Nisarg Shah’s early-stage venture capital firm Kettleborough VC has closed its second fund. The new fund will raise a total of ₹80 crore. They have already made the first close at ₹35 crore, which means this much has already been received from investors.
The funding comes from family offices and entrepreneurs in India and the US who trust Kettleborough’s approach.
Concentration on Seasoned Founders
Kettleborough VC is interested in investing only in founders with 10 years or more of experience in their space. Nisarg Shah states that they favor individuals who see starting a company as a logical next step after a decade of work experience.
They will write first checks of $300,000 to $500,000 per startup from this fund. They plan to invest in approximately 10 startups and have some more money in reserve to provide additional funding to the top performers down the line.
Success of First Fund
Their initial fund had already invested in 12 startups, including ZippMat, InPrime Finserv, Finhaat, and ELIVAAS. Several of these startups subsequently received additional funding from large VCs such as Omnivore, Lightspeed, and Bessemer.
Industries They Like
KKettleborough wishes to continue focusing on “Dhandha-first” businesses—i.e., viable, profit-oriented concepts. They are interested in financial services, commerce software, vertical SaaS, and artificial intelligence (AI).
Shah has personally invested in over 30 startups in the past and has successfully witnessed 10 exits, meaning the companies either sold or went public. H He has made notable investments in companies such as Foxtale, Onebanc, and Homeville.
More Than Just Money
Kettleborough not only invests capital but also provides founders with advice, robust networks, and practical business guidance. They assist seasoned founders in transforming their hard work into successful businesses.
Why This Matters
This new fund indicates that an increasing number of senior individuals in India are willing to start new businesses instead of simply holding jobs.
With the increased second fund, they want to leave an even larger imprint on India’s startup narrative.
