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Top 50 Most Active Venture Capital Firms in India 2025

  • Smruti Satabdi
    • Top 40 venture capital firms in India

    If you are an entrepreneur looking to start a new D2C business, you must be looking for ways to raise capital. With multiple sources of funding available in the market today, identifying the right funding partner is both easy and difficult— Easy because (almost) all data is readily available on the internet for you to see. Difficult because you have tons of data to go through and decide. Sigh!

    Venture capital firms in India today are highly credited for enabling businesses to become unicorns. But how do you identify the best partner for your D2C business? To make it easier, we have come up with a list of the top 40 most active venture capital firms in India in 2024. So scroll below to find the contact details of key people in these VC firms. 

    Don’t want to read a long post? Download the list of 100 D2C-focused venture capitalists. We hope this helps you accelerate your funding efforts.

    Looking for capital to fund your business? Velocity provides working capital of up to INR 5 Cr to digital-first businesses. There is no equity dilution or collateral needed for availing these funds.  Having disbursed over ₹800 crores, we have served 1,000+ brands by fueling their growth with accessible capital. Learn more about it here.

    You can learn more about revenue-based financing in our ultimate guide to revenue-based financing. 

    What are venture capital firms and how do they work?

    A venture capital firm is an entity that raises funds to date from wealthy investors who are looking for high-risk, high-return opportunities to grow their wealth. These funds to date, known as venture capital funds to date, are then invested in young startups for a few years, throughout the various stages of their operations. In most cases, venture capital firms start funding businesses from the seed round or the startup stage, up until they are ready to go public. This can take anywhere between 7 to 10 years. What is interesting is that venture capital firms don’t invest only in terms of cash, but also in terms of mentoring and strategizing for young startups. The venture capitalist is usually added to the board of the business and has the power to influence decisions that are in favor of the business.

    Typically, venture capital firms identify and target certain high potential industries and scout for startups that show promising growth. Some of the most-funded sectors in India are consumer tech, fintech, edtech, and SaaS. You can learn more about the basics of venture capital in our latest blog post, “What is Venture Capital and How Does it Work?”

    When evaluating venture capital (VC) funds, consider the following factors:

    Portfolio of Companies:

    Funding Size:

    Track Record of Success:

    Sector Focus:

    Network Strength:

    By carefully considering these factors in a structured manner, investors and entrepreneurs can gain a comprehensive understanding of a VC fund’s capabilities, resources, and potential for success, facilitating informed decision-making when seeking investment or partnership opportunities.

    Top 40 Active Venture Capital Firms in India categorized by investment stage

    While there are hundreds of venture capital firms supporting startups left and right, here are the most active venture capital firms in India dominating the seed, early, and growth, investment landscapes(actively investing in 2024).

    Seed Stage

    Seed stage VC funding refers to the initial capital invested in a startup during its nascent phase to help validate the business idea, build a minimum viable product, and kickstart operations.

    Venture Highway

    Venture Highway is a venture capital that is interested in early-stage venture investments. Founded in 2010, the firm focuses on IT startups. Meesho and CureLink are some of its notable investments. Venture Highway has raised a total of $78.6M across 2 funds to date, their latest being Venture Highway Fund II.

    Zodius Capital

    Operational since 2011, Zodius Capital invests in India-centric businesses engaged in big data and analytics, digital media and commerce, and education. Their portfolio is made up of companies like Zivame, Pepperfry, and more. Zodius Capital has raised a total of $155.3M across 2 funds to date, their latest being Zodius Technology Fund II. 

    Qualcomm Ventures

    Qualcomm Ventures is the investment department of Qualcomm Inc. Founded in 2000, the fund has over 150 active portfolio companies. Some of its most prominent investees are Ola, Ninjakart, Zoom, and more. They primarily invest in consumer tech, IoT, automotive, and AI. Qualcomm Ventures has raised a total of $550M across 4 funds to date, their latest being Snapdragon Metaverse Fund.

    Ascent Capital

    Founded in 2001, Ascent Capital is an India-focused firm propelling startups in their early stage. Their expertise lies in the tech, e-commerce, healthcare, financial services, consumer brands and infrastructure sectors. Their portfolio includes the likes of Big Basket, MyGlamm, Cure.fit, etc.

    Kae Capital

    Kae Capital is a sector agnostic firm that supports startups in the early stage. Its portfolio is varied and includes firms like 1MG, Nua, Porter, and more. Kae Capital has raised a total of $53M across 2 funds to date.

    Elevation Capital 

    Elevation Capital is an early-stage venture capital firm that focuses on consumer products and services, technology, media, education, telecom, financial services, healthcare, travel and tourism, and manufacturing. Founded in 2011, their portfolio includes high-growth startups like Meesho, BookMyShow, FamPay, etc. Elevation Capital has raised a total of $670M in a single venture fund, Fund VIII. 

    100X.VC

    100X.VC is the first venture fund to invest in early-stage startups using India SAFE Notes that are an alternative to convertible notes used for investments. Founded in 2019, the firm invests in femtech, wellness, agritech, cyber security, and hrtech sectors. Paperplane, Broomees, and WayFr are some of the businesses backed by 100X.VC.

    Antler India

    Antler India is a global early-stage VC investing in the E-commerce, edtech, mobility, and fintech sectors. Its portfolio includes the likes of Flint, Codedamn, Payd, and more. It is a part of Antler, which has raised a total of $75.7M across 4 funds to date. 

     Endiya Partners

    Endiya Partners, founded in 2015, invests in seed stage companies with a primary focus on Digital Transformation and Healthcare & Life-sciences. Their portfolio includes the likes of Qapita, Ekincare, Darwinbox, among others. Endiya Partners has raised a total of $100.7M across 2 funds to date, their latest being Endiya Partners Fund II.

    Stellaris Venture Partners

    Founded in 2016, Stellaris Venture Partners is an investment firm specializing in early-stage ventures. Their portfolio focuses on retail, healthcare, logistics, fintech, and consumer technology sectors. Mamaearth, Vogo, and Slintel are some of the giants backed by Stellaris Venture Partners. Stellaris Venture Partners has raised a total of $275M across 2 funds to date.

    Mayfield Fund

    Mayfield, also known as Mayfield Fund, is a US-based venture capital firm that focuses on early-stage to growth-stage investments in enterprise and consumer technology companies. Their portfolio includes the likes of Talview, SimpliLearn, MilkBasket, Licious, and more. Mayfield Fund has raised a total of $2.6B across 9 funds to date, their latest being Mayfield Select II.

    Jungle Ventures

    Jungle Ventures is a Singapore-based, entrepreneur-backed venture firm that funds to date and helps startups scale across the Asia Pacific. It invests in global startups that are solving problems relevant to Asia Pacific markets. It mainly focuses on seed and early-stage venture investments. Their portfolio consists of startups across e-commerce, digital media, saas, fintech, big data, analytics, and enterprise domain. Zipdial, Ekstop, Pokkt, Milaap, Livspace, Sociolla, and Pomelo are some of the businesses backed by Jungle Ventures. Jungle Ventures has raised a total of $1.2B across 4 funds to date.

    India Quotient

    Founded in 2012, India Quotient is an early-stage venture capital firm focused on identifying and supporting bold entrepreneurs across various sectors, including consumer brands, SaaS, and fintech.

    3one4 Capital

    3one4 Capital is an early-stage venture firm that backs high-potential Indian startups, focusing on tech, fintech, and consumer brands. The firm is known for its hands-on approach to scaling businesses.

    Prime Venture Partners

    Prime Venture Partners is a seed-stage venture firm that partners with founders early on to help them build scalable and sustainable businesses in fintech, SaaS, and consumer tech.

    Ankur Capital

    Ankur Capital is an early-stage investor focusing on startups that use technology to create a significant impact in sectors like agritech, healthcare, and consumer brands.

    Early stage

    Early stage VC funding is typically the first round of institutional capital that a startup raises after the seed round. It provides funds to expand the team, accelerate product development, and start initial marketing and customer acquisition efforts.

    Fluid Ventures

    Fluid Ventures is a SEBI registered early stage, Direct to Consumer focused venture capital fund that invests in Indian startups. Founded in 2020, the firm’s current portfolio focuses on the FMCG and consumer sectors. Fluid Ventures has raised a total of ₹500M to date in a single venture fund, Fluid Ventures Fund I. 

    Kalaari Capital

    Kalaari is a $160 million venture capital fund with a strong advisory team in Bangalore investing in early-stage, technology-oriented companies in India. The notable investment portfolio of Kalaari Capital includes Cure.fit, SimpliLearn, Dream11, Haptik, MilkBasket, and more. Kalaari Capital has raised a total of $479M across 3 funds to date, their latest being Fourth India-Dedicated Fund.

    Z47

    Matrix Partners India is a private equity and venture capital firm that invests in consumer technology, enterprise, fintech, healthcare, Edtech, etc. A part of Matrix Partners, the firm’s investments include Chumbak, Country Delight, Dukaan, among others. Matrix Partners India has raised a total of $721M across 2 funds to date, their latest being Matrix Partners India III.  

    Nexus Venture Partners

    Founded in 2006, Nexus is a US-based venture capital firm that seeks to invest in consumer products, consumer services, information technology, e-commerce, and more. Its portfolio consists of big names like Unacademy, Zomato, OLX, Rapido, etc. Nexus Venture Partners has raised a total of $1.4B across 5 funds to date, their latest being Nexus Ventures V Ltd.

    Axilor Ventures

    Axilor Ventures is an early stage seed fund and startup accelerator founded by Infosys co-founders Kris Gopalakrishnan and SD Shibulal among others. They primarily fund startups in the consumer internet, enterprise saas, healthcare technology, artificial intelligence, fintech and industrial IoT sectors in their early stage. Their portfolio includes the likes of EnKash, Womaniya, and more. Per Cipherbio, the firm has raised a fund of $21M to date.

    Artha India Venture Fund

    Artha India Ventures is an early-stage venture fund founded in 2013. They have a diversified portfolio with investments in fintech, retail and consumer tech, e-commerce, and logistics. Their portfolio includes the likes of Talview, Purplle, Goodloans, and more. Artha India Ventures has raised a total of ₹2.2B in a single venture fund, Artha Venture Fund I. 

    Fireside Ventures

    Fireside ventures specialize in early-stage and seed-stage ventures. Founded in 2017, the firm focuses primarily on consumer brands. Their portfolio includes the likes of Boat, Mamaearth, Slay Coffee, Bombay Shaving Company, and more. Fireside Ventures has raised a total of $152.1M across 2 funds to date.

    Gemba Capital 

    Gemba Capital is an investment firm that specializes in post-seed startups that are looking for angel/bridge and pre-series A funding. Their portfolio focuses on consumer tech, SaaS. fintech, and deep tech, and includes the likes of Plum, Sleepy Cat, Airmeet, and more.

    Lightbox Ventures

    Lightbox is an early-stage VC firm with investments in the healthcare, fintech, commerce, and agritech sectors. Their portfolio is predominantly India-focused and includes Dunzo, PayMate, Magic Bus, Furlenco, Rebel Foods (formerly Faasos), Melorra, and Cleartrip. Lightbox has raised a total of $398.4M across 4 funds to date.

    Orios Venture Partners 

    Orios Venture Partners is an early-stage financing firm in India. Its major focus is on the consumer, agritech, FMCG, and retail sectors. Yumlane, Country Delight, Miss Malini, Leher, and PharmEasy are some of the businesses backed by Orios Venture Partners. Orios Venture Partners has raised a total of $230M across 3 funds to date.

    Sixth Sense Ventures

    Sixth Sense Ventures is India’s first domestic consumer-centric venture fund, founded in 2014. They primarily focus on the retail and FMCG sectors. Their portfolio is made up of businesses like Phool, Just Dogs, Bombay Shaving Company, and more. Sixth Sense Ventures has, to date, raised a total of $67.7M in a single venture fund.

    Agility Ventures

    Founded in 2020, Agility Ventures is a multi-stage investment firm. The firm focuses on the FMCG, tech and services sectors. Its portfolio contains the likes of Gobbly, Spice Story, Funk Feets, and more. Agility Ventures has raised a total of ₹800M in a single venture fund to date.

    Eight Roads Ventures

    Eight Roads Ventures is a global venture capital firm founded in 1969. It invests in early-stage startups in the consumer, enterprise, fintech, and healthcare sectors. Some of the giants backed by Eight Roads Ventures are Alibaba, Chai Point, Oziva, and PharmEasy. Eight Roads Ventures has raised a total of $2.8B across 9 funds to date.

    Nirvana Ventures

    Nirvana Venture Advisors invests in early-stage and market-leading companies (with established business models & market presence) in the fast-growing Indian internet and mobile segments. Their portfolio includes Unbxd, Jombay, and UrbanPro. Nirvana Venture Advisors has raised a total of $40M across 2 funds to date.

    Saama Capital

    Saama Capital is an India-focused venture capital firm investing in consumer brands, fintech, and SaaS startups. It provides funding to companies with a strong product-market fit.

    Huddle Ventures

    Huddle Ventures is a startup accelerator and early-stage investor providing hands-on support to consumer brands, helping them grow with mentorship and capital.

    Growth stage

    Growth stage VC funding is provided to established startups that have achieved product-market fit, gained significant traction, and are looking to scale operations rapidly. These funds fuel expansion into new markets, enhance product offerings, and support aggressive growth initiatives.

    Sequoia Capital India

    Sequoia Capital is an American venture capital firm established in 1972. The firm is headquartered in Menlo Park, California. They were one of the early investors in big companies like Apple, Google, Dropbox, and WhatsApp. In 2006, they formed a subsidiary, Sequoia capital India which specializes in investment in startups with high growth potential. Some of their notable investments in India include Justdial, Byju’s, Freecharge, Practo, and CarDekho. Sequoia capital India has raised a total of $3B across 8 funds to date. The latest fundraise of $195M was announced on March 25, 2021. 

    Blume Ventures

    Blume Ventures is a venture capital firm in India. Founded in 2011 by Karthik Reddy and Sanjay Nath, it invests in early-stage ventures, seed, series A, series B, and debt financing. Its portfolio companies include Instamojo, Dunzo, LBB, and Unacademy. Blume Ventures has raised a total of $378.2M across 6 funds to date, their latest being Blume Ventures Fund IV. 

    VenturEast

    Ventureast is an early and growth-stage fund investing in Technology, Healthcare, Life Sciences, Food/Agri and Cleantech. One of the oldest venture capital firms in India, it has been investing since 1997. Its portfolio includes Acko, Portea, Ekincare, and more. VenturEast has raised a total of $85M in a single venture fund to date.

    Trifecta Capital Advisors

    Trifecta Capital Advisors provide financing to early-stage technology ventures in India. Their well-known investments include Box 8, Cure.fit, and BharatPe among others. They invest mainly in technology, consumer, and healthcare. Trifecta Capital Advisors has raised a total of $586.6M across 4 funds to date.

    Warburg Pincus

    Warburg Pincus LLC is a leading global investment firm focused on growth investing. The firm’s active portfolio focuses on the consumer, energy, financial services, healthcare, industrial & business services, real estate, and technology sectors. Their portfolio includes the likes of Biba, OLA, PVR, etc. Warburg Pincus has raised a total of $97.7B across 20 funds to date, their latest being The Warburg Pincus Asia Real Estate Fund.

    Tiger Global Management

    Founded in 2001, Tiger Global is an investment firm that deploys capital globally in both public and private markets. The firm’s fundamentally oriented investments focus primarily on the global internet, technology, telecom, media consumer, and industrial sectors. Its portfolio includes the likes of Pristyn Care, Slice, Upstox, Spinny, No Broker, and more. Tiger Global Management has raised a total of $44.9B across 10 funds to date, their latest being Tiger Global Private Investment Partners XVI. 

    Roots Ventures

    Roots Ventures is a multi-stage, sector agnostic investment house set up by a founding team with a successful track record and a history of working together across funds and business cycles. Founded in 2018, Roots Ventures has raised a total of $30M in a single fund to date.

    Alpha Wave Global

    Alpha Wave Global is an investment firm that primarily invests in the early seed stage. Its main focus is on customer tech, with investments in businesses like Bounce, Delhivery, Dream11, Lenskart, etc. Alpha Wave Global has raised a total of $10.3B across 2 funds to date.

    IvyCap Ventures

    IvyCap Ventures is an investment firm that was founded in 2011. They invest in consumer tech, software, fintech, health tech, ed-tech, deep-tech, agriculture technology, artificial intelligence and machine learning, SaaS, technology, telecommunications, and media sectors. Their portfolio includes the likes of Clovia, Bluestone, Bewakoof, eShakti, etc. IvyCap Ventures has raised a total of $348.2M across 4 funds to date, their latest being IvyCap Ventures III.

    Omidyar Network India

    Omidyar Network India makes equity investments in early-stage enterprises and provides grants to non-profits. They primarily invest in the fintech, edtech, and digital tech sectors. Their portfolio includes HealthKart, Quikr, Kutuki, etc.

    WestBridge Capital 

    WestBridge Capital is an experienced investment firm focusing primarily on investments in India. It typically invests between £10m and £20m in SMEs. Its portfolio focuses mainly on the consumer, healthcare, and tech sectors and includes businesses like CCD, CEAT, IFB, and more.

     Chiratae Ventures

    Chiratae Ventures is a leading tech venture capital fund focused on enabling entrepreneurs in India. Founded in 2000, the firm invests in the early-stage and seed stage, in businesses in the consumer, software, fintech, and health tech sectors. Their portfolio includes the likes of POPXO, Bounce, Flipkart, eShakti, and more. Chiratae Ventures has raised a total of $637M across 3 funds to date.

    Norwest Venture Partners

    Norwest Venture Partners is a global venture capital firm founded in 1961. It invests in companies across various stages, with a focus on sectors such as Consumer, Enterprise, and Healthcare. The firm has a strong India-focused team and has made significant investments in well-known companies like Pepperfry, Quikr, and Swiggy. Norwest’s recent fund (Fund XV) is a $2 billion global fund.

    A91 Partners

    A91 Partners is a growth-stage investment firm that backs consumer brands and technology companies, supporting their expansion into new markets and scaling operations.

    TVS Capital Funds

    TVS Capital Funds focuses on scaling mid-market consumer and financial services companies in India, providing patient capital and strategic expertise.

    Alteria Capital

    Alteria Capital is India’s largest venture debt fund, providing funding to growth-stage startups, especially in consumer, fintech, and SaaS sectors.

    The Future of Venture Capital in India

    India’s venture capital landscape is evolving rapidly, with promising trends shaping the future of investments in the country. Here’s a look at some key factors driving this transformation:

    Growing Global Interest in Indian Startups

    The success stories of Indian unicorns like Flipkart, Paytm, Byju’s, and Zomato have sparked worldwide interest, boosting confidence in India’s startup ecosystem. Global VC giants such as SoftBank, Tiger Global, and Sequoia Capital are actively investing in Indian startups, a trend that is expected to strengthen as cross-border investments continue to flow in.

    Rising Focus on Deep Tech

    VCs are increasingly betting on deep tech startups that leverage cutting-edge technologies like AI, ML, IoT, blockchain, and robotics. These sectors are drawing significant investments due to their high growth potential and transformative capabilities. Funds such as YourNest Venture Capital are leading the charge by concentrating on deep tech, signaling a broader shift towards technology-driven innovation.

    More Late-Stage Investments

    With numerous Indian startups reaching unicorn status, there’s a notable shift towards late-stage investments. Funds like SoftBank and Sequoia’s Surge are at the forefront of this trend, focusing on companies with established business models and a readiness to scale. This marks a move toward lower-risk investments in more mature startups poised for rapid growth.

    The Rise of Corporate Venture Capital

    Corporates are increasingly setting up venture capital arms to invest directly in startups. This approach helps large companies access innovative solutions while providing startups with essential funding and resources. Examples include the Infosys Innovation Fund, along with active investment arms from Google, Intel, and Qualcomm. Corporate VC activity is expected to gain even more momentum in the coming years.

    Emerging Sectors

    While consumer tech, fintech, and e-commerce continue to attract the bulk of investments, newer sectors are gaining traction. Edtech, healthtech, agritech, and spacetech are witnessing rising interest from investors. For instance, agritech-focused funds like Omnivore are helping to fuel growth in agriculture technology.

    Increasing Focus on ESG Investments

    Environmental, Social, and Governance (ESG) factors are becoming a significant consideration for VCs, who are channeling funds into startups addressing sustainability and social challenges. Firms like Lightbox Ventures are investing in businesses that align with sustainable consumer technology, driven by both investor pressure and the realization that these ventures make sound business sense.

    Government Support and Policy Initiatives

    The Indian government is playing an active role in fostering entrepreneurship through programs like the Startup India campaign and the Fund of Funds for Startups (FFS). These initiatives aim to create a favorable regulatory environment that encourages more VC activity in the country.

    Outlook

    The future of venture capital in India is bright, with increasing investments, a maturing startup ecosystem, and robust government backing. However, challenges such as regulatory complexities, exit opportunities, and the need for more local VC funds still need to be addressed to unlock the sector’s full potential.

    Remember, venture capital firms are not the only source of funding available for your business. If you are looking for a flexible, highly scalable, 100% digital process of raising funds to date that require no equity dilution or any guarantee, we recommend revenue-based financing. This founder-friendly approach lets founders raise funds without diluting equity or providing collateral, and the repayments happen as a percentage of monthly revenue.

    While you consider VC funding as one of the funding options, it’s essential to keep in mind that various alternative financing solutions can cater to your unique business needs. Velocity’s revenue-based finance, for instance, provides a founder-friendly approach, allowing you to raise capital without traditional equity dilution or collateral requirements, with repayments linked to your monthly revenue. Interested to learn more about RBF? Delve in the details of this comprehensive funding approach and its benefits.

    As we approach the end of this discussion, we just wanted to remind you that Velocity is revolutionizing access to growth and working capital for underserved Indian businesses. Through cash flow-based financing, we offer innovative, equity-free, collateral-free, and interest-free funds leveraging business data and online cash flows. Having disbursed over ₹1000 crores, we have served 1,200+ brands by fueling their growth with accessible capital. Click here to understand more about us.

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