What matters most begins

After Capital

A founder-led investment and advisory platform built for a world where capital is abundant

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Healthcare
Nutrition
Longevity
Human Performance
Consumer
Artificial Intelligence
The
Shift
The
Shift
The
most
valuable
things
in
the
world
no
longer
fit
on
a
balance
sheet
The
most
valuable
things
in
the
world
no
longer
fit
on
a
balance
sheet
Farmer walking through blue-lit crop fields, representing the agrarian eraWorker among factory machinery, representing the industrial eraPerson working at a laptop facing city towers, representing the financial eraPerson standing among server racks, representing the digital eraRobotic arms on an automated production line, representing the AI eraPerson meditating on a hilltop at sunrise, representing human flourishing
Our investment thesis

Every era is
defined by what is scarce.

Agrarian era
industrial era
Financial era
Digital era
AI era
Human Flourishing

Agrarian era

~10,000 BCE – 1700

What was scarce

Land

People ran towards

Territory, resources and agricultural output.

What became abundant

Food and basic sustenance.

Industrial era

1700 – 1900

What was scarce

Labour

People ran towards

Scale, mechanization and productivity.

What became abundant

Mass production and manufactured goods.

Financial era

1900 – 2000

What was scarce

Capital

People ran towards

Wealth, ownership and financial returns.

What became abundant

Businesses, infrastructure and global trade.

Digital era

2000 – 2020

What was scarce

Information

People ran towards

Knowledge, connectivity and global access.

What became abundant

Information, content and distribution.

AI era

2020 – 2030

What was scarce

Intelligence

People ran towards

Automation, capability and speed.

What became abundant

Intelligence, tools and technological capability.

Human Flourishing

2030+

What is scarce

Human flourishing

People will run towards

A better life

What could become abundant

Healthier, longer, more meaningful and more fulfilling lives.

01
06
The next era belongs to

Businesses that matter.

Contact Us Now
HEALTHCARE & PREVENTION
Proactive healthcare

Detecting risks early and making preventive care more accessible.

LONGEVITY
Living better for longer

Extending healthspan through advances in ageing and biological resilience.

NUTRITION & APPLIED SCIENCE
Next-generation nutrition

Translating scientific discoveries into better nutrition solutions.

CONSUMER & CULTURE
Brands with cultural

Depth Building brands that earn trust and influence everyday choices.

ARTIFICIAL INTELLIGENCE
Intelligence that empowers

Unlocking new possibilities in human productivity, discovery and decision-making.

WELLNESS & HUMAN PERFORMANCE
Human potential, Redefined

Advancing recovery, resilience and performance through better experiences.

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All Companies
Artificial Intelligence
B2B & Infrastructure
Consumer Brands
Food & Nutrition
Healthcare & Wellness
Sustainability

Our Portfolio

Different sectors. One worldview.

All Companies
All Companies
Artificial Intelligence
B2B & Infrastructure
Consumer Brands
Food & Nutrition
Healthcare & Wellness
Sustainability

E-waste and Li-ion battery recycler that has processed 1,00,000+ MT and recovers cobalt for India.

Rajesh Gupta
Founder
Rupesh Chitte
Founder
SUSTAINABILITY
Investment Thesis
Critical minerals will decide India's energy transition, and Recyclekaro is the scaled domestic source.
The Gap

Informal recyclers burn and leach cells in the open, losing most of the value. Few formal players can take a lithium-ion pack apart and return refined metal.

Details

Over 90% material recovery from end-of-life batteries

375+ corporate partners feeding a steady supply

IIT Bombay technology licence; CPCB and MPCB authorised, ISO 9001, 14001, 45001

Visit Website

Pharma distribution operator consolidating 80,000 distributors onto one platform, targeting ₹6,500 Cr GMV by FY30.

Ankit Solanki
Founder
HEALTHCARE
Investment Thesis
Pharma distribution consolidates into a few owners everywhere; Kyoora is building India's.

The Gap

Distribution is the least digitised link in Indian pharma. Orders move by phone and paper, and no distributor can fund software alone.

Details

~3,000 manufacturers and 9 lakh pharmacies sit on either side of the chain

A pharmacy buys from about 20 distributors today

Target of 70,000+ retailers by FY30

Visit Website

Paris luxury perfume house founded in 2013, stocked at Harrods and backed by Eurazeo Brands.

Sylvie Loday
Founder
Olivier Royère
Founder
Benoît Verdier
Founder
LUXURY FRAGRANCE
Investment Thesis
A proven Paris luxury house with global retail reach, now with Indian capital behind it.

The Gap

Niche luxury perfumery is dominated by European houses, and entry into top retail demands a distinct creative identity.

Details

Founded by three luxury-industry veterans

Built on a belief in radical creative freedom in perfumery

Creative direction stays with the founders

Visit Website

B2B quick-commerce for kirana stores, delivering 1,000+ FMCG products in under 60 minutes to 20,000+ retailers.

Prateek Bansal
Founder
Yash Bansal
Founder
COMMERCE
Investment Thesis
Whoever owns the kirana's daily restock owns the layer between brands and 13 million shops.

The Gap

Kiranas restock from wholesale markets with little credit or price visibility. Quick-commerce apps serve consumers, not the shop owner buying inventory.

Details

$15M raised, led by Bertelsmann India Investments

25+ brands grew retailer reach 38% in four months

One shop moved from ₹30-35K bulk buys to ₹5-6K daily orders

Visit Website

Clinical-grade longevity and wellness equipment maker, with 50+ projects delivered across 5+ countries.

Akshay Vatsa
CEO
WELLNESS INFRASTRUCTURE
Investment Thesis
Every longevity clinic needs equipment; Alteon sells the picks and shovels, not one brand's bet.

The Gap

Premium longevity centres mostly run on imported machines, with long lead times, high costs and little local service.

Details

Designs and manufactures its own equipment

Offices in Mumbai, Albany and Dubai

Part of India's rehabilitation and assistive technology ecosystem

Visit Website

Herbal extract manufacturer supplying 200 products and 20 branded ingredients to health brands in 50 markets.

Madhu Krishnamani
Founder
Gaurav Soni
Founder
NUTRACEUTICALS
Investment Thesis
A manufacturer serving hundreds of brands grows with the whole category, not one label.

The Gap

Global supplement brands want standardised, certified botanicals, but plant sourcing is fragmented and hard to audit.

Details

Vertically integrated, seed to extract

Built to TGA, MEDSAFE and EU standards

$30M raised in January 2025 for international expansion; offices in 6 countries

Visit Website

AI demand-forecasting and growth partner that cut Victoria's Secret planning time by 50% at 90% accuracy.

Ishmeet Singh Anand
Founder
Nabheet Madan
Founder
SUPPLY CHAIN AI
Investment Thesis
Enterprise AI with a proven result at a global retailer is rare, and this team has the delivery record to repeat it.

The Gap

Retail forecasting still leans on spreadsheets and judgement, and generic AI tools rarely fit a brand's own data.

Details

Founded 2019 by an operator with 16+ years in digital transformation

60+ brands retained across five continents

Visit Website

Biofortified atta and rice brand, India's first, raised ₹10 Cr to put nutrition into everyday staples.

Prateek Rastogi
Founder
Aishwarya Bhatnagar
Founder
NUTRITION
Investment Thesis
Staples are in every kitchen and supplements are not, so fortification reaches further.

The Gap

Dietary advice asks households to change habits, and most do not. Micronutrient deficiencies persist even where calories are sufficient.

Details

Founded in 2017 by a husband-and-wife team

Backed publicly by PV Sindhu

Featured on Shark Tank India, Season 4

Visit Website

Self-care brand built only for teens, founded by ex-Nykaa leaders and seeded with ₹10 Cr led by Fireside.

Rishi Seth
Founder
Mantosh Roy
Founder
CONSUMER
Investment Thesis
Teens are a category of their own, and the founders bring the e-commerce operating experience to serve it.

The Gap

Teenagers get scaled-down adult products or none at all, despite spending heavily on skin and grooming.

Details

Products shaped by the Sammmm Squad, a community of teen testers

Visit Website

Rooftop solar installer for homes, businesses and industry, listed on BSE SME five years after its 2019 start.

Bhargv Vachhani
CEO
ENERGY
Investment Thesis
Rooftop solar adoption needs execution, and a listed installer brings governance with it.

The Gap

Rooftop solar has many installers and few reliable ones, with quality and after-sales service varying widely.

Details

ISO 9001:2015 certified

Converted from a partnership to a public limited company

Visit Website

Clean-label OTC remedies for children aged 2+, on 1mg and seeded with ₹8 Cr led by Fireside.

Sanil Bhatia
Founder
Vishakha Paliwal
Founder
CHILDREN'S HEALTH
Investment Thesis
Parents will pay for ingredients they trust, and no one has owned that trust in children's OTC.

The Gap

Parents read labels closely, yet children's remedies are often adult formulations with added sweeteners and colours.

Details

Co-founded in late 2024

Range spans hydration, cough care and throat relief

Visit Website

Agentic AI for enterprise workflows, from documents to hiring, built on 15+ years of IT automation.

Aditya Singh
Founder
ENTERPRISE AI
Investment Thesis
Enterprises are moving from chat to agents that complete work; Ibotix has the automation depth to deliver it.

The Gap

Most enterprise AI stops at answering questions. Work still waits for people to move files, check records and trigger the next step.

Details

Recognised under Start-up India

Visit Website

AI ad-yield platform for publishers on its own DSP, Zillion Ex, across CTV, DOOH, app and web.

Shaurya Rao Nigam
Founder
Amandeep Kamboj
Founder
AI ADTECH
Investment Thesis
Owning the demand-side platform gives small publishers yield they could not buy before.

The Gap

Small publishers sell inventory through intermediaries, losing margin at every layer and seeing little of how ads perform.

Details

Integrated with Google

Headquartered in Singapore with a builder base in India, founded 2022

Visit Website

Clean oral-care brand across toothpaste, whitening and electric brushes, at ~₹70 Cr revenue in four years.

Jatan Bawa
Founder
Tushar Khurana
Founder
ORAL CARE
Investment Thesis
Digital-first brands can rebuild daily-use categories, and Perfora is doing it in oral care.

The Gap

Mass toothpaste competes on foam, flavour and price, with little attention paid to ingredients.

Details

Founded in 2021

$8.63M raised across 5 rounds, led by RPSG Capital

Founder-written newsletters keep it close to customers

Visit Website

AI video-ad generator that turns a brief into a studio-quality ad in minutes, at ~$4.4M ARR.

Rituraj Biswas
Founder
Neha Soman
Founder
AI ADTECH
Investment Thesis
Creative is the bottleneck in performance marketing, and video is where it hurts most.

The Gap

Brands need dozens of ad variants a week, but agency production takes days and a budget most growing brands lack.

Details

Raised ₹7 Cr in a Pre-Series A

Visit Website

Performance footwear and sportswear designed for Indian feet, co-founded by Sachin Tendulkar and launched in 2024.

Karthik Gurumurthy
Founder
Sachin Tendulkar
Founder
Karan Arora
Founder
SPORTSWEAR
Investment Thesis
India's sports market has no homegrown performance footwear brand, and a name the country trusts leads this one.

The Gap

Imported sports brands design for foot shapes from elsewhere, while Indian players have competed mostly on price.

Details

Launched from Bengaluru

Unveiled publicly in Mumbai in 2025

Visit Website

Portable South Indian sweets brand that grew from ₹2,000 in 2015 to a ₹300 Cr+ run rate.

Nalini Parthiban
Founder
Anand Bharadwaj
Founder
Srivatsan Sundararaman
Founder
Veera Raghavan
Founder
CONSUMER
Investment Thesis
Founders who proved demand on ₹2,000 can compound it with institutional capital.

The Gap

Traditional sweets are regional, short-lived on shelf and tied to festivals, so they rarely become national brands.

Details

Four cousins, one family recipe book

Named to the Forbes Asia 100

Backed by Peak XV Partners

Visit Website

Private-label cosmetics manufacturer formulating for 50+ beauty brands, backed by ₹100 Cr.

Rahul Tandon
Founder
Nukul Mehra
Founder
MANUFACTURING
Investment Thesis
India's beauty boom needs manufacturing capacity, and Naturis is the scaled R&D-led player.

The Gap

New beauty brands need formulation expertise and compliant facilities that most cannot build alone.

Details

Founded in Jammu in 2011

New facility in Vapi expanding manufacturing and R&D

Visit Website

Exposome-based skincare for Indian skin, used by 70,000+ people and prescribed by 2,000+ doctors.

Dr. Renita Rajan
Founder
DERMATOLOGY-LED SKINCARE
Investment Thesis
Clinical evidence is the moat in Indian skincare, and CHOSEN is the one publishing it.

The Gap

Most skincare research is run on lighter skin tones, leaving melanin-rich skin with products never validated for it.

Details

Founded in 2020 by Dr. Renita Rajan

First Indian topical contour serum published in a clinical journal

Series A backing tied to L'Oréal

Visit Website

Precision-fermentation protein company that began as a low-calorie ice cream brand in 2018.

Sourav Padhee
Founder
Shama Bhat
Founder
FOOD SCIENCE
Investment Thesis
Alternative protein will be built on fermentation, and IUVA has a revenue-earning base to fund the science.

The Gap

Protein demand is rising while livestock is resource-heavy. Fermentation-derived protein is still early and mostly built abroad.

Details

Incubated at KIIT

Research now runs under IUVA Labs

Co-founder with a biotech background

Visit Website

Fine fragrance from Kannauj's perfumers, the first Indian fine-fragrance brand at Sephora.

Navneet Kaur
Founder
Fatema Raja
Founder
LUXURY FRAGRANCE
Investment Thesis
India's perfumery heritage had no global luxury champion, and this is the first built to be one.

The Gap

Kannauj has made attar for generations, but the craft rarely reaches buyers outside local markets or under a luxury identity.

Details

Featured in the Financial Times

Rooted in South Asian heritage and Ayurveda

Visit Website

Advisory-first investing app for retail investors, backed by a $10M Series A led by Bertelsmann.

Pranit Arora
Founder
Avneet Dhamija
Founder
Vikash Agrawal
Founder
WEALTHTECH
Investment Thesis
Retail investors need guidance before trades, and that ground is open in India.

The Gap

Most retail investors in India act on tips and social media, with few affordable sources of research and guidance.

Details

Founded in 2022

Building India's stock market superapp

Projecting a nine-fold revenue jump by FY27, per VCCircle

Visit Website
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What comes after success?

I am a first-generation entrepreneur. Four ventures failed before I found success with my fifth, Wellbeing Nutrition.

Those failures taught me that conviction without adaptation is expensive, that ambition needs discipline, and that timing matters. Working in health and nutrition left me with one question: what does it actually mean to improve someone's life? It has stayed with me. After Capital is the next chapter: applying what I learned as an operator across a wider set of founders and ideas, in health, longevity, science, consumer, AI and the experiences that shape how we live. I don't have all the answers. But the right questions, asked with the right people, can help us build better ones. After Capital is my attempt to do that: to invest, advise, learn and build alongside the founders shaping what comes next.

Capital was the beginning. What we build with it is the responsibility.

Avnish Chhabria
Founder After Capital
A Note from the Founder
8 principles
Operating System
8 principles
Operating System

Our Investment Philosophy

We don’t chase momentum. We back inevitabilities; and these 8 principles guide every investment we make.

01

Scarcity Before Scale

Invest where real scarcity is being solved, not manufactured.

02

Human Outcome First

Ask what changes in a human life if it works.

03

Agency Over Automation

Technology should amplify human capacity, not replace human agency.

04

Signal Over Noise

Look for cultural pull before market consensus.

05

Conviction Before Consensus

Back founders who are early, independent, and willing to be misunderstood.

06

Stewardship Over Ownership

Treat capital as responsibility, with growth and exits approached with restraint.

07

Science Before Story

Let evidence lead, especially where health and technology are involved.

08

Legacy Over Liquidity

Build for enduring relevance, trust, and impact, not just the exit.

What we do

We don’t just fund companies. We build with them.

We support founders with
Person reviewing products on a lit shelfScientist working in a laboratoryPerson examining product packagingPeople in a retail space planning a product launchFormulation scientist testing ingredients in a labPerson overlooking a busy shipping port, representing international scaling
Product & positioning
Scientific credibility & claims
Brand, packaging & narrative
Go-to-market & retention
Ingredients & formulation strategy
International scaling
Person reviewing products on a lit shelf
Product & positioning
Scientist working in a laboratory
Scientific credibility & claims
Person examining product packaging
Brand, packaging & narrative
People in a retail space planning a product launch
Go-to-market & retention
Formulation scientist testing ingredients in a lab
Ingredients &
formulation strategy
Person overlooking a busy shipping port, representing international scaling
International scaling

Tell Us What You’re Building

Step-01
Step-02
Step-03
Step-04
Step-05
The Idea
Tell us what you’re building and why it matters.
The Opportunity
What are you seeing that others might be missing?
The Principles
Tell us what you believe, and what you won’t compromise.
The Founder
Why are you the person to build this?
Your Details
So we know who to get back to.
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Your answers give us a deeper understanding of what you’re building, why it matters, and the thinking behind it.

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// What We Do