Marwari Catalysts (MCats), a Jodhpur-based startup accelerator, has announced an ambitious plan to build a ₹4,000 crore ($500 million) impact-focused portfolio by 2027. This initiative comes alongside MCats’ expansion into Dubai and Singapore, supported by more than 150 co-investors, family offices, and over 200 global mentors. Founder Sushil Sharma described the vision clearly: “Valuations shouldn’t eclipse values. Success isn’t just about unicorns; it’s about building companies that improve lives and create lasting social change.”
Track Record and Advocacy for Inclusivity
Since its launch, Marwari Catalysts has invested in more than 100 early-stage ventures across India, generating over 5,000 jobs. The accelerator has also been a strong advocate for inclusivity, with around 35% of its portfolio companies led by women co-founders and several women holding key leadership roles. This commitment highlights MCats’ focus on diversity and equal opportunity in India’s startup ecosystem.
Aligning With UN SDGs and India’s Commitment
The new impact-driven portfolio aligns closely with the United Nations Sustainable Development Goals (SDGs). Marwari Catalysts aims to support startups contributing to quality education, gender equality, decent work and economic growth, sustainable cities, and climate action. India has also been stepping up its SDG commitments, recently collaborating with the UN on South–South Cooperation initiatives and a new SDG Country Fund to accelerate progress.
Market Timing and Growing Investor Support
The timing of this move is significant. According to Bain & Company’s India Venture Capital Report 2025, VC funding in India rebounded to $13.7 billion in 2024, a 1.4× increase from 2023. With public markets showing resilience and global investors re-engaging, the environment is becoming favorable for impact-driven startups to secure long-term capital.
Climate and Thematic Funds Gain Momentum
Impact and climate-focused funds are also gaining momentum in India. Avaana Capital recently closed its Climate and Sustainability Fund at $135 million and received support from the UN’s Green Climate Fund—their first VC investment in India. Meanwhile, HCL Group launched the ₹25 crore “ClimaForce Fund” to back deploy-ready climate solutions in areas like green buildings and mobility. Such initiatives show that impact funding is no longer niche; it is becoming mainstream.
Expanding Depth With Thematic Funds
Beyond climate-focused pools, thematic funds are also entering the market. Artha India Ventures closed its Artha Select Fund at ₹432 crore to reinvest in its winners, while HealthKois launched a $400 million fund for healthcare and medtech startups. These moves underline the growing depth of India’s venture ecosystem, offering strong support for early and growth-stage companies.
International Expansion for Wider Reach
Marwari Catalysts’ expansion into Dubai and Singapore is another strategic advantage. Dubai is rapidly emerging as a preferred base for Indian founders due to investor-friendly policies, while Singapore remains a leading gateway to Southeast Asian markets. For MCats-backed startups, this expansion means wider access to international investors, mentors, and customers.
Domestic Ecosystem and Government Support
On the domestic front, India’s startup landscape is also maturing. As per DPIIT data, India now has over 1.25 lakh government-recognized startups across 60+ sectors. Government schemes like the Startup India Seed Fund Scheme and Fund of Funds for Startups are providing early-stage capital support. MCats’ ₹4,000 crore portfolio will complement these efforts by bringing global co-investors into the Indian ecosystem.
Benchmarking for Diversity and Inclusion
A particularly strong element of Marwari Catalysts’ vision is its commitment to women founders. Globally, women-led startups secure less than 2% of VC funding, but MCats has already crossed 35% in its portfolio. With the new impact portfolio, MCats has the opportunity to set new benchmarks for diversity and inclusion in venture capital.
Forward Outlook: Profitable and Purposeful Growth
Looking ahead, MCats’ impact-driven approach could play a key role in shaping India’s future entrepreneurial landscape. Climate tech, affordable healthcare, rural-focused startups, and education for underserved regions are all gaining traction with both investors and policymakers. The Union Budget 2025 has also emphasized green growth, MSME support, and skill development—all areas where MCats is planning to invest.
For funding for your startups, do check out these recently launched funds:
- Boundless Ventures Led By Natasha Malpani Launches Rs 200 Cr Fund for Early-Stage Startups
- Speciale Invest Announces Rs 600 Cr Third Fund For Early-Stage Deeptech Startups
- Inflection Point Ventures Launches ₹960 Cr Angel Fund to Back Early-Stage Startups
- Infosys, Qualcomm, and DPIIT Back Yali Capital’s Rs 893 Crore Fund to Invest in Early-Stage Deeptech Startups
