Apr 08, 2024

Filter Capital announces final close of Rs. 800 crores ($97M) for its inaugural fund

Focus sectors include SaaS, tech services as well as technology-led businesses across consumer, financial and business services

Fund 1 received commitments from a diverse investor base, including international and domestic Limited Partners (LPs)

8th April 2024: Filter Capital, a technology-focused growth investment firm based in Mumbai, announced the successful final close of its first fund – Filter Capital India Fund I. The fund has secured a total corpus of 800 crores ($97M). Filter Capital has received capital commitments from a diverse investor base, with 60% originating from domestic sources and the remaining 40% from international investors. Leading Indian institutional investors and family offices such as HDFC Fund of Funds, HDFC AMC, SIDBI, SRI Fund, Oister Global, DSP family office, Akash Prakash, the founder of Amansa Capital, and Harsh Jain, the CEO of Dream11 have committed to the fund.

Filter Capital is a growth investment firm that partners with India’s tech entrepreneurs from inflection point to industry leadership. The fund targets opportunities in SaaS and tech services where companies are expanding from India into regional and global markets, as well as technology-led businesses in consumer, financial, and business services, where companies are harnessing special demographics spanning Indian consumers and businesses. Filter Capital will focus on leading/co- leading Series B and C rounds.

The firm’s co-founders Nitin Nayar and Sumit Sinha each have nearly two decades of private equity investment experience. They have worked together for over eight years with a successful track record helping build technology leaders in India. They joined hands to leverage this collective expertise to build Filter Capital into a leading growth investment firm focused on technology-led businesses in India.

Commenting on the fund closing, Nitin Nayar, Co-founder and Managing Partner, Filter Capital said, “Over the coming decade, technology’s impact on the consumer and business activity in India will be tremendous. Our country has a vibrant start-up ecosystem and an active VC community to support early-stage businesses as well as deep public markets and private equity to support more mature companies. However, there are few investment firms focused on helping today’s breakout technology companies to become tomorrow’s industry leaders. This is the opportunity for Filter Capital. We are privileged to partner with a sophisticated and experienced group of investors who are aligned with our vision to build a leading technology-centric growth investment platform in India.”

Sumit Sinha, Co-founder and Managing Partner, Filter Capital, said, “We seek to partner with capable entrepreneurs whose businesses have reached an inflection point and are poised for rapid growth. We are attracted to business models with clear product-market fit, competitive differentiation, and robust unit economics. Through our capital, networks, and expertise, we can help our portfolio companies scale and build enduring businesses.”

The fund has so far invested over 30% of its corpus across four investments in SaaS, consumer technology, and B2B services. The firm’s current portfolio companies include Capillary Technologies, an enterprise loyalty SaaS provider, Chalo Mobility, a bus mobility platform, LoadShare Networks, an e-commerce logistics services firm, and THB, an Asia-focused healthcare enterprise SaaS company.