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India Deal Review: Kae Capital’s debut fund nets 3.6× return; first fund backs 32 startups
Kae Capital’s debut VC fund delivered ~3.6× return from 32 startups and is now raising a second fund.
On 12 November 2025, it was reported that Kae Capital’s first fund backed 32 startups across India and the US, created approximately US$2.7 billion in enterprise value and yielded ~3.6× returns for investors. Portfolio companies included online pharmacy Tata 1MG, retail-tech platform Fynd and compliance-software firm Certa. The firm said it has now launched its second fund to capture emerging growth in the Indian-US tech start-up corridor.