Building Companies of Consequence
Bharat Seed Fund (IN/AIF1/22-23/1163) is a SEBI-registered Category I Alternative Investment Fund registered in November 2022 and managed by CIIE Advisors Private Limited — the investment management arm of CIIE.CO at IIM Ahmedabad. It is a sibling fund to the Bharat Innovation Fund (deep-tech, 2018) and the Bharat Inclusion Seed Fund (fintech inclusion), both also managed by CIIE Advisors. CIIE.CO, incubated at IIMA Ventures, is a leading innovation and entrepreneurship platform that has backed over 14 deep-tech and inclusion-focused startups across healthcare, agri-tech, fintech, edtech, and advanced manufacturing. Bharat Seed Fund extends the CIIE.CO platform's commitment to providing patient early-stage capital to transformative Indian startups. The fund operates autonomously under its own Board and Investment Team, with no government or IIM Ahmedabad control, and is headquartered at the IIMA Ventures Building, IIMA New Campus, Ahmedabad.
Kunal Upadhyay
Managing Partner & CEO, CIIE.CO
Kunal Upadhyay is the founding Managing Partner and CEO of CIIE.CO. He founded CIIE at IIM Ahmedabad in 2005 and co-founded Infuse Ventures before launching the Bharat fund platform.
Sanea Vakaliya
Head – Finance, Legal & Compliance, CIIE Initiatives
Sanea Vakaliya is the SEBI-registered contact person for Bharat Seed Fund and leads finance, legal, and compliance functions at CIIE Initiatives. She is a Company Secretary by qualification.
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