Multi-stage VC · Seed–Growth · Mumbai
Aavishkaar Capital
Verified by Women Can StartupSnapshot
- Firm type
- Multi-stage VC
- Founded
- 2001
- Headquarters
- Mumbai
- Fund / AUM
- ~$500M AUM across equity funds; part of the Aavishkaar Group (~$1.2B AUM)
- Geographies
- India
- Leads rounds
- Yes
- Last updated
- 23 July 2026
About Aavishkaar Capital
One of India's oldest and largest impact investors, backing early-to-growth businesses that serve underserved populations across financial inclusion, agriculture and essential services.
Aavishkaar Capital is a multi-stage vc based in Mumbai, founded in 2001, investing in India. It backs companies at the Seed, Series A and Growth stages, with a focus on Financial inclusion, Sustainable agriculture, Essential services and Clean energy. It usually leads the rounds it joins.
On fund size, the firm reports ~$500M AUM across equity funds; part of the Aavishkaar Group (~$1.2B AUM). Its portfolio includes Equitas Small Finance Bank, CreditAccess Grameen, InI Farms and Milk Mantra.
Investment focus
Notable investments
4 of Aavishkaar Capital’s better-known bets, grouped by sector. Names in coral open the company’s profile or founder story on this site.
Financial services
Microfinance
Agriculture
Dairy
How to pitch Aavishkaar Capital
Practical pointers drawn from what Aavishkaar Capital says it backs. Always confirm the current focus and process with the firm before you reach out.
- They invest at Seed, Series A and Growth. Approach them when your company is with an early product and first signs of traction, through to companies already scaling with strong metrics.
- Their focus is Financial inclusion, Sustainable agriculture, Essential services and Clean energy, so lead with why you fit there.
- The strongest way in is a warm introduction, ideally from a founder they have backed, such as Equitas Small Finance Bank, CreditAccess Grameen and InI Farms.
- You can find the team and their current focus on their website, linked below.
Partners
Vineet Rai
Founder
Anurag Agrawal
Partner & CEO
Sushma Kaushik
Partner
Tarun Mehta
Partner
Website & links
Frequently asked questions
- What stage does Aavishkaar Capital invest at?
- Aavishkaar Capital invests at the Seed, Series A and Growth stages.
- What sectors does Aavishkaar Capital invest in?
- Aavishkaar Capital focuses on Financial inclusion, Sustainable agriculture, Essential services and Clean energy.
- Which companies has Aavishkaar Capital invested in?
- Notable investments include Equitas Small Finance Bank, CreditAccess Grameen, InI Farms and Milk Mantra. See the full list on this page.
- Who are the partners at Aavishkaar Capital?
- Key people include Vineet Rai (Founder), Anurag Agrawal (Partner & CEO), Sushma Kaushik (Partner) and Tarun Mehta (Partner).
- Where is Aavishkaar Capital based?
- Aavishkaar Capital is headquartered in Mumbai.
- Does Aavishkaar Capital invest in women founders?
- Aavishkaar Capital is a generalist fund and backs strong founders regardless of gender, women founders included. For funds with an explicit women-founder mandate, see our women-focused funds list.
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