Banyantree India Growth Capital Fund — BanyanTree Finance | Wisefolio

Banyantree India Growth Capital Fund

Fueling entrepreneurial ambition across diverse sectors

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

BanyanTree India Growth Capital Fund is a Category II AIF managed by BanyanTree Finance Private Limited, a Mumbai-based mid-market private equity firm founded in 2008. Registered with SEBI in February 2026, this is BanyanTree's fourth fund and first SEBI-registered domestic AIF — its earlier vehicles (BanyanTree Growth Capital I, II, and III / BanyanTree India Growth Capital Fund) were Mauritius-based. BanyanTree Finance has raised approximately USD 300 million across its three prior funds, with LPs including some of the world's largest development finance institutions (DFIs from Netherlands and Germany), sovereign wealth funds, fund-of-funds, and insurance companies. The firm invests growth capital for significant minority stakes and, in select cases, undertakes control transactions in mid-market Indian companies targeting underserved niches and geographies across manufacturing, consumer, financial services, healthcare, and education. Notable exits include SK Finance (~3x), Popular Vehicles & Services IPO (~10x multiple), GPT Healthcare IPO (~12x multiple), and City Union Bank. BanyanTree has invested in 35+ companies since inception and exited 12+ of them. The fund's registered office is at Trade Centre, Bandra Kurla Complex, Mumbai.

Investment philosophy

BanyanTree Finance's investment philosophy is centred on partnering with bootstrapped and first-generation businesses, driven by the vision, resilience, and passion of their founders to achieve sustainable growth. The firm targets companies in underserved niches and geographies as the first or early institutional investor, providing strategic support alongside capital. BanyanTree is committed to driving positive developmental outcomes through a strong focus on ESG principles and alignment with the UN Sustainable Development Goals (SDGs). The firm's strategy focuses on selective investments — making fewer, higher-conviction bets with meaningful minority or control stakes — rather than spray-and-pray portfolio construction.

Team14

Ashish Agarwal

Managing Director

Ashish Agarwal is the Managing Director of BanyanTree Finance Private Limited. He joined BanyanTree as MD following the departure of Abhishek Poddar in June 2023 (per VCCircle). He leads the firm's investment strategy, fund management, and portfolio oversight across BanyanTree's mid-market PE mandate.

Avinash Samala

Director

Avinash Samala is the designated SEBI contact person for BanyanTree Growth Capital IV Trust and a key member of BanyanTree Finance's investment team.

Sanjiv Singhal

Managing Director

Rakesh Bhutoria

Managing Director

Naval Totla

Managing Director

Gaurav Dhandharia

Associate Director

Yash Daga

Senior Associate

Aanchal Mohota

Associate

Ferzad Patel

Manager

Sumedha Singhal

Advisor

Marketing and Branding

Gaurav Gupta

Advisor

President - BD

Amit Singh

Advisor

CEO Designate

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF2/17-18/0515

RegisteredJan 2018 (8 years ago)

Valid untilPerpetual

Contact personMitin Jain

Address210 & 210A, 2nd Floor, Trade Centre, , Opp. MTNL,G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, 400051

Investment manager

Insights

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Disclaimer

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