Windrose Capital
Windrose Capital invests in Indian technology startups across fintech, enterprise SaaS, deep tech, and digital businesses.
Overview
Windrose Capital is a Pune-based venture capital firm founded in 2013. It invests in Indian startups building technology-led products and services, with particular interest in financial inclusion and B2B technology. The firm focuses on digital-first businesses serving emerging Indian consumers and entrepreneurs.
Investment Focus and Stage
Windrose Capital invests primarily at the seed stage and also participates in early and mid-stage rounds. Its key areas of interest include fintech, enterprise SaaS, deep tech, and other technology-enabled businesses.
The firm looks for technical founding teams building differentiated products with the potential for substantial growth. It is particularly interested in businesses that can improve efficiency through technology while avoiding heavily asset-dependent models. Its investment approach also considers unit economics, focused market opportunities, product differentiation, and the founders' ability to build and scale the business.
Fund Size and Portfolio
Windrose Capital manages The Next Billion Fund, a $30 million early-stage venture capital fund that closed in 2019. The firm has made 30 investments across 26 portfolio organizations, according to current investment records.
Its portfolio includes ideaForge, Trezi, Rubick.ai, LegalPay, Nivesh, Skye Air Mobility, Biddano, Datachamps, NimbleS2P, BusinessOnBot, Atmax, DigiSparsh, Invento Makerspaces, Instoried, AutoDukan, DataNeuron, TwarIT Mobility, and Paper.VC. ideaForge became a notable public-market outcome after its IPO and listing in 2023.
Leadership
Rohit Goyal is Managing Partner and brings entrepreneurial experience across manufacturing and technology. He has worked with companies in India and international markets and holds an engineering degree and a master's in management focused on finance and entrepreneurship.
Brajkishor Baheti is Partner and brings a technology background alongside experience in consulting and risk advisory. He has worked on technology ventures and previously served as a consultant with EY.