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Key Highlights of the Portfolio of Caspian

Caspian has a portfolio of 30 companies. Their most notable investments are in VBHC and Veritas Finance.
Their portfolio spans across India, United States, NetherlandsÌý²¹²Ô»å 1 more locations. They have invested in Food and Agriculture Tech, Enterprise Applications, Environment TechÌý²¹²Ô»å 12 other sectors, across stages such as Series A, Conventional Debt Ìý²¹²Ô»å 5 more.

Here is the list of top investments by Caspian

Provider of a operator of a multi-brand cloud kitchen network. The company utilizes a technological infrastructure that streamlines processes from sourcing ingredients to customer acquisition. Its kitchens are equipped with advanced technology to ensure food safety and hygiene. The business model includes both direct-to-consumer sales and brand incubation for scaling food businesses.

Key facts about Curefoods

  • Founded Year: 2020
  • Location: Bengaluru (India)
  • Annual Revenue: ₹635Cr as on Mar 31, 2024
  • Valuation: ₹3,820Cr as on Dec 12, 2024
  • Stage: Series D
  • Total Funding till date: $175M
  • Employee Count: 2,991 as on Feb 28, 2025
  • Investors: Accel, Brand Capital and 59 Others
  • Latest Funding Round: Conventional Debt, Mar 24, 2025, $6.6M
  • Highlight: Editors' Pick
Ujjivan Small Finance Bank Limited is a RBI licensed small finance bank. It is a wholly owned subsidiary of Ujjivan Financial Services Ltd., which is a leading microfinance organization and was one of the ten recipients of first set of small finance bank licenses. Has a network of 160+ branches across 24 states, and provides the full range of banking services with a focus on the underserved market.

Key facts about Ujjivan Small Finance Bank

  • Founded Year: 2005
  • Location: Bengaluru (India)
  • Annual Revenue: ₹6,460Cr as on Mar 31, 2024
  • Stage: Public
  • Total Funding till date: $154M
  • Employee Count: 22,566 as on Mar 31, 2024
  • Investors: Standard Chartered, CX Partners and 38 Others
  • Latest Funding Round: Post IPO, Sep 12, 2022, $59.6M
  • Highlight: Public
Equitas Small Finance Bank is an RBI-registered small finance bank, which commenced its operations on September 5, 2016. It is a subsidiary of Equitas Holdings, which was one of leading MFIs in the country. It is the first private sector bank from Tamil Nadu to commence operations post Indian independence. Has Pan India operations and provides the full range of banking services and products to individuals and MSMEs.

Key facts about Equitas Small Finance Bank

  • Founded Year: 2007
  • Location: Chennai (India)
  • Annual Revenue: ₹6,290Cr as on Mar 31, 2024
  • Stage: Public
  • Total Funding till date: $195M
  • Employee Count: 25,593 as on Jan 31, 2025
  • Investors: WestBridge Capital, Aquarius Investment Advisors and 45 Others
  • Latest Funding Round: Series D, Jan 06, 2020, $19.5M
  • Highlight: Public
Microfinance bank. Jana Bank is one of the first ten NBFCs granted RBI licenses to convert to a small finance bank. The bank has developed a profound understanding of the unique financial needs. The bank has been at the forefront of digital innovations, launching multiple products & services to provide best-in-class banking experience to its customers.

Key facts about Jana Small Finance Bank

  • Founded Year: 1999
  • Location: Bengaluru (India)
  • Annual Revenue: ₹4,680Cr as on Mar 31, 2024
  • Stage: Public
  • Total Funding till date: $814M
  • Employee Count: 26,320 as on Feb 28, 2025
  • Investors: HarbourVest Partners, TPG and 88 Others
  • Latest Funding Round: Series G, Jan 19, 2024, $13.6M
  • Highlight: Public
Provider of food supply chain management solutions. The services include connecting farmers to retailers, AI based demand forecasting, inventory management, climate adaption programs and more. It distributes staples, fruits, vegetables, dairy products, and more. It also provides farming solutions, logistics and distribution solutions, supply chain, private label packaging, and more.

Key facts about WayCool

  • Founded Year: 2015
  • Location: Chennai (India)
  • Annual Revenue: ₹1,260Cr as on Mar 31, 2023
  • Valuation: ₹6,320Cr as on Sep 06, 2024
  • Stage: Series D
  • Total Funding till date: $366M
  • Employee Count: 265 as on Dec 31, 2024
  • Investors: IFC, FMO and 90 Others
  • Latest Funding Round: Series D, Jan 09, 2025, $4.45M
  • Highlight: Editors' Pick
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