HNI / super-angel · Curated list
Utpal Sheth (TRUST Group)
Mumbai, Maharashtra
At a glance
- HQ / office
- Mumbai, Maharashtra (BKC)
- Corpus (as reported)
- Personal net worth not public; RARE Enterprises manages assets reported at Rs 8,000+ crore (Value Research); TRUST Group is a leading debt-capital-markets platform
- Website
- trustgroup.in
- Profile ↗
About
Utpal Sheth is Senior Partner and CEO of RARE Enterprises, the proprietary investment firm of the late Rakesh Jhunjhunwala, and Founder-Mentor of TRUST Group, a Mumbai multi-line financial services platform with leadership in debt capital markets. He co-chairs FICCI's Capital Markets committee and continues to run RARE's multi-billion-dollar book with Amit Goela under Rekha Jhunjhunwala's ownership.
Investment focus
Long-term public and private markets; private cheques from seed (PRYM Aerospace) to growth/pre-IPO (smallcase, Akasa Air); ~13 private investments per Tracxn · Financial services/fintech, aviation, consumer, aerospace/deeptech; 'terminal value / gorilla' long-horizon investing
Cheque size
Not publicly disclosed
As compiled from public sources — verify with the investor.
SEBI registration
Not a SEBI AIF / offshore
Notable portfolio
smallcase (angel/Series B 2020; board member since 2016); Akasa Air (private investment alongside Jhunjhunwala family); PRYM Aerospace (seed round, Oct 2025); Aptech (director, Jhunjhunwala group company); TRUST Group (founder stake)
Team & organisation
Utpal Sheth (Senior Partner & CEO, RARE Enterprises; Founder-Mentor, TRUST Group)
No known UP portfolio; high-value target as one of India's most influential long-horizon investors — a single anchor commitment or mentorship association would carry strong signalling value for UP growth-stage startups (fintech, aviation/logistics, deeptech).
Connect through iHub India
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Frequently asked
- What does Utpal Sheth (TRUST Group) invest in?
- Long-term public and private markets; private cheques from seed (PRYM Aerospace) to growth/pre-IPO (smallcase, Akasa Air); ~13 private investments per Tracxn · Financial services/fintech, aviation, consumer, aerospace/deeptech; 'terminal value / gorilla' long-horizon investing
- What cheque size does Utpal Sheth (TRUST Group) write?
- As compiled from public sources: Not publicly disclosed
- How do I pitch Utpal Sheth (TRUST Group) 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.
About this record
- ⚑ Principal alive and active. Note: RARE Enterprises founder Rakesh Jhunjhunwala died Aug 2022; the family office remains active under Rekha Jhunjhunwala with Sheth as CEO. TRUST Group's day-to-day leadership is with his sister Nipa Sheth; trustgroup.in publishes office phones but no email.
Compiled from 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.trustgroup.in; https://www.trustgroup.in/contact-us_our-offices.php; https://www.flame.edu.in/academics/flame-investment-lab/speakers-repository/utpal-sheth