Nisarg Shah led solo GP VC fund, Kettleborough VC, launches Fund II
venture capital
firm,
Kettleborough VC
, founded and led by seasoned investor
Nisarg Shah
, has launched Fund II with a target corpus of Rs 80 crore. The fund has already marked its first close at Rs 35 crore with commitments from family offices and successful entrepreneurs from India and US. It is in the process of closing the first few investments in the coming weeks.
The new vehicle will carry forward Kettleborough's focused investment philosophy of partnering with deeply experienced founders at the point of venture inception—those who bring over a decade of domain expertise, strategic relationships, and execution readiness to build high-leverage businesses.
Since its inception in 2021, Kettleborough VC has carved a distinctive identity in India's venture landscape. Its inaugural fund backed 12 startups including Zippmat, InPrime, Finhaat, Elivaas, Sumosave, Gravity, etc. and was the first institutional fund to commit to 9 of them. These companies reflect Kettleborough's core thesis of investing in founder-led businesses that are execution-first and born from years of category expertise.
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Speaking on the launch of Fund II, Nisarg Shah, Founder & GP, Kettleborough VC, said, in a statement:'We are extremely disciplined about backing execution journeys only, wherein we invest only in founders for whom the venture is the natural culmination of a decade or more of expertise in a specific domain. That's the last straw moment for us—the final convergence of market familiarity, lived experience, and deep networks. Fund I has shown a clear PMF for this thesis—tracking nearly 2x in just about 3 years from the final close—and we are now doubling down with Fund II to back about 10 more such companies.'
With Fund II, Kettleborough VC plans to write initial seed cheques of $300,000–$500,000 and further back them up with meaningful follow-on capital. The fund's strategy is sector-agnostic but has a strong inclination towards 'Dhandha-first' businesses—including financial services (NBFCs, insurance, fintech infrastructure), full stack commerce solutions (B2B commerce, B2C consumer brands), and software platforms (vertical SaaS, agentic AI led platforms)—where strong founder-market fit can translate to sustainable execution and capital efficiency.
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