Kettleborough VC Fund — Kettleborough VC | Wisefolio

Kettleborough VC Fund

We like to co-partner with Founder-Market Fit companies and consciously help them in achieving sustainable Ebitda positive growth.

SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.

Overview

About

Kettleborough VC Fund (IN/AIF1/20-21/0805) is a SEBI-registered Category I Alternative Investment Fund (registered May 2020) — a solo GP early-stage venture capital fund founded in 2020/2021 by Nisarg Shah, based in Ahmedabad, Gujarat. Kettleborough is one of India's first prominent solo GP VC funds, focused on seed and pre-Series A investments in technology-centric Indian startups led by serial entrepreneurs and domain experts with 10+ years of experience. The fund backs Founder-Market Fit companies and aims to co-create sustainable, EBITDA-positive businesses. Fund I closed at USD 5 million in October 2022 with LPs comprising business owners and startup founders. Fund II launched in July 2025, targeting INR 80 crore corpus with a first close of INR 35 crore backed by family offices and entrepreneurs from India and the US. Initial cheque size: USD 150K–500K per deal; significant follow-on reserves. As of early 2025, Kettleborough has invested in 32+ companies, participated in 80+ follow-on rounds, and achieved 10+ exits (including Sage Group IPO and WizKlub acquisition). Pre-fund angel portfolio included Phablecare, Otipy, Homecapital, Onebanc, BigSpoon, and others.

Investment philosophy

Kettleborough VC's investment philosophy is conviction-led, construct-specific, and founder-first. Nisarg Shah does not chase trends or sector themes; instead, he focuses on three criteria: (1) Founder-Market Fit — backing experienced founders with 10+ years of deep domain expertise in their specific market; (2) Sustainable business models — prioritising quality revenue and capital efficiency over hypergrowth, favouring ventures that can achieve sustainable EBITDA-positive growth; (3) Legacy-industry openness — actively investing in sectors like financial services, retail, and commerce infrastructure that traditional VCs overlook due to perceived complexity. Technology is viewed as a support tool, not the defining factor. Kettleborough builds independent conviction early (ideation or pre-product stage), co-ideates with founders, and adds value through revenue model insights, upstream investor introductions, and business partnerships.

Team1

Nisarg Shah

Founder & General Partner / SEBI Contact Person

Nisarg Shah is the Founder and sole General Partner of Kettleborough VC — one of India's first solo GP venture capital funds. He began as an angel investor, backing 20+ companies including Phablecare, Otipy, Homecapital, Onebanc, and BigSpoon before launching Kettleborough VC in 2020/2021. He focuses on experienced founders with 10+ years of domain expertise in legacy-heavy sectors. He is a graduate of Gujarat Technological University, Ahmedabad. Under his leadership, Kettleborough has deployed capital in 32+ companies with 80+ follow-on rounds and 10+ exits as of early 2025.

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF1/20-21/0805

RegisteredMay 2020 (6 years ago)

Valid untilPerpetual

Contact personNisarg Shah

Address14, Panchvati Society, Near Jai Hind Cross Roads, Maninagar, Ahmedabad, Gujarat, 380008

Investment manager

Insights

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Disclaimer

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