 2022): 70

  • Notable Portfolio: Mamaearth, Boat Lifestyle, Yogabar, Gynoveda, The Baker's Dozen



  • Founder: Alok Goyal, Rahul Chowdhri, and Ritesh Banglani

  • Year of Inception: 2016

  • Stage: Seed, Series A

  • Focus: Technology

  • Investment Value: $1 million - $10 million

  • Deals (as of 2022): 62

  • Notable Portfolio: Ayu Health, CredFlow, Slintel, Mamaearth, MFine, Vogo



  • Founder: Pierre Omidyar

  • Year of Inception: 2004

  • Stage: Seed, Series A

  • Focus: Digital Society, Emerging Technology, Education, Financial Inclusion, Cities & Innovation, Property Inclusivity

  • Investment Value: $1 million - $3 million

  • Deals (as of 2022): 33

  • Notable Portfolio: 1MG, Novata, CredFlow, Goodera, HealthKart, iMerit, Vedantu





  • Founder: Vikram Gupta, Vishal Gauri, Sonia Gupta, Anju Gupta

  • Year of Inception: 2011

  • Stage: Seed, Series A, Series B

  • Focus: Technology, DeepTech, ConsumerTech, HealthTech, FinTech, EdTech, Saas, Enterprise Tech

  • Investment Value: $500,000 - $35 million

  • Deals (as of 2022): 59

  • Notable Portfolio: Purplle, Blue Stone, eShakti, Biryani by Kilo, MiKo



  • Founder: Avnish Bajaj

  • Year of Inception: 2006

  • Stage: Seed, Series A, Series B

  • Focus: Consumer, Enterprise

  • Investment Value: $2 million - $100 million

  • Deals (as of 2022): 188

  • Notable Portfolio: Country Delight, DSLR Technologies, RocketLane, DailyHunt, GoKwik, Itilite



  • Founder: Karthik Reddy and Sanjay Nath

  • Year of Inception: 2010

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology, AgriTech, B2B Services, BioTech, CleanTech, Commerce, DeepTech, Education, FinTech, Future of Work, Gaming, Healthcare, Media, Mobility, Real Estate, Retail, Social, Software/SaaS, Travel

  • Investment Value: $500,000 - $1.5 million

  • Deals (as of 2022): 299

  • Notable Portfolio: GreyOrange, Turtlemint, Unacademy, Purplle, Cashify, HealthifyMe



  • Founder: Don Valentine

  • Year of Inception: 1972 (2006 in India)

  • Stage: Seed, Series A, Series B, Series C

  • Focus: AI/ML, Consumer, Cryptocurrency, Enterprise, FinTech, Healthcare

  • Investment Value: $100,000 - $20 million

  • Deals (as of 2022): 605

  • Notable Portfolio: Faaso’s, FreeCharge, Grofers, HealthKart, Practo, Blinkit, Purplle, Meesho, Druva





  • Founder: Sudhir Sethi and TC Meenakshisundaram

  • Year of Inception: 2006

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Consumer, Media & Technology, Software/SaaS, HealthTech, FinTech, Deep Tech

  • Investment Value: $4 million - $100 million

  • Deals (as of 2022): 196

  • Notable Portfolio: Cloudcherry, eShakti, uSens, Gamer DNA, Bizongo, Bounce, Bytelearn, Flipkart



  • Founder: Ravi Adusumalli

  • Year of Inception: 2011

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Sector Agnostic

  • Investment Value: $2 million - $30 million

  • Deals (as of 2022): 122

  • Notable Portfolio: Country Delight, Meesho, Sprinto, Mintifi, Acko, BookMyShow



  • Founder: Ravi Mhatre, Barry Eggers, and Peter Nieh

  • Year of Inception: 2000 (2007 in India)

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology, Consumer, Enterprise

  • Investment Value: $3 million - $140 million

  • Deals (as of 2022): 141

  • Notable Portfolio: Setu, Scrut Automation, Rattle, Bhanzu



  • Founder: -

  • Year of Inception: 1961 (2007 in India)

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Consumer, Enterprise, Healthcare

  • Investment Value: $1 million - $75 million

  • Deals (as of 2022): 42

  • Notable Portfolio: Xyzo, Swiggi, Amagi, Finova Capital





  • Founder: Sarath Naru and Raghuveer Mendu

  • Year of Inception: 1997

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology, Life Sciences

  • Investment Value: $3 million - $25 million

  • Deals (as of 2022): 76

  • Notable Portfolio: Acko, 24 Mantra, Portea, MoEngage



  • Founder: Eyal Rabinovich

  • Year of Inception: 1969

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology, Consumer, Financial Services, Healthcare

  • Investment Value: $10 million - $100 million

  • Deals (as of 2022): 61

  • Notable Portfolio: Oziva, MoEngage, Jiffy.ai, Ekincare, PharmEasy



  • Founder: Jinesh Shah, Mark Eliad Kahn, Atish Babu

  • Year of Inception: 2010

  • Stage: Seed, Series A, Series B, Series C

  • Focus: AgriFoodTech, Farmer Platforms & FinTech, B2B Agri Marketplace, Farm to Consumer Brands, Precision Agriculture, Post Harvest Technologies, Agrifood Life Sciences

  • Investment Value: $1 million - $12 million

  • Deals (as of 2022): 101

  • Notable Portfolio: Eruvaka, Mitra, Agrim, Krishify



  • Founder: Ash Lilani and Suresh Shanmugham

  • Year of Inception: 2012

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology

  • Investment Value: $1 million - $15 million

  • Deals (as of 2022): 65

  • Notable Portfolio: Blue Stone, Lendingkart, Big Basket, Paytm



  • Founder: Japan Vyas and Ravinder Vashist

  • Year of Inception: 2018

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Consumer

  • Investment Value: $1 million - $10 million

  • Deals (as of 2022): 20

  • Notable Portfolio: RBL Bank, NSE, Smytten, Accio Robotics, Go Desi,





  • Founder: Nikhil Vora

  • Year of Inception: 2014

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Consumer

  • Investment Value: $2 million - $16 million

  • Deals (as of 2022): 62

  • Notable Portfolio: Bombay Shaving Company, Cult.fit, Just Dogs, Shop Kirana



  • Founder: Abhijeet Kumar and Harshad Lahoti

  • Year of Inception: 2009

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Technology

  • Investment Value: $1 million - $10 million

  • Deals (as of 2022): 96

  • Notable Portfolio: Exotel, Testbook, BabyChakra, NewsBytes



  • Type: Corporate VC

  • Year of Inception: 2017

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Consumer EduTech Enterprise FinTech Frontier Tech Health Tech Logistics PropTech Transportation

  • Investment Value: $3 million - $250 million

  • Deals (as of 2022): 407

  • Notable Portfolio: Flipkart, GoMechanic, Oyo, Grofers



  • Type: Corporate VC

  • Year of Inception: 2005

  • Stage: Seed, Series A, Series B, Series C

  • Focus: Retail, FMCG, Consumer Durables, Realty, Digital and Mobile, E-Retail, Health & Wellness, Financial Services, Consumer Services

  • Investment Value: $3 million - $25 million

  • Deals (as of 2022): 588

  • Notable Portfolio: MobiKwik, Faasos, SnapDeal, Flipkart



  • Type: Government VC

  • Year of Inception: 1999

  • Stage: Seed, Series A, Series B, Series C

  • Focus: MSME

  • Investment Value: $1 million - $30 million

  • Deals (as of 2022): 54

  • Notable Portfolio: Bill Desk, SuperZop, OmniActive, Momspresso





Early to Late Stage VCs in India


The venture capital firms listed below invest in early to later-stage VCs in India, including from Series A up to Series C and excluding startups at the Seed stage. All quoted investment ranges are in US Dollars unless otherwise stated.



  • Founder: Vishal Mehta and Venky Natarajan

  • Year of Inception: 2002

  • Stage: Series A, Series B

  • Focus: Finance, Health, Climate, Agri/Food & Beverages

  • Investment Value: $4 million - $45 million

  • Deals (as of 2022): 39

  • Notable Portfolio: Live Well, Idrishti, Mintifi, Vistaar



  • Founder: KP Balaraj, Sumir Chadha, SK Jain, and Sandeep Singhal

  • Year of Inception: 2000

  • Stage: Series A, Series B, Series C

  • Focus: Technology

  • Investment Value: $25 million - $200 million

  • Deals (as of 2022): 42

  • Notable Portfolio: Fraazo, CEAT, Astral, Flipkart, IFB, Britannia, Videocon, VMart



  • Founder: Neeraj Bhargava

  • Year of Inception: 2011

  • Stage: Series A, Series B, Series C

  • Focus: Digital Consumption, Business Services (Social, Mobile, Analytics and Cloud)

  • Investment Value: $1 million - $30 million

  • Deals (as of 2022): 26

  • Notable Portfolio: MedGenome, Pepperfry, OfBusiness, Zivame, Fresh Menu



  • Founder: Henry Phipps

  • Year of Inception: 1911 (2006 in India)

  • Stage: Series A, Series B, Series C

  • Focus: Software, Technology, Consumer, Enterprise, Healthcare

  • Investment Value: $50 million -$300 million

  • Deals (as of 2022): 49

  • Notable Portfolio: Innoviti, PharmEasy, LivSpace, Pepper Content






  • Founder: Narayana Murthy

  • Year of Inception: 2010

  • Stage: Series A, Series B, Series C

  • Focus: E-commerce, Technology, Financial Services, Consumer Goods, Healthcare, Education

  • Investment Value: $2 million - $40 million

  • Deals (as of 2022): 21

  • Notable Portfolio: Udaan, NSE, Udemy, Marcellus



  • Founder: Sandeep Murthy and Siddharth Talwar

  • Year of Inception: 2014

  • Stage: Series B, Series C

  • Focus: Consumer

  • Investment Value: $5 million - $240 million

  • Deals (as of 2022): 49

  • Notable Portfolio: Truecaller, Cityflo, Bombay Shirt Company, PayMate



  • Type: Corporate VC

  • Year of Inception: 2000

  • Stage: Series A, Series B, Series C

  • Focus: 5G, AI, Automotive, Consumer, Enterprise & Cloud, IoT, XR/Metaverse

  • Investment Value: $15 million - $105 million

  • Deals (as of 2022): 18

  • Notable Portfolio: Boat, Ola, Capillary, FabHotels, Ninjacart





Closing Thoughts on Venture Capitalist Firms in India


As seen in this article, there are plenty of venture capitalist firms in India, and this is by no means an exhaustive list. As of 2022, there are over 800 venture capitalists that are operational in India. This makes choosing the right venture capital firm to partner with all the more challenging.


When making your selection, do investigate the venture capital firms and their track record. It is important to know the types of firms that the VC is experienced in and give considerable thought to the terms that the VC offers. Make sure that your vision is aligned with their ideals, as oftentimes startups would be required to concede a certain level of decision-making power to the VCs. Consider your objective and the type of support you might need that extends beyond financials. Most importantly, consider a VC who can help you in fulfilling your firm's future growth ambitions. To begin, do utilize the information in this article as the groundwork for your research into a suitable venture capitalist.












Comentários


bottom of page