Late-stage capital for high-growth businesses.
24 Ventures is a growing investment firm. We provide capital, business and governance support to established companies ready for institutional-scale growth.
Three commitments that shape every investment.
Capital
We deploy up to ₹100 crore per investment into established companies — each position sized to carry real weight, for the company and for our fund.
Governance
We prefer companies where governance is already valued — and work alongside management to strengthen the structure, strategy, and institutional rigour that scale requires.
Patience
We hold positions with patience and discipline — staying invested until the business unlocks its true value, not exiting at the first opportunity offered.
India has crossed the threshold from emerging to established. A distinct cohort of well-run, regionally dominant businesses has emerged — not yet large enough to access public markets on their own terms.
These organizations need capital that understands what they have already built — not capital that asks them to become something else. We partner at the point where a business is ready to compound — bringing the capital to accelerate it, the governance to strengthen it, and the patience to let it unlock its true value.
Read our full approach →Capital and partnership for investors and founders alike.
HNIs, family offices, and qualified investors.
We welcome a conversation for exploring institutional private-market opportunities. PPM available on request.
Get in touch →Businesses ready for their next level of growth.
If you lead a business ready for its next chapter, we'd be glad to hear from you. We partner with organisations that need capital, business advisory, stronger governance, and a patient partner for growth.
Write to us →Built for businesses that value discipline as much as growth.
24 Ventures is a Bengaluru-based investment firm partnering with established businesses through long-term capital, governance support, and institutional discipline.
The firm we wanted to find.
Growing businesses today increasingly include a class of profitable mid-market companies that have matured beyond venture capital, yet remain underserved by traditional institutional capital. The capital available to these businesses is often too short-term, too financially engineered, or too detached from the realities of building and operating companies in India.
At 24 Ventures, we believe in building long-term capital partnerships anchored in the patience to think in years rather than quarters, the discipline to walk away from mispriced risk, and the institutional discipline required to be a trusted partner to founders and management teams.
Three principles behind how we invest.
We believe enduring businesses are built through disciplined execution, strong governance, and long-term objective. Our role is to be a patient and aligned capital partner that supports growth while respecting entrepreneurial independence.
We believe capital should be deployed with discipline, transparency, and accountability. Protecting downside risk and compounding capital responsibly over the long term remain central to our investment approach.
We believe India's profitable mid-market remains one of the most compelling yet under-served segments for institutional capital. Responsible investing and long-duration partnerships contribute to stronger businesses and a healthier investment ecosystem.
Leadership & Investment Team
24 Ventures comprises a nucleus investment team with backgrounds across capital allocation, corporate finance, business strategy, and investment evaluation. We have intentionally kept the firm selective and partner-led: every investment is evaluated with direct involvement from the principals responsible for long-term oversight and portfolio stewardship.
Niranjan Goyal
A finance and investment professional with over 2.5 decades of experience across investment advisory, portfolio strategy, corporate finance, business transformation, investment evaluation, asset allocation, M&A transactions, financial restructuring, and capital allocation across growth-stage enterprises. Qualifications include Chartered Accountant (CA), Company Secretary (CS), PGDBM (International Business), and Commerce Graduation from St. Xavier's College, with certifications in investment advisory, portfolio management, AIFs, research analyst, and derivatives.
Tarnpreet Kaur
Chartered Accountant (CA) with experience in fund administration, regulatory compliance, and investor relations across GP-LP structured funds in Singapore and Portugal. Contributed to the structuring and launch of a EUR 50 million government-anchored fund, with responsibilities spanning multi-jurisdictional compliance, financial reporting, drawdown management, and anchor investor communications.
Nishanth S
Investment professional with experience across venture capital, government-backed portfolio management, and institutional advisory. Has managed a €10M+ deal mandate across European and Indian ecosystems, evaluating 100+ startups and supporting €8M+ in deployed capital. Previously oversaw a portfolio of 24 government-funded startups, managing milestone compliance, fund deployment, and investor connect programmes.
24 Ventures Capital Trust Fund is the proposed maiden scheme of the firm. Portfolio investments and related disclosures to be communicated progressively as capital is deployed and investments mature.
Want to understand our investment approach?
Our approach →We believe India's mid-market is structurally under-served by long-term institutional capital.
Our strategy is designed to identify businesses with durable operating foundations and partner with them through the transition from founder-led growth to institutional scale.
India's growth is no longer the thesis. Selectivity is.
By 2030, India is on a clear trajectory to become the world's third-largest economy, with projected GDP of approximately $7.3 trillion and real GDP growth of roughly 6.5 to 7 percent annually. Private consumption — already close to 60 percent of GDP — has roughly tripled over the past decade, as nearly 300 million households crossed into rising-income brackets. The median age remains under 30.
These are not predictions. They are the operating conditions inside which Indian businesses already exist. Our investment approach takes this macro foundation as given and focuses instead on the companies that have already proven they can earn within it.
India is no longer merely a consumption market for others to serve. The country is rapidly emerging as a significant producer of quality goods and services — from precision manufacturing and speciality chemicals to technology services and branded consumer products. This dual position, as both a large and growing consumption base and an increasingly capable production economy, creates a rare set of opportunities for businesses that are well-positioned on either side of that equation, and especially for those positioned on both.
The profitable Indian mid-market.
The Indian capital landscape has historically split into two halves. On one side: venture and growth capital, focused on early-stage and rapidly scaling businesses, often unprofitable, often consumer-facing, often valued on potential. On the other side: large-cap private equity and the public markets, focused on businesses already at significant scale.
Between these two halves sits a third category — the most under-served and, in our view, the most attractive. These are Indian businesses that:
- Already demonstrating a growth trajectory and reporting meaningful topline revenue and surplus.
- Have proven, repeatable business models — not just product–market fit.
- Operate at a scale that institutional capital can take seriously, but not yet at a scale that public markets find easy to underwrite.
- Are typically founder-led or family-owned, with the strategic readiness for institutional partnership.
This is the pool we invest in. It is large, lightly competed for at our position size, and structurally well-suited to the discipline our fund is built around.
Capital discipline has returned. So have realisations.
The Indian private-market environment has matured. The funding peak of 2021 has rationalised; entry valuations have come back to earth; founders and management teams are more focused on profitability, capital efficiency, and durable economics than at any point in the past decade.
At the same time, the exit environment has deepened materially. India led the world in IPO activity in 2024 with over 300 listings, and private-equity-backed exit realisations crossed record levels in 2025. Strategic acquirer demand in selected sectors is the strongest it has been in years. For a disciplined late-stage investor, the combination — rational entry, fruitful exit — is rare and consequential.
Investment criteria.
Stage
Late-stage. The companies we invest in are not starting up; they are scaling up. They have proven their core business, accumulated meaningful operating history, and built a foundation that institutional capital can underwrite.
Profitability threshold
The businesses we partner with are generating a meaningful surplus — yet find themselves constrained in their ability to reinvest at the pace and scale required to fund the next stage of growth. This is the inflection point we are designed to address.
Ticket size
Up to ₹100 crore per investment. Sized to take meaningful positions — large enough to carry real weight for the company and for our fund.
Geography
Primarily India-focused. Our mandate is to back businesses operating predominantly within India, led by promoters with the tenacity and conviction to build for the long term.
Sector
Sector-agnostic. We start with business quality, not sector quotas. The right answer at any moment is whichever investment best fits the criteria above.
What we look for, in order of importance.
1. Quality of earnings
Reported profit is necessary but not sufficient. We look closely at the source of earnings — recurring versus episodic, organic versus inorganic, customer-concentrated versus diversified.
2. Quality of management
We invest into people who have built something already, not into people who say they will. We look for operating depth, capital discipline, and honest engagement with the business.
3. Durability of position
Defensibility comes from many sources — brand, distribution, regulation, network effect, cost leadership, technical depth. We do not have a preferred source; we have a preferred outcome.
4. Path to a realised return
Every investment is underwritten with an exit hypothesis from day one. We do not invest into a story that has no plausible path to realisation within our fund's horizon.
Have a question or want to explore a conversation?
Contact us →Notes on Indian private markets, from inside the firm.
This section will grow as we publish. We publish rarely and deliberately.
The case for the profitable Indian mid-market.
I.
There is a peculiar shape to Indian private capital. Walk down the funnel and you will find venture funds at one end, focused on early-stage businesses that are growing fast and burning faster. Walk to the other end and you will find large-cap private equity and the public markets, focused on businesses that have already crossed the thresholds of scale that make them legible to either.
Between these two ends sits a population of companies that the Indian capital market has trouble talking about. They are too profitable to be venture, too small to be large-cap PE, and not yet ready for the public markets. They are run by people who built them and still own them. They have audited financials, real customers, and real earnings. And they are, by some distance, the most numerous category of business in the Indian economy.
This is where 24 Ventures invests.
II.
The thesis is not novel. Late-stage growth equity into profitable mid-market businesses is, in mature markets, a well-established and well-rewarded discipline. What is novel — and what we believe makes the moment unusual — is the depth of this category in India today.
Three structural forces have combined to make it so. First, the duration of the current Indian growth cycle. India has been compounding at six to seven percent in real terms for long enough that businesses founded in the 2000s and 2010s have had time to reach genuine scale. Second, the formalisation of the Indian economy. Goods and Services Tax, demonetisation, the digital public infrastructure stack — these have, over a decade, dragged a vast cohort of mid-market businesses from the unstructured economy into the structured one. They now have data trails, audited statements, and the institutional readiness that any disciplined investor requires. Third, the capital cycle. The funding peak of 2021 forced a generation of founders to learn capital discipline the hard way. The businesses that emerged from that period with intact economics did so because they had to.
III.
There is a temptation — particularly common among investors who have spent time in the venture ecosystem — to read profitability as a constraint. The profitable business is, in this reading, a less ambitious business. We disagree.
In our experience, the most disciplined companies are not the ones that learned discipline late, but the ones that never had the option of learning it differently. The Indian mid-market is full of these companies — second-generation businesses, regional category leaders, services and industrial firms that have spent twenty years figuring out how to earn a rupee for every rupee deployed. The reason they have not raised more capital is rarely because the capital wasn't available; it's because they didn't need it.
They need it now — but for a specific reason. The next phase of scale, the move from regional dominance to national presence, the leap from family-managed to institutionally-governed — these are inflection points that capital alone doesn't address, but that capital combined with the right kind of governance and discipline can accelerate meaningfully.
IV.
The exit environment matters here as much as the entry environment, and Indian exits have changed.
In 2024, India led the world in IPO activity, with more than 300 listings. Private-equity-backed exit realisations crossed record levels in 2025. Strategic acquirer demand in selected sectors — particularly enterprise software, industrials, and consumer brands at the right scale — is the strongest it has been in a decade. For a fund investing in a profitable, established Indian business today, the question of how the exit will happen is genuinely answerable in ways it has not been for most of the last twenty years.
This is what makes the moment unusual: rational entry valuations, a deep and growing pool of investible companies, and an exit market that has finally caught up.
V.
None of this is enough on its own. A category being attractive is a different statement from a fund being good at investing into it. The work — the actual work of evaluating, structuring, and holding a position in a profitable Indian mid-market business — is hard, slow, and requires a kind of discipline that does not photograph well.
We will write more, over time, about how we do that work.
Three ways to reach us.
We respond to every enquiry, and we do so directly.
Investor enquiries
HNIs, family offices, institutional allocators, and qualified investors. The Private Placement Memorandum is available on request, subject to investor eligibility and a confidentiality acknowledgement.
hello@24ventures.inFounder enquiries
Founders and management teams of established businesses considering an institutional capital partner.
hello@24ventures.inAll other enquiries
Advisors, intermediaries, journalists, and prospective service providers.
hello@24ventures.inWhere to find us
24 Venturz Private Limited
4B, The Marquis, Vittal Mallya Road
CMM Court Complex
Bengaluru – 560001, Karnataka, India
Regulatory and legal disclosures.
Written for prospective investors, regulators, advisors, and any reader who requires the complete factual position of the firm.
Registration with SEBI.
24 Ventures Trust Funds is registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund under the SEBI (Alternative Investment Funds) Regulations, 2012. The SEBI Registration Number will be reflected on this page upon confirmation.
This website is informational only.
Nothing on this website constitutes an offer, solicitation, recommendation, or invitation to invest in any scheme of 24 Ventures Trust Funds or in any other security or product. Any offer or sale of Units will be made solely through the Private Placement Memorandum and the related Scheme Documents.
Investments are subject to market risk.
Investments in the Scheme involve significant risks, including the risk of loss of capital. Past performance is not indicative of future results. No returns are assured or guaranteed. Prospective investors are urged to consult their own advisors before considering any investment.
Entities.
Investor Charter.
Upon receipt of SEBI registration, 24 Ventures Trust Funds will publish the SEBI-prescribed Investor Charter and complaints data on this page.
Grievance redressal.
Any investor wishing to raise a grievance may write to hello@24ventures.in. Investors may also escalate unresolved grievances through the SEBI Complaints Redress System (SCORES) at scores.sebi.gov.in.
How we handle your information.
This policy explains what we collect, how we use it, who has access, and your rights.
What we collect.
When you contact us, we collect the information you provide — typically name, email, organisation, and message. If you request the PPM, we may collect information to verify Qualified Investor status and comply with KYC requirements. We collect basic, aggregated, non-identifying website usage data. We do not use third-party advertising trackers.
How we use it.
Solely to respond to your enquiry, evaluate fit, and comply with regulatory obligations. We do not use your information for marketing. We do not sell, rent, or commercialise your information.
Who has access.
Authorised personnel of 24 Venturz Private Limited and its professional advisors only. We require all such persons to maintain confidentiality.
Your rights.
You may request access to, correction of, or deletion of your information by writing to hello@24ventures.in.
Terms governing the use of this website.
By accessing or using this website, you agree to be bound by the terms below.
Information only.
This website provides general information about 24 Ventures. Nothing here constitutes investment, legal, tax, or accounting advice.
No offer or solicitation.
Nothing on this website constitutes an offer to sell or a solicitation to buy any security. Any such offer will be made exclusively through the PPM and Scheme Documents.
Intellectual property.
All content is the property of 24 Venturz Private Limited or its licensors, protected under applicable Indian law.
Governing law.
These Terms are governed by the laws of India. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts at Bengaluru, Karnataka, India.