Leo Capital
Leo Capital backs early-stage technology companies building for global markets.
Overview
Leo Capital is a cross-continental early-stage venture fund established in 2018 by entrepreneurs who had built and scaled technology businesses across multiple markets. The platform is headquartered in Singapore and Helsinki, with teams and networks across India, the United States, Europe and the Middle East. Its central idea is to help founders build companies that can compete internationally from an early stage.
Investment Focus and Stage
Leo Capital's sweet spot is the first institutional cheque, primarily at Pre-Seed and Seed, while continuing to support successful companies through Series A and later rounds. The firm leads or co-leads early rounds and combines its investment with support around international expansion.
Its current investment areas include Applied and Generative AI, Fintech and Insurtech, Vertical and Infrastructure SaaS, Healthtech and Life Sciences, Logistics and Supply Chain, Consumer and Commerce, and selected DeepTech and Web3.
The firm's distinctive Catalyst Engine operates through three areas: Global GTM, helping portfolio companies win international customers through enterprise introductions and operator playbooks; Global Fundraise, helping structure subsequent rounds and connect founders with global co-investors; and Talent, supporting senior hiring through its international network.
Fund Size and Portfolio
Leo Capital currently manages $200 million+ in assets across its funds and has backed 80+ companies across 14+ countries. Its portfolio spans four continents, with 54 investments initially made at Seed, eight at Pre-Seed and seven at Series A.
The firm's portfolio includes LambdaTest (now TestMu AI), FinanceOps, Shivalik Small Finance Bank, TravClan, EximPe, OneBanc, Bombay Play, HealthAssure, Reveal HealthTech, DarioHealth, Devtron, Apica, Zeplyn, NROC Security, QuantrolOx, Kayna and StrainX Bioworks.
The portfolio demonstrates Leo's global approach. Its companies operate across fintech, AI, SaaS, healthcare, cybersecurity, logistics, gaming, biotech and quantum technology. The firm also reports a growing list of exits, including Edureka, DarioHealth, HealthAssure, LoanSimple, Laminar and WayForward.
Leadership
Rajul Garg is Founder and Managing Partner of Leo Capital India. He previously founded Pine Labs and co-founded GlobalLogic and Sunstone. He was also an early angel investor in companies including Meesho and 1mg.
Shwetank Verma is Co-Founder and Managing Partner and leads Leo's investments outside India. He previously built businesses in health and education.
The wider partnership includes Ravi Srivastava, who previously founded Purvi Capital and co-founded Jump Trading's high-frequency trading group; Dinesh Singh, a serial entrepreneur and Sunstone co-founder; Madhusmita Das, formerly with Bessemer Venture Partners and Ola Electric; and Henry Goodwin, formerly a Venture Partner at Octopus Ventures.