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Evolvence India Fund

Fund of funds

Mumbai · Seed–Late Stage · 24 people tracked

Also known as EIF MANAGERS II LIMITED · EIF MANAGERS III LIMITED · EIF MANAGERS IV LIMITED · EIF MANAGERS LIMITED · Evolvence India

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Investment thesis

Evolvence provides a diversified private markets investing platform focused on India, spanning both venture capital and private equity. It builds diversified portfolios by committing capital to top-performing Indian PE and VC funds while also pursuing direct and co-investment opportunities. The firm emphasizes deep sector focus in Consumer, Healthcare, Financial Services and Technology, and leverages one of the widest networks in the Middle East to add value through market-expansion opportunities across its portfolio companies. Backed by a cycle-tested team with extensive private market experience, it maintains long-standing relationships with leading Indian fund managers to access high-quality investment opportunities.

Source: firm website, verified Sep 29, 2026.

Stage
Seed–Late Stage
HQ
Mumbai, IN
Instruments
Equity
Founded
2009
AUM
$700M
Tracked investments
34
Acquisitions
1

Team · 24 people

from the firm's website & curated & public directories
Tooram Gopall· Directorin

What they invest in

from 21 of 34 portfolio companies

Consumer ×6Fintech ×4Enterprise Software ×3Healthtech ×3SaaS ×3Advanced Manufacturing ×2AI & Machine Learning ×2B2B Marketplaces ×2

HQs:India×15United States×3

Who they back

founder profiles across 14 portfolio companies
50%
solo founders
7 of 14 mapped founding teams
28%
repeat founders
of 18 founders with career history

Founding team size:solo founder×72 founders×53 founders×14+ founders×1

Where their founders studiedfrom 17 founders with education data

Indian Institute of Technology, Delhi ×2Sri Venkateswara University ×2University of Madras ×2University of Mumbai ×2

What their founders studiedfrom 18 founders with field-of-study data

Engineering ×10Computer Science ×4Finance & Accounting ×3Business & Management ×2

Where their founders worked beforefrom 18 founders with career history

Oracle ×3Zoho Corporation ×3Freshworks ×2

4 hold an MBA (of 20 with degree data)

Investments · 34 tracked

founders shown can be your intro path

By year:2024 · 32021 · 12019 · 26 dated

Agro Staragrostar.inin𝕏

AgroStar builds technology solutions for Indian farmers, combining agricultural inputs, crop care products, and farm implements with digital platforms and farmer-focused applications.

AgTechB2B MarketplacesData & InfrastructureIndia, IN

Shardul Sheth(CEO & Co-Founder)inSitanshu Sheth(COO & Co-Founder)in

Co-investorsAavishkaar Venture Management Services Private LimitedAccelAlteria CapitalChiratae VenturesRabo Corporate VenturingStride Ventures+1 more

ANSRansr.comin𝕏May 2021 · $15M

ANSR provides managed teams and talent-as-a-service solutions to help organizations source and deploy skilled personnel for their business needs.

Enterprise SoftwareFuture of WorkHR TechSaaS

Lalit Ahuja(Founder)indarin narayana(Founder)in

Co-investorsAccelAccenture Ventures

Capacitecapacite.inin

Capacit'e Infraprojects is an infrastructure company focused on sustainable and inclusive growth through strong corporate governance principles.

Construction TechPropTechMumbai, IN

Capillary Technologiescapillarytech.comin𝕏

Capillary Technologies provides a managed SaaS loyalty management and customer engagement platform for enterprise brands, offering program design, omnichannel communication, analytics, a consumer data platform, and a rewards network.

Marketing TechRetail TechSaaSBengaluru, IN

Aneesh Reddy(Founder)in

Co-investorsPeak XV PartnersQualcomm VenturesAvataar Venture PartnersNorwest Venture PartnersSequoia CapitalWarburg Pincus

Captain Freshcaptainfresh.inin

Captain Fresh is building a vertically integrated, multi-species global seafood platform that combines physical supply-chain infrastructure with consumer seafood brands.

B2B MarketplacesFoodTechLogistics & Supply Chain

Co-investorsAccelADB VenturesAnkur CapitalIncubate FundStride VenturesTrifecta Capital Advisors+5 more

Drmohansdrmohans.comin𝕏

Dr.

Digital HealthHealthtechMedical DevicesChennai, IN

Dr. V. Mohan(Chairman)

GenWorks Healthgenworkshealth.comin𝕏Aug 2024

GenWorks manufactures medical devices for patient monitoring and care support across ICU, critical care, operating theater, and maternal-newborn care settings.

BiotechFemTechHardwareHealthtechMedical Devices

S Ganesh Prasad(Founder)inGaneshPrasad sengamalam(Founder)in

Headoutheadout.comin𝕏

Headout operates a global marketplace that connects travelers with local experiences, activities, and attractions across multiple countries.

ConsumerMarketplacesTravel & HospitalityNew York, US

Varun Khona(CEO)inSuren Sultania(COO)inVikram Jit Singh(Executive Officer, Director)inRachit Watts(CTO)in

Co-investors500 GlobalArena VenturesFJ LabsFundersClubHemisphere Ventures LLCLudlow Ventures+6 more

HomeLanehomelane.comin𝕏Dec 2019 · $30M

HomeLane provides end-to-end home interior design and modular furniture services, offering personalised 3D designs, materials selection, factory production, and installation for residential customers.

ConsumerMarketplacesPropTech

Srikanth Iyer(Founder)in

Co-investorsAarin CapitalAccelBlackSoilFJ LabsNuVenturesPeak XV Partners+4 more

Infra Marketinfra.market

Souvik Sengupta(Founder)in

Co-investorsAccelAlteria CapitalFoundamentalMars Growth Capital

Mamaearthmamaearth.inin𝕏

Mamaearth sells personal care and beauty products including face washes, shampoos, serums, scrubs, and cosmetics, many formulated with natural ingredients.

ConsumerDirect to ConsumerE-commerce

Ghazal Alagh(Founder)inVarun Alagh(Founder)in

Co-investorsFireside Ventures Advisory LlpPeak XV PartnersSharrp VenturesStellaris Venture Advisors 2 LlpTitan CapitalSequoia Capital

Moneyviewmoneyview.inin𝕏

Moneyview is a personal finance and lending platform offering loans, savings, insurance, expense tracking, and payment services to consumers in India.

ConsumerFintechIndia, IN

Puneet Agarwal(Co-founder)inSanjay Aggarwal(Co-founder)in

Co-investorsAccelAlteria CapitalDMI AIF Sparkle FundLok CapitalSouth Park CommonsTranspose Platform Management

Parsons Nutritionalsparsonsnutritionals.inApr 2024

Parsons Nutritionals is an Indian contract manufacturer providing product development, manufacturing, and packing services to multinational FMCG, food, healthcare, and personal care companies.

Advanced ManufacturingConsumerFoodTech

SS Mann(Founder)

Co-investorsSharrp VenturesIFC

Rebel Foodsrebelfoods.co

Operates cloud kitchen brands and a food-tech platform for internet-first restaurants.

Kallol Banerjee(Founder)in

Co-investorsAlteria CapitalCoatue ManagementCool Climate CollectiveLightboxPeak XV PartnersRTP Global+4 more

Renee Cosmeticsreneecosmetics.inin𝕏

RENÉE Cosmetics is an Indian makeup brand offering high-quality, cruelty-free, and FDA-approved cosmetics for women.

ConsumerDirect to ConsumerE-commerceWellness & FitnessAhmedabad, IN

Aashka Goradia Goble(Founder)in

Co-investorsTitan Capital

Saarathi Financesaarathifinance.comin𝕏

Saarathi provides loans and financial guidance to MSMEs and small business entrepreneurs in India, combining lending with advisory support and financial literacy education.

Fintech

Vivek Bansal(Founder and CEO)in

Co-investorsLok CapitalParagon Partners

Sibros Technologiessibros.tech

Sibros provides a software-defined platform for connected vehicle management, offering tools for over-the-air updates, logging, monitoring, and remote command capabilities for automotive fleets.

Cloud ComputingEnterprise SoftwareIoTMobility & TransportationSan Jose, US

Hemant Sikaria(Founder)in

Co-investorsEnergy Impact PartnersFontinalis PartnersGlobal BrainIron PillarMoneta VenturesQualcomm Ventures+2 more

SK Finance LTDskfin.inin

SK Finance Limited (formerly Ess Kay Fincorp Ltd) is an Indian financier that provides lending and financial services, operating since 1994.

Fintech

Co-investorsNorwest Venture Partners

Testsigmatestsigma.comin𝕏Dec 2019

Testsigma is a quality intelligence platform that uses AI agents to detect testing gaps at each code commit and generate self-healing automated tests across web, mobile, API, and Salesforce.

AI & Machine LearningDeveloper ToolsSaaSSan Francisco, US

Pratheep Velicherla(Founder)inVikram Chaitanya P(Founder)inRukmangada Kandyala(Founder)inRajesh Reddy(Founder)in

BoardNikhil Kapur(Director)in

Co-investorsAccelBoldcapCrane Venture PartnersSTRIVETranspose Platform ManagementMassMutual Ventures

Ujala Cygnusujalacygnus.comin

Ujala Cygnus Healthcare Services operates a chain of 25 NABH-accredited multi-super-speciality hospitals serving tier 2 and tier 3 towns of Northern India, with a focus on affordable secondary and tertiary care.

Digital HealthHealthtechImpact & Social Good

BoardAlok Chandra Misra(Non-executive Director)in

Co-investorsGeneral AtlanticEight Roads Ventures

Unimech Aerospaceunimechaerospace.comin𝕏Jul 2024

Unimech Aerospace is a precision engineering and manufacturing company specializing in high-tolerance aerospace components, machining, fabrication, and assembly for the aerospace, defense, energy, and semiconductor industries.

Advanced ManufacturingHardwareBengaluru, IN

Co-investorsSteadview Capital

Veritas Finance Ltdveritasfin.inin

Veritas Finance is an Indian financial services company; this page lists its state-wise GST registration numbers across multiple Indian states.

FintechChennai, IN

Co-investorsLok CapitalNorwest Venture PartnersBritish International Investment

VideoVersevverse.aiin𝕏Acquired

VideoVerse is an AI-powered video technology platform that creates automated highlights and transforms live and archival sports video content.

AI & Machine LearningCreator EconomyEnterprise SoftwareMedia & EntertainmentSports Tech

Co-investors9Unicorns Accelerator FundAlpha Wave GlobalAudacity Venture CapitalCathexis VenturesHyderabad AngelsMoneta Ventures+4 more

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

DunzoHealthiansIndia'sIndia's Largest, Unlisted Used Vehicle FinancierIndian Multinational Real Estate CompanyIntegrated Manufacturer of Silk FabricsIntegrated Turn-Key Construction ServicesInternational Information Technology CompanyRenewBuyRenneSuryodaybank

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Evolvence India Fund made?
Evolvence India Fund has 34 tracked investments, 1 of which have exited.
What stage does Evolvence India Fund invest at?
Evolvence India Fund invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does Evolvence India Fund focus on?
Evolvence India Fund focuses on Consumer, Enterprise Software, Fintech, Healthtech, Sector Agnostic.
Where is Evolvence India Fund located?
Evolvence India Fund is headquartered in Mumbai, IN.
Who does Evolvence India Fund co-invest with?
Evolvence India Fund most often shares deals with Accel, Alteria Capital, Peak XV Partners, among 53 tracked co-investors.

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