Top 20 VC Funds of India

Did you know that India has emerged as the third-largest startup ecosystem in the world? India has around 1,17254 DPIIT-recognized startups as of December 2023.

These startups thrive in this competitive market as renowned venture capital companies in India support them.

A venture capital company invests in startups in different growth stages, such as early stage, pre-seed stage, or growth stage. They support them financially and mentor them to profit.

In this blog, GrowthJockey has reviewed the top 20 venture capital companies helping Indian startups. Here’s a look at them:

The Top 20 VC Funds in India

1. Accel India

Accel is a private equity company started in 1983, with headquarters in Palo Alto, California, United States. In India, Accel started operating in 2008 and has invested in many notable companies.

It is an early-stage VC fund in India with a track record of investing in 17 startups in 2023. Accel India’s focus areas are:

• E-commerce

• Travel tech

• Insure tech

• SaaS (Software as a Service)

• B2B marketplaces

• Logistics

• Foodtech

• EdTech

• D2C

It is one of India's earliest venture capital investors that has supported major companies like Flipkart, Freshworks, Swiggy, Vedantu, and many more.

During investment, Freshworks had only 6 employees. Today, Freshworks boasts more than 2,500 employees and a valuation of $3.5 billion.

2. Blume Ventures

Blume Ventures was established in 2010, and it is also a player in the early-stage startup ecosystem. It is a Bengaluru-based venture capital firm that typically gets 3-5x ROI. Its venture capital investments provide seed and pre-series A funding to companies.

This venture funding company’s focus areas are:

• AI and ML

• AdTech

• Agritech

• Manufacturing

• SaaS

• Beauty

• Healthcare

It has an impressive list of startups that grew big, such as GreyOrange, Carbon Clean, Sugar Cosmetics, and Ola. One success story is Meesho, which was backed by Blume Ventures. It currently helps millions of women sell their products online.

3. Matrix Partners India

Matrix Partners India has been affiliated with the global Matrix partners since 2006. It is a VC fund in India that focuses on the enterprise and consumer market at three levels:

• Seed

• Early

• Early-growth

It has a portfolio of 162 companies and manages over $1 billion. The company mostly invests in startups across:

• Consumer internet

• FinTech

• B2B

• SaaS

Their impressive portfolio includes companies like Razorpay, Ola Electric and Practo. After Matrix Partner’s investment, Razorpay now handles approximately $5 billion annually.

4. Kalaari Capital

Kalaari Capital was founded in 2006. It is an early-stage, tech-focused venture capital firm based in Bengaluru. Kalaari Capital stands out for its founder-friendly approach. It provides startups with capital and mentorship programs and supports their scaling.

They mainly deal with companies in:

• IT

• Mobile

• Healthcare

• SaaS

• E-commerce

• Media

• Consumer tech

Cure. fit and Myntra are the companies that have flourished due to Kalaari Capital’s VC funding. Myntra has grown since its launch in 2007 and increased its value to $330 million when Flipkart acquired it.

5. Stellaris Venture Partners

Stellaris Venture Partners is one of the formidable venture capital companies that was established in 2016. They focus on:

• SaaS

• Financial services

• B2B commerce

• EdTech

• EV

• Healthcare

They recently funded India’s leading skincare brand, Mamaearth. They have also supported Mfine, Propelled, Whatfix, Zouk, and many more.

6. Sequoia Capital India

Sequoia Capital India is a venture capital investment company established in 2000. It primarily focuses on companies working on:

• Technology

• Consumer Internet

• Healthcare

• FinTech

• Education

Its portfolio includes Zomato, BYJUS, Unacademy, Dailyhunt, CarDekho, and more. Unacademy’s rapid growth shows Sequoia Capital India's prowess.

7. Nexus Venture Partners

Nexus Venture Partners emerged in 2006 and is famous for supporting product-first companies. It has $2.6 billion under management. The venture capital company zeroes in on companies operating in:

• AI

• Fintech

• Commerce

• SaaS

It has a robust portfolio with Delhivery, Postman, and Druva. Delhivery now serves 26.5k businesses.

8. SAIF Partners

SAIF Partners India is a leading venture capital company providing capital to Asian companies. But it is managed by Elevation Capital in Gurgaon. SAIF Partners is interested in investing in companies working in:

• Internet & TMT

• Healthcare

• New Materials

• Clean Technology

Their most notable investments include ShareChat, Paytm, Chaayos, Mosaic Wellness and many more.

9. Norwest Venture Partners

The emergence of Norwest Venture Partners goes way back to 1961 in California. Their VC funding is invested in early to later-stage US, Indian, and Israeli companies. They have over 60 years of experience in funding companies in:

• SaaS and enterprise

• Consumer Tech

• FinTech

• B2B Tech

• Healthcare

• Technology IT services

• Consumer Products

Their robust portfolio includes renowned names like Duroflex, Indusland Bank, Finnova Capital, Xpressbess, and Kotak Mahindra Bank.

10. VenturEast

Venture East has partnered with newer startups since 1997 and manages around $325+ million. The best part about this VC funding company is that it segregates funds and teams for its different focus areas:

• Life science

• Healthcare

• Technology

They have invested for 20 years and supported businesses such as Acko, Portea, Edge Networks, Orion Edutech, IMEDX, and many more.

11. Venture Highway

Venture Highway is one of the venture capital companies that also operates in Bengaluru, India. It was founded in 2015 and specialises in guiding early-stage startups. The industries they focus on are:

• FinTech

• SaaS

• Consumer tech

They have an average investment size of $1 million, and its diverse portfolio has many notable names under its wings, such as Meesho, Cars24, Headout, Airmeet, Cityfurnish, Emitrr, Meragi and several others.

Vidit Aatrey, co-founder at Meesho, thanks Venture Highway for its strategic inputs, proactive involvement, and networking support.

12. Kae Capital

Kae Capital is a renowned VC fund in India, founded in 2012. They have been funding startups in India for over a decade. They have two headquarters in Mumbai and Bengaluru.

Kae Capital mostly funds in pre-seed and pre-series A stages. They have had 14 successful exits out of the 82 startups they invested in. They mainly focus on:

• Technology

• Healthcare

• Consumer Services

• Cloud

• E-commerce

• Education

Its notable investments include Tata 1MG, Zetwerk, Porter, Wysa, 1K, and more.

13. Ankur Capital

Ankur Capital was founded in 2014 with headquarters in Mumbai and Bengaluru. They focus on companies operating in:

• Technology

• Climate and energy

• Deep science

• Agriculture

• FinTech

They specialise in seed funding, mentoring, networking, and more. They have backed startups like JoshTalks, Rupifi, Captain Fresh, Big Haat, and more.

14. Omidyar Network India

Omidyar Network India is a venture capital investment company based out of Mumbai. They are known to invest in early-stage startups that deal in early-stage enterprises and NGOs combating India’s problems.

Omidyar works with institutions that focus on:

• Advancing Cities

• Digital Society

• Education & Employability

• Emerging Technologies

• Financial Inclusion & Well-being

• Property Inclusivity

They have a robust portfolio of well-known companies, such as DrinkPrime, Healofy, Healthkart, Goodera, iMerit, and Quikr.

15. Orios Venture Partners

Orios Venture Partners is known as the technology VC funding company in India. It was founded in 2013 and actively started investing in 2021. Orios Venture Partners helps startups with seed investing, marketing, branding, and more.

They mostly invest in startups that work in these sectors:

• B2C firms

• Software

• Hardware

• Technology

They have invested in companies such as Ixigo, Country Delight, Miss Malini, Mobikwik, Unnati, Zostel, and more.

16. IvyCap Ventures

IvyCap Ventures nurtures early-stage ventures to kickstart their businesses. It was established in 2011 and is one of the leading homegrown VC funds in India. Its headquarters are in Mumbai, and its offices are in Bengaluru, Delhi, the US, and Singapore.

They fund companies in the early-to-growth stage that operate in:

• Consumer Tech

• HealthTech

• FinTech

• EdTech

• SaaS

Some companies that thrived after partnering with IvyCap Ventures are Purplle, Bewakoof, GradRight Biriyani by Kilo and more.

17. Lightbox Ventures

Lightbox Ventures was founded in Mumbai in 2014 and has $450 million in assets. Its team consists of entrepreneurs, technologists, and investors who have been investing for the last 12 years.

Lightbox Ventures invests in companies working in:

• Retail

• Software

• Healthcare

• B2B

• B2C

Of the many renowned companies in their portfolio, the mentionable ones are Furlenco, Nua, Amaha, Dunzo, Rupee, Melorra and more. Reliance Jio acquired a company called Embibe for $180 million in 2019.

18. Artha India Ventures

Artha India Ventures is a venture capital company that invests in seed, pre-seed, and series-A companies. It helps startups thrive in this competitive landscape by mentoring and guiding them through their initial steps.

Their focus area lies in companies dealing with:

• Hospitality

• FinTech

• Travel

• Blockchain

• Data Analytics

• EdTech

They have curated a robust portfolio consisting of well-known companies like VPhrase, Instasafe, BookMyCab, Lyft, Exotel, and more.

19. Gemba Capital

Gemba Capital is a VC funding company that invests around $200,000-$250,000 per company. It was established in 2018 in Bengaluru and specialises in angel investing, early-stage, and venture capital.

Their focus areas are mostly:

• AgTech

• FinTech

• EdTech

• HealthTech

• Consumer tech

Some known companies they mentored are Plum, Clickpost, Finly, SleepyCat, MyHQ, Wysh and ClearDekho.

20. Endiya Partners

Endiya Partners, founded in 2015, is headquartered in Hyderabad and manages around $100 million in assets. It provides monetary support and guides startups in their branding, marketing, business model, and team development.

They are a venture capital company that focuses on companies working in the following sectors:

• Deep tech

• FinTech

• AI and mobility

• Healthcare

• Digital health

• Life science

Their robust portfolio includes companies like Cell Propulsion, Cult. fit, Ekincare, Darwinbox, Gigforce, Mylo, and more.

Bottom Line

This blog highlights India’s vibrant startup ecosystem and 20 venture capital companies.

These firms support startups in the early, pre-seed, series A, and growth stages. Their strategic investments, mentorship, and global networks have not only accelerated the growth of many startups.

For instance, companies like Flipkart, OYO, TATA 1MG, and Swiggy have reached new heights and continue to shine bright.

Looking at these VC funds in India, we can only say that India’s startup growth will skyrocket.

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FAQs

1. Which cities are known as the venture capital cities of India?

The following four cities are known as the venture capital hub of India they are:

• Bengaluru

• Mumbai

• Pune

• Hyderabad

2. Who are venture capitalists?

Venture capitalists form partnerships to pool funds to support smaller startups. In exchange, they ask for equity or stakes in the companies they invest in. If the startup successfully returns the invested money, the company can exit the venture capital companies.

3. What kind of company is a venture capital company?

A venture capital company, also known as private equity or financing, supports startups with long-term growth potential.