VC fund (Cat II) · SEBI registry
Investcorp India Alternatives Fund
Growth (Series C+) · Financial services (non-tech) · Mumbai
At a glance
- Stage focus
- Growth (Series C+)
- Primary sector
- Financial services (non-tech)
- City
- Mumbai
- HQ / office
- Mumbai (93-B Mittal Court, Nariman Point); secondary office Delhi/Gurugram. Parent Investcorp HQ: Manama, Bahrain
- Fund registered
- 2020
- Investments on record
- 18
- Corpus (as reported)
- ~US$500 million deployed across 18 India investments since 2017 (firm-stated)
- Website
- www.investcorp.com
- Profile ↗
About
Investcorp India Alternatives Fund is managed by Investcorp India Asset Managers, the India private equity arm of Investcorp, a Bahrain-headquartered global alternative asset manager; it takes minority growth-stage positions in mid-market Indian companies.
Investment focus
Growth-stage private equity (significant minority stakes) in consumer, healthcare, financial services, software/SaaS, business services, retail and e-commerce; Category II AIF
Cheque size
USD ~25-50 million equity cheques, plus co-investments of USD 40-50 million (growth-stage PE)
As compiled from public sources — verify with the investor.
SEBI registration
SEBI AIF Category II — reported as “Cat II”
- IN/AIF2/20-21/0834
SIDBI Fund of Funds
None found — institutionally/globally backed; firm originated via acquisition of IDFC Alternatives (corporate acquisition, not a government LP). No SIDBI FFS/govt FoF evidence.
Notable portfolio
XpressBees; FreshToHome; NephroPlus; Wakefit; Bewakoof; Citykart; ZoloStays; InsuranceDekho
Team & organisation
Investcorp India launched with ~21 investment professionals; managing entity (Investcorp India Asset Managers Pvt Ltd) ~44 employees
Private-limited-company-managed Category II AIF (managed by Investcorp India Asset Managers Pvt Ltd); part of multi-fund India platform. Scheme: Investcorp Growth Opportunity Fund (SEBI IN/AIF2/20-21/0834)
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Frequently asked
- What does Investcorp India Alternatives Fund invest in?
- Growth-stage private equity (significant minority stakes) in consumer, healthcare, financial services, software/SaaS, business services, retail and e-commerce; Category II AIF
- What cheque size does Investcorp India Alternatives Fund write?
- As compiled from public sources: USD ~25-50 million equity cheques, plus co-investments of USD 40-50 million (growth-stage PE)
- How do I pitch Investcorp India Alternatives Fund through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ foreign-HQ (parent Investcorp, Bahrain); growth-stage PE (not classic startup seed VC)
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.investcorp.com/contact-us/; https://www.investcorp.com/what-we-do/private-equity/private-india/