Neev Fund
A Wing, 12th Floor, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai, Maharashtra, 400013, India
Overview
Neev Fund is the outcome of a partnership between State Bank of India and UK’s Department for International Development (DFID). Neev fund is an Infrastructure private equity fund focused on creating sustainable development. Neev Fund has been established as a contributory trust in 2014, by its settlor (i.e. SBICAP Ventures Limited) and its trustee (i.e. SBICAP Trustee Company Limited) (“Trustee”). The Fund is registered with the Securities and Exchange Board of India (“SEBI”) as a Category I Alternative Investment Fund – Infrastructure Fund (“Category I Infra AIF”) under the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012 (“AIF Regulations”) The sponsor and investment manager of the Fund is SBICAP Ventures Limited (“Client” or “Investment Manager”).
- Total investments
- 2
- Lead investments
- 2
- Investments · 12mo
- 1
- Active investors
- 2
Sector focus
- Financial Services
Investment portfolio
- NeoGeo
Led · Series A · Aug 2026
NeoGeo builds digital twins of cities for urban governance, including master plans and real-time monitoring of pollution, flooding and property-tax leakages, and maps and manages assets such as highways, pipelines and power transmission lines by integrating IT with operational technology. The company generates the majority of its revenue from cross-country infrastructure and urban government projects and has largely operated as a systems integrator earning project-by-project revenue. NeoGeo plans to platformize its services because around 60–70% of customer requirements are similar across projects, enabling ready-to-deploy offerings with regional customizations. It has an existing presence in West Asia and is prioritizing international expansion with planned offices in Europe and the U.S. within the near term. The recently raised Series A funding will be allocated equally to consolidating its domestic position, opening international offices, and building software products to scale the business.
- GPS Renewables
Led · Series B · Mar 2022
Founded in 2012 by Mainak Chakraborty and Sreekrishna Sankar, GPS Renewables develops, produces, and distributes biofuels and bioenergy infrastructure. The company says it has delivered over 30 projects that are operational or nearing completion and has visibility into more than 200 compressed biogas (CBG) projects being developed with oil marketing companies. GPS Renewables recently secured an EPC contract from NTPC to build India’s first ethanol-to-jet sustainable aviation fuel plant, indicating expansion into higher-value biofuel projects. It has an asset-holding platform called GPSR Arya that has attracted equity investments from a major South Korean conglomerate and prior funding from Sojitz Corporation. The company employs over 800 people and reports annual revenue of around Rs 1,000 crore. Current and recent financings include a $20 million Series B in 2022, $50 million of debt in 2024, and the Rs 635 crore Series C in 2025.