Kedaara Capital

Stage focus

Growth (Series C+)

Primary sector

E-commerce & Retail

City

Mumbai

HQ / office

2301, Altimus, 23rd Floor, Dr. GM Bhosale Marg, Worli, Mumbai – 400 018, India (Phone: +91 22 6155 8000). Additional office: Suite 11, 1st Floor, Plot 42, Hotel Street, Cybercity 72201, Ebene, Mauritius (Phone: +230 54433412). Kedaara's contact page also lists CD&R-alliance offices in London (Cleveland House, 33 King Street, SW1Y 6RJ, UK) and New York (550 Madison Avenue, NY 10022) — these relate to the strategic alliance with Clayton, Dubilier & Rice, not Kedaara's own HQ.

Fund registered

2012

Investments on record

31

Corpus (as reported)

~USD 5.6 billion AUM managed/advised by the investment team (firm's official about-us page, as stated 2024). A July 2025 firm reference cites "over USD 6 billion." Latest flagship fund (Fund IV) closed at USD 1.74 billion in April 2024 — India's largest-ever PE fund at the time (single close, ~4-month raise; LPs include CPPIB, CDPQ, OTPP, Allianz, HarbourVest, Asia Alternatives). In Sept 2025 Kedaara also raised a ~USD 300 million continuation fund.

Website

kedaara.com

LinkedIn

Profile ↗

Kedaara Capital (legal: Kedaara Capital Investment Managers Ltd / Kedaara Capital Advisors LLP) is a Mumbai-based, India-focused private equity firm founded in 2011 by Manish Kejriwal (ex-Temasek India head, ex-McKinsey partner), Sunish Sharma (ex-General Atlantic MD) and Nishant Sharma. It pursues operationally oriented control and minority growth investments across India, partnering with entrepreneurs and family-owned businesses, and has a strategic alliance with global PE firm Clayton, Dubilier & Rice (CD&R). All founding, AUM (~USD 5.6bn), and Fund IV (US$1.74bn) details were independently confirmed against the firm's official site and multiple reputable outlets.

Growth-oriented control and minority private equity (mid-market to large buyouts; not early-stage VC). Sector-diversified across consumer/retail, financial services & fintech, pharma/healthcare, business services, industrials/auto components, and software/IT (SaaS).

USD 25–75 Mn per investment, up to ~USD 200 Mn in select situations (per Inc42 / industry reporting).

As compiled from public sources — verify with the investor.

SEBI AIF Category II — reported as “Major/growth private equity (control + minority growth investments) / Cat II/Cat III”

• IN/AIF2/12-13/0020
• IN/AIF2/17-18/0368
• IN/AIF2/17-18/0365
• IN/AIF2/21-22/0914
• IN/AIF2/24-25/1530
• IN/AIF2/24-25/1526
• IN/AIF3/24-25/1671

None found — large-cap control/growth PE firm (Fund IV closed at USD 1.73bn); no evidence of SIDBI FFS or other government/DFI LP. (FFS targets startup-stage AIFs.)

Vishal Mega Mart; Vedant Fashions (Manyavar & Mohey); Lenskart; Juspay; Perfios; Care Health Insurance; Mahindra Logistics; Bill Forge

~106 people including ~20 partners (per search/Tracxn); founded 2012 by Manish Kejriwal, Sunish Sharma, Nishant Sharma.

LLP-managed multi-fund private equity manager. India AIF manager entity NISH Capital Investment Advisors LLP (IFSCA FME reg. IFSCA/FME/II/2022-23/003) manages Category II AIF growth funds (Kedaara Capital Growth Fund III/IV LLP etc.); India + Mauritius domiciled fund vehicles.

What does Kedaara Capital invest in?

Growth-oriented control and minority private equity (mid-market to large buyouts; not early-stage VC). Sector-diversified across consumer/retail, financial services & fintech, pharma/healthcare, business services, industrials/auto components, and software/IT (SaaS).

What cheque size does Kedaara Capital write?

As compiled from public sources: USD 25–75 Mn per investment, up to ~USD 200 Mn in select situations (per Inc42 / industry reporting).

How do I pitch Kedaara Capital 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.

VC fund (Cat II)

108 Capital Venture Fund

Growth (Series C+) · Not disclosed · Bengaluru

Contact on file

VC fund (Cat I)

35North India Growth Fund Trust

Growth (Series C+) · Fintech · Mumbai

Approx USD 0.5-3M (INR ~3-20 Cr) per company; 8-10 companies targeted (per inc42 / fund reporting)Contact on file

VC fund (Cat II)

A91 Partners

Growth (Series C+) · Financial services (non-tech) · Mumbai

Typically USD 10M-50M per company (approx INR 80-400+ Cr), targeting ~15 companies per fund.Contact on file

VC fund (Cat II)

a99 Investment AIF Trust

Growth (Series C+) · Manufacturing & Industrials · Chennai

INR 20-80 Cr (pre-Series A to pre-Series B cheques, Fund III)Contact on file

VC fund (Cat II)

Aaroh Capital Trust

Growth (Series C+) · Not disclosed · Bengaluru

Contact on file

Private equity (Cat II)

Access Fund Trust

Growth (Series C+) · Sector agnostic · Mumbai

Contact on file

All Growth (Series C+) investors →

• ⚑ PE-not-early-VC: large-cap/growth private equity firm doing control and large minority buyouts, not seed/early-stage venture — likely a MISMATCH for an early-stage startup-acceleration/incubation program. Has a strategic alliance with CD&R (CD&R's London and New York offices appear on Kedaara's contact page), but Kedaara itself is a private, India-focused firm headquartered in Mumbai (with a Mauritius fund-administration office). No government/DFI ownership found — privately owned/managed (pension funds CPPIB/CDPQ/OTPP and Allianz are fund LPs, not owners). No fraud, parked-domain, or name-collision concerns.

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.kedaara.com/contact/; https://kedaara.com/wp-content/uploads/2025/03/Kedaara-Group-India-Entity-Details-IFSCA.pdf