About Piramal Fund Management
Piramal Fund Management is a venture capital firm founded in 2005. It is primarily based out of Mumbai, India. As of Apr 2021, Piramal Fund Management has invested in 8 companies. It primarily invests in Seed round in India based startups. Its investments are spread across a wide range of sectors from Consumer to Enterprise Applications and Gig Economy. Most recently it participated in the $***** Seed round of goSTOPS Overall, Piramal Fund Management portfolio has seen 1 IPO and 1 acquisition, namely LEAP and Proeves. A lot of funds co-invest with Piramal Fund Management, with names like Alok Sethi sharing a substantial percentage of its portfolio. Piramal Fund Management has team of 8 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Conventional Debt & 2 more
Portfolio IPOs
Portfolio Acquisitions
Piramal Fund Management's List of Top Investments
Piramal Fund Management has a portfolio of 8 companies. Their most notable investments are in Tessol and PeopleHR India.Their portfolio spans across and India. They have invested in Consumer, Enterprise Applications, Gig Economy and 7 other sectors, across stages such as Seed, Conventional Debt and 2 more. Here is the list of top investments by Piramal Fund Management:
1. LEAP
Asset pooling company that provides sustainable supply chain solutions. It offers a range of services, include Equipment pooling, Returnable packaging such as wooden pallets, foldable containers, totes, and crates, Asset management, Transportation, Repair & Maintenance, and Inventory Management.
Key facts about LEAP
- Founded Year: 2013
- Location: Mumbai (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2026
- Stage: Public
- Total Funding till date: $261M
- Employee Count: 293 as on Aug 31, 2025
- Investors: Samena Capital, TVS Capital Funds and 55 Others
- Latest Funding Round: Series E, Dec 20, 2024, $*****
- Highlight: Public
2. goSTOPS
Operator of lodging providing shared rooms and common social spaces. The lodging offers options for both short and longer-term stays. Amenities include Wi-Fi, power backup, and climate control. They also provide spaces for work and social engagement.
Key facts about goSTOPS
- Founded Year: 2014
- Location: Delhi (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $8.41M
- Employee Count: 358 as on Aug 31, 2025
- Investors: CapFort Ventures, Bikram Dasgupta Foundation and 144 Others
- Latest Funding Round: Series A, Mar 11, 2025, $*****
- Highlight: Editors' Pick
Key facts about The Wadhwa Group
- Founded Year: 1969
- Location: Mumbai (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Stage: Series C
- Total Funding till date: $31.5M
- Employee Count: 633 as on Sep 08, 2025
- Investors: Piramal Fund Management and 2 Others
- Latest Funding Round: Series C, Jul 06, 2015, $*****
4. Proeves
Provider of an app-based platform for booking childhood care and education services. Its platform provides facilities for parent counseling, and booking support for preschools and daycares. It also provides home support as well as digital support.
Key facts about Proeves
- Founded Year: 2015
- Location: Mumbai (India)
- Annual Revenue: ₹50 - ₹100 Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $531K
- Employee Count: 9 as on Jul 31, 2025
- Investors: 1Crowd, Piramal Fund Management and 36 Others
- Latest Funding Round: Seed, Dec 07, 2020, $*****
- Highlight: Acquired
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Key facts about Adarsh Developers
- Founded Year: 1988
- Location: Bengaluru (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Stage: Funding Raised
- Employee Count: 644 as on Aug 31, 2026
- Investors: Piramal Group, Kotak Realty Fund and 5 Others
- Latest Funding Round: Conventional Debt, Feb 07, 2019, $*****
Piramal Fund Management's Year-on-Year Investment Trends
Piramal Fund Management has invested in 8 companies over the last 19 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Tessol and most recent follow-on round was in goSTOPS.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 0 | 1 | 1 |
2020 | 1 | 1 | 2 |
2019 | 4 | 0 | 4 |
2018 | 1 | 0 | 1 |
Piramal Fund Management's Investments by Stage
Piramal Fund Management has made 3 investments in Seed stage with an average round size of $437K, 2 investments in Conventional Debt stage with an average round size of $105M, 2 investments in Series A stage with an average round size of $10.2M and 1 investment in Series C stage with an average round size of $31.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 3 |
Conventional Debt | 2 |
Series A | 2 |
Series C | 1 |
Note: We have considered here, only first round of investments
Piramal Fund Management's Investments by Sector
Piramal Fund Management has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Gig Economy, Real Estate and Construction and Transportation and Logistics. Notably, it has invested in 4 Enterprise (B2B) companies, 4 Tech companies, 2 Consumer (B2C) companies and at least 2 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Consumer | 2 |
Enterprise Applications | 2 |
Gig Economy | 2 |
Real Estate and Construction | 2 |
Transportation and Logistics | 2 |
Others | 6 |
Note: We have considered here, only first round of investments
Piramal Fund Management's Investments by Geography
Piramal Fund Management has made most investments in India (8).Piramal Fund Management's recent investments
Piramal Fund Management has not made any investment in 2026 so far.Here are the most recent investments by Piramal Fund Management:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 09, 2021 | India | Seed | 6418 | [+69] | |
Sep 25, 2020 | India | Seed | 7989 | [+80] | |
Mar 21, 2020 | India | Series A | 4286 | [+21] | |
Nov 26, 2019 | India | Seed | 2753 | [+34] | |
Oct 07, 2019 | India | Seed | 5297 | [+9] |
IPOs and Publicly Listed companies in Piramal Fund Management's Portfolio
1 of Piramal Fund Management's portfolio company became public - LEAP. It got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Aug 2026 at marketcap of $736MHere are Piramal Fund Management's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 14, 2026 | Aug 28, 2018 | Conventional Debt | 7897 |
Acquired companies in Piramal Fund Management's Portfolio
1 company from Piramal Fund Management's portfolio has been acquired. The most recent acquisition was Proeves in Sep 2025 by Pluxee for $*****.Here are Piramal Fund Management's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 12, 2025 | Nov 26, 2019 | Seed | 5365 |
Team profile of Piramal Fund Management
Piramal Fund Management has a team of 8 members including 3 Partners and 3 Principals located in India. Piramal Fund Management's team does not sit on the board of any company as of now.Here is a list of all team members in Piramal Fund Management:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Mumbai | - | ||
Partner | - | - | - | |
Partner | Mumbai | - | - | |
Principal | Chennai | - | - | |
Principal | Mumbai | - | ||
Principal | India | - |
Co-investors of Piramal Fund Management
Over the past 19 years, 302 investors have co-invested in Piramal Fund Management's portfolio companies. This includes funds and angels.
- Invested before Piramal Fund Management: Sujit Cherian, Mayfield and 67 others have invested in rounds before Piramal Fund Management. There is 1 company where Sujit Cherian has invested before Piramal Fund Management and 1 company where Mayfield has invested before Piramal Fund Management.
- Top Co-investors of Piramal Fund Management: 80 investors entered a company along with Piramal Fund Management. These include investors like Alok Sethi (2 companies).
- Invested after Piramal Fund Management: A total of 153 investors have invested in Piramal Fund Management's portfolio after their investments. Top Investors include Aeroflex Enterprises (2 companies), Morgan Stanley (1 company) and TVS Capital Funds (1 company).
Recent News related to Piramal Fund Management
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Piramal Investment Advisory Services, 4 Others Settle Case With Sebi By Paying Rs 76.5 LakhBusiness Today•Jul 01, 2021•Piramal Fund Management
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Piramal and CDPQ look to invest in Coca Cola bottlerMint•Apr 05, 2021•Piramal Fund Management, CDPQ, Sri Sarvaraya Sugars
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CDPQ, Piramal backed private credit platform to invest in Coca Cola bottlerVCCircle•Apr 05, 2021•Sri Sarvaraya Sugars, CDPQ, Piramal Fund Management
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CDPQ forms $300m credit financing platform with India’s Piramal GroupDeal Street Asia•Feb 06, 2020•CDPQ, Piramal Group, Piramal Fund Management
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Piramal-backed Indiareit Fund exits from Skylark's Bengaluru projectBusiness Standard•Jan 02, 2020•Piramal Fund Management, Skylark Mansions, JLL India, Piramal Capital & Housing Finance
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Adarsh Developers raises Rs 1,300 Crore to expand Bengaluru portfolioIndiatimes•Feb 07, 2019•Adarsh Developers, HDFC Property Fund, JM Financial, Kotak Realty Fund and 1 other
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GTL Infrastructure: Bain-Piramal, Aion among 4 in race to buy 58% stake in GTL Infrastructure Indiatimes•Nov 10, 2017•GTL Infrastructure, Piramal Fund Management, AION Partners, beaminvestments.com
