Chiratae Ventures: A Bangalore Firm Built by Sudhir Sethi and TCM Sundaram
Chiratae Ventures is a Bangalore-based technology venture capital firm founded by Sudhir Sethi and TC Meenakshisundaram in 2006, formerly known as IDG Ventures India. The firm manages roughly $1.3 billion across seven funds, backing early-stage startups in AI, deep tech, healthtech, and fintech from seed through series B. It has made more than 130 investments, including eight unicorns, with confirmed portfolio companies such as LensKart, FirstCry, Myntra, and Flipkart.
Overview
Chiratae Ventures is a technology venture capital firm based in Bangalore. Sudhir Sethi and TC Meenakshisundaram founded the firm in 2006. They first set it up as IDG Ventures India, backed by an anchor investment from IDG USA. Ranjith Menon joined the team in 2007 and later became a managing director. The firm has since grown into one of India's most established technology investors.
Investment Focus and Stage
Chiratae Ventures backs early-stage startups across seed, series A, and series B rounds. Its current focus spans AI, deep tech, healthtech, consumer tech, and fintech. The firm has also expanded into climate tech, spacetech, defence tech, and quantum computing. It enters early, brings sector expertise, and stays committed through each company's journey. Managing directors Venkatesh Peddi and Ranjith Menon now lead its newest fund.
Fund Size and Portfolio
Chiratae Ventures manages roughly $1.3 billion in assets across seven funds. Its fourth fund closed oversubscribed at $337 million in 2021. A fifth fund reached a $150 million second close in September 2025. The firm has made more than 130 investments, with eight unicorns and five IPOs among them. LensKart, FirstCry, Myntra, Flipkart, Curefoods, and Cult.fit all count among its confirmed investments.
Leadership
Sudhir Sethi founded Chiratae Ventures and serves as founder and chairman. He previously led Walden International's India business before starting this firm. TC Meenakshisundaram co-founded the firm and serves as founder and vice chairman. Ranjith Menon joined in 2007 and now serves as managing director. He leads the firm's newest fund alongside fellow managing director Venkatesh Peddi.