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The Venture Codex

Overview

Pioneering mid-market private equity investments in India.

Founded

2007

Deals · 12mo

4

Stage focus

—

Geographic focus

India

Sector focus

—

Investment portfolio

21rounds
NAMEDATESIZE
Neo Group
Jul 2026Participated
$36 MOther Equity
Neo Group
Mar 2026Led
$54 MOther Equity
Neysa
Feb 2026Participated
$1.2 BOther Equity
Finnable
Nov 2025Led
$56 MOther Equity
SarvaGram
Nov 2024Participated
$67 MSeries D
PhonePe
Feb 2023Participated
$100 MOther Equity
InsuranceDekho
Feb 2023Led
$150 MSeries A
SarvaGram
Jan 2023Participated
$35 MSeries C
VuNet Systems
Nov 2022Participated
$5 MSeries A
Finhay
Jun 2022Participated
$25 MSeries B
Vivriti Capital
May 2022Led
$30 MSeries C
Increff
Feb 2022Participated
$12 MSeries B
Neo Group
Jul 2026Participated
$36 MOther Equity
Neo Group
Mar 2026Led
$54 MOther Equity
Neysa
Feb 2026Participated
$1.2 BOther Equity
Finnable
Nov 2025Led
$56 MOther Equity
SarvaGram
Nov 2024Participated
$67 MSeries D
PhonePe
Feb 2023Participated
$100 MOther Equity
InsuranceDekho
Feb 2023Led
$150 MSeries A
SarvaGram
Jan 2023Participated
$35 MSeries C
VuNet Systems
Nov 2022Participated
$5 MSeries A
Finhay
Jun 2022Participated
$25 MSeries B
Vivriti Capital
May 2022Led
$30 MSeries C
Increff
Feb 2022Participated
$12 MSeries B
21
Items
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Insights

Time horizon

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Deal Distribution

TVS Capital: 21 funding rounds are recorded in the selected participation categories.All available history.
TVS Capital: 21 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A21
Series B02
Series C+12
Other Equity67

Monthly Deal Activity

TVS Capital: 21 deals are recorded across 191 months.All available history.
TVS Capital: 21 deals are recorded across 191 months. All available history
MonthDeals
Dec '101
Jan '110
Feb '110
Mar '110
Apr '110
May '110
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '121
Apr '120
May '121
Jun '120
Jul '120
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '130
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '130
Nov '130
Dec '130
Jan '140
Feb '140
Mar '140
Apr '140
May '140
Jun '140
Jul '140
Aug '140
Sep '140
Oct '140
Nov '140
Dec '140
Jan '150
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '150
Sep '150
Oct '151
Nov '150
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '191
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '201
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '211
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '211
Oct '210
Nov '210
Dec '210
Jan '220
Feb '221
Mar '220
Apr '220
May '221
Jun '221
Jul '220
Aug '220
Sep '220
Oct '220
Nov '221
Dec '220
Jan '231
Feb '232
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '260
Feb '261
Mar '261
Apr '260
May '260
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

TVS Capital: Fintech is the largest displayed sector by deal count (12 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

TVS Capital: Fintech is the largest displayed sector by deal count (12 deals). All available history
SectorDeals
Fintech12
E-Commerce & Retail3
Data, Analytics & IT3
AI & Machine Learning3
Government & Defense2
Enterprise Software2
Consumer & Lifestyle2
Food & Agriculture2
Social & Community Platforms2
Cybersecurity & Privacy1
Clean Energy & Sustainability1
Transportation & Logistics1
Networks, Cloud & Communication1
Hardware & Robotics1
Health & Life Sciences1

Deal Size Distribution

TVS Capital: 21 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

TVS Capital: 21 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M3
$10M-$25M4
$25M-$50M6
$50M-$100M5
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+1

Deals By Geography

TVS Capital: India has the largest recorded deal count among the displayed regions (20 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

TVS Capital: India has the largest recorded deal count among the displayed regions (20 deals). All available history
RegionDeals
India20
Vietnam1
TVS Capital: 20 co-investors are shown, with IFC sharing 3 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

TVS Capital: Led accounts for 43% and participating for 57% of round participation.All available history.
TVS Capital: Led accounts for 43% and participating for 57% of round participation. All available history
CategoryDeals (count)Share (%)
Led943%
Participating1257%
TVS Capital: Single-lead accounts for 44% and co-led for 56% of lead dynamics.All available history.
TVS Capital: Single-lead accounts for 44% and co-led for 56% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead444%
Co-led556%

Team

Anuradha Ramachandran

Managing Partner

D. Sundaram

Vice Chairman and Managing Director

Gopal Srinivasan

Founder, Chairman & Managing Director

Krishna Ramachandran

Managing Partner and Chief Operating Officer