Rainmatter Capital

Overview

Rainmatter Capital is an investment initiative established in 2016 by the founders of Zerodha, India's stockbroking and financial services company. It began by supporting startups building products for investors, traders, and financial advisers, with the aim of expanding participation in India's financial markets.

Over time, its mandate expanded into healthcare, climate action, agriculture, sustainability, and independent media. Rainmatter invests Zerodha's own capital rather than operating around a conventional fund cycle. Its approach prioritises long-term partnerships, with profits from investments intended to support further entrepreneurship and environmental initiatives.

Investment Focus and Stage

Rainmatter invests across Pre-Seed, Seed, Series A, and later stages, without restricting its decisions to a particular funding stage. Its reported investment range spans ₹50 lakh to ₹100 crore, depending on the business and opportunity.

Rainmatter's approach differs from conventional venture capital firms that operate within fixed fund lifecycles. It emphasises patient capital, founder independence, and long-term business development. The firm generally avoids taking board seats or participating directly in day-to-day operations, while offering funding, mentorship, industry connections, and access to Zerodha's financial technology expertise.

Fund Size and Portfolio

Rainmatter has deployed approximately ₹700 crore across more than 100 startups, according to its January 2025 update. It has also committed an additional ₹1,000 crore for future investments. Rather than operating through a conventional series of closed-end venture funds, Rainmatter uses capital generated by Zerodha to support businesses over extended periods.

Its fintech portfolio includes smallcase, which offers investment products and professionally managed portfolios; Digio, a digital documentation and electronic-signature platform; CRED, a membership-based financial services platform; AssetPlus, a technology platform for financial advisers and mutual fund distributors; Wint Wealth, which provides access to fixed-income investments; Sensibull, an options trading platform; Streak, a no-code algorithmic trading platform; GoldenPi, a bond investment marketplace; M2P Fintech, a banking and payments infrastructure provider; Jupiter, a digital banking platform; Ditto, an insurance advisory platform; Quicko, a tax planning and filing platform; Jodo, which offers education-fee financing; PensionBox, a digital pension platform; and Tijori, a financial research and market intelligence platform.

Its health and wellness investments include The Whole Truth, a clean-label food brand; Akshayakalpa Organic, an organic dairy and food company; Pee Safe, a personal hygiene brand; Ditch The Guilt, a healthier food company; and Devils Circuit, an obstacle-course racing platform.

In climate and sustainability, Rainmatter has backed SolarSquare, a residential solar energy company; Zerocircle, which develops seaweed-based alternatives to plastic; and Ossus, which works on sustainable materials and environmental solutions.

Rainmatter also supports independent financial and business journalism through investments in Finshots, The Ken, The Arc, Teepoi, Plate, and Sochcast. Its portfolio reflects a broader strategy of supporting businesses that improve financial access, public health, environmental outcomes, and access to useful information.

Leadership

Nithin Kamath is the Founder and Chief Executive Officer of Zerodha and a key figure behind Rainmatter. He established the initiative to support startups that could expand access to financial markets and later broadened its scope to health, climate, and other areas. His experience building a bootstrapped brokerage business shapes Rainmatter's emphasis on sustainable growth and founder independence.

Kailash Nadh is Chief Technology Officer at Zerodha and has played an important role in the company's technology-led approach. His work and interest in environmental sustainability also helped shape the broader Rainmatter initiative and its support for climate-focused organisations.

Venu Madhav has held senior operational responsibilities at Zerodha, contributing to the operating experience behind the broader group. .