Montane Ventures

Montane Ventures (IN/AIF1/15-16/0197) is a SEBI-registered Category I Venture Capital Fund managed by Montane Ventures Private Limited (CIN: U67190MH2015PTC269561), a Piramal Group-backed early-stage venture capital firm founded in 2015 and based in Mumbai. The fund was established with the IL&FS Financial Centre, Plot C-22, G Block, Bandra Kurla Complex as its registered office (with IL&FS Trust Company Ltd. as trustee, contact: Vishwas Pathak) and 8th Floor, Piramal Towers, Peninsula Corporate Park, G.K. Marg, Lower Parel, Mumbai 400013 as its correspondence office (subsequently moved to 4th Floor, Piramal Tower Annexe, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013). The fund's directors include Nandini Ajay Piramal (Executive Director, Piramal Enterprises Limited), Joshua Alan Bornstein, Kshitish Bapat, and Puneet Gulati — confirming the Piramal Group's involvement. Montane invested in early-stage technology companies across enterprise applications, fintech, life sciences, edtech, and medtech, with operations spanning Mumbai, Bangalore, and Washington DC. The fund made 7–8 investments including GreyAtom (AI/edtech, acquired), Remidio (ophthalmic AI diagnostics), Healthi (employee wellness), Sedemac (automotive electronics), Hybrent (healthcare enterprise systems), and Adori AI. The fund is confirmed closed (PitchBook: last investment November 2019). Key co-investors include Ritesh Arora and Pravega Ventures.