Grayscale Ventures

Overview

Grayscale Ventures is a venture capital firm founded in 2023 by Nikhil Kapur and Siddharth Verma. The firm is headquartered in Singapore and focuses on Indian founders building global technology companies. Its investment approach centers on developer infrastructure, SaaS and technology products built around the changing software stack.

Investment Focus and Stage

Grayscale is a day-zero investor focused on Pre-Seed and Seed companies. Its initial investments generally range from $125,000 to $1 million, with the firm backing companies when products are still being developed or are at the beginning of commercialisation.

Its thesis covers DevInfra, DevTools, SaaS and AI infrastructure, with increasing interest in AI-native applications and infrastructure for AI agents. The firm looks for technically ambitious products that can become important parts of how software is developed, deployed and used by businesses.

Grayscale can remain invested as companies mature rather than limiting its involvement to the first round. This is reflected in portfolio companies that have progressed from Pre-Seed into later institutional rounds.

Fund Size and Portfolio

Grayscale's first fund had a target corpus of $20 million and was designed to invest in approximately 15–20 early-stage companies. The firm's portfolio includes PromptQL, S2, Testsigma, Pipeshub, SafeDep and Failproof.

PromptQL entered Grayscale's portfolio at the Pre-Seed stage and has since reached Series C, building reasoning AI specialized for individual businesses. S2 entered at Pre-Seed and is now at Seed, developing durable streams for the agentic web. Testsigma entered at Pre-Seed and has progressed to Series B with its AI-powered test automation platform.

Pipeshub and SafeDep remain at the Pre-Seed stage. Pipeshub is building an open-source enterprise AI platform that connects business data and applications for AI agents, while SafeDep focuses on software supply-chain security. Failproof is developing runtime infrastructure designed to improve the reliability of AI agents.

Leadership

Nikhil Kapur and Siddharth Verma are Co-Founders and General Partners of Grayscale Ventures. Before establishing Grayscale, the two worked together at STRIVE, investing in early-stage B2B technology businesses across India and Southeast Asia.

Kapur has a background spanning engineering, product and venture investing, while Verma has experience across venture capital and B2B technology. Their experience has shaped Grayscale's focus on technical founders and products that can become core infrastructure for the next generation of software.