Bipin Shah, one of India’s most prolific startup investors and former partner at Titan Capital, has successfully closed the first fund of his new venture firm, Zeropearl VC, at Rs 159 crore (around $18 million). Though smaller than his initial plan of Rs 250 crore, the size reflects a clear strategy—agility with conviction.
In June, Shah was reportedly in discussions to raise nearly Rs 250 crore, with investor commitments even reaching Rs 280-300 crore. However, he decided to cap the fund at Rs 159 crore to keep the model lean and returns sharper.
Zeropearl VC fund
Shah is clear about his expectations. “I intend to return at least Rs 1,600 crore, which is a 10X return multiple,” he shared. With an impressive internal rate of return (IRR) above 50%, he believes a smaller corpus makes such results more achievable.
His confidence stems from over 14 years of venture investing experience. As an IIT Bombay alumnus, Shah has evaluated more than 50,000 startups and invested in over 250 companies, including well-known names such as Mamaearth, InVideo, Giva, Credgenics, and CityMall.
Strong Founder Support
A striking aspect of Zeropearl VC is the investor base. More than 52% of the capital has been contributed by 31 successful founders, including 19 unicorn leaders and entrepreneurs from IPO-listed or IPO-bound firms.
The rest of the fund is backed by global funds-of-funds and family offices, ensuring not just capital but also mentorship, networks, and access to new markets for portfolio companies.
Portfolio in Action
Zeropearl Fund I has already backed 20 companies, with seven names disclosed so far. These include sneaker brand Gully Labs, health-tech venture Cura Care, AI-powered Catalogus, climatetech startup Zanskar, nutrition brand Supply6, retail platform Tryo, and Akinna.
The fund plans to invest in 45 startups overall, targeting consumer internet, SaaS, generative AI, health and wellness, and emerging areas like climate technology. Shah positions the fund as a solo GP-led pre-seed and seed stage vehicle designed to move quickly and decisively.
Track Record of Success
Shah’s earlier investments have resulted in multiple high-profile exits. These include Beardo (acquired by Marico), Oziva (HUL), and SuprDaily (Swiggy). Such outcomes underline his ability to identify and back startups that scale into category leaders.
His past performance also strengthens confidence among founders and investors who see Zeropearl as an opportunity to leverage his track record and deep network in India’s startup ecosystem.
Founder’s Personal Vision
For Shah, the launch of Zeropearl VC is more than a business milestone—it is a personal restart. “Starting over again wasn’t easy, but this fund is both a fresh beginning and a tribute to the founders who dared to take early risks on themselves,” he said.
He believes Zeropearl VC reflects the spirit of resilience and conviction that founders embody, and he aims to carry forward that same energy into the fund’s investments.
Early-Stage Funding
The arrival of Zeropearl VC adds momentum to India’s vibrant early-stage funding ecosystem, which continues to see strong participation from founders-turned-investors, global capital, and institutional backers.
With growing opportunities in consumer tech, SaaS, AI, and climate-driven innovation, funds like Zeropearl are expected to play a crucial role in shaping the next wave of Indian startups, providing not just capital but also experience-led guidance.
As Shah moves ahead with Zeropearl VC, the focus remains on building a portfolio of 45 high-potential startups that can generate outsized returns. By staying agile with a smaller corpus and leaning on founder-driven support, he hopes to create a fund that reflects speed, conviction, and discipline.
