# Seed investors based in Mumbai (2026 list)

> 21 seed investors based in Mumbai, 90% active in the last 12 months. Led by Matrix Partners India, 9Unicorns, Alteria Capital. Ranked by what they funded.

Source: https://millionrounds.com/lists/seed-investors-based-in-mumbai (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Seed investors based in Mumbai

Updated 7 November 2026

Firms with an address in Mumbai that we have watched take part in a seed round in the last two years.

[See all 21 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fseed-investors-based-in-mumbai)The top 21

**21** investors on the list No change this week

**66** cheques in 12 months *-2%* against the market

**$6.3M** median round they joined *-21%* against the market median

**90%** wrote a cheque in 12 months

**48%** have led a round

## The Top 21

Ordered by cheques observed, never by anything anyone paid for

Deploying now (19)

- 1 [Matrix Partners India](https://millionrounds.com/fund/matrix-partners-india) *Deploying now* VC firm · India **109** **$10M** median round **Oct 2026** last seen
- 2 [9Unicorns](https://millionrounds.com/fund/9unicorns) *Deploying now* VC firm · India **91** **$4.4M** median round **Oct 2026** last seen
- 3 [Alteria Capital](https://millionrounds.com/fund/alteria-capital) *Deploying now* Venture debt · India **81** **$11M** median round **Oct 2026** last seen
- 4 [ah! Ventures](https://millionrounds.com/fund/ah-ventures-2) *Deploying now* VC firm · India **31** **$6.3M** median round **Mar 2026** last seen
- 5 [IvyCap Ventures](https://millionrounds.com/fund/ivycap-ventures) *Deploying now* VC firm · India **22** **$11M** median round **Nov 2026** last seen
- 6 [Unilazer Ventures](https://millionrounds.com/fund/unilazer-ventures-private-limited) *Deploying now* Private equity · India **11** **$20M** median round **Oct 2026** last seen
- 7 [Equanimity Investments](https://millionrounds.com/fund/equanimity-investments) quiet VC firm · India **7** **$3M** median round **Jan 2025** last seen
- 8 [WEH Ventures](https://millionrounds.com/fund/weh-ventures) *Deploying now* VC firm · India **5** **$2.7M** median round **Jul 2026** last seen
- 9 [Avaana Capital](https://millionrounds.com/fund/avaana-capital) *Deploying now* VC firm · India **3** **$4.5M** median round **Oct 2026** last seen
- 10 [Cedar Hill Capital](https://millionrounds.com/fund/cedar-hill-capital) *Deploying now* VC firm · India **3** **$3M** median round **Oct 2026** last seen
- 11 [360 ONE](https://millionrounds.com/fund/360-one) *Deploying now* Private equity · United States **3** **$87M** median round **Sept 2026** last seen
- 12 [CDM Capital](https://millionrounds.com/fund/cdm-capital) *Deploying now* VC firm · India **2** **$3M** median round **Oct 2026** last seen
- 13 [Centre Court Capital](https://millionrounds.com/fund/centre-court-capital) *Deploying now* VC firm · India **2** **$6.6M** median round **Oct 2026** last seen
- 14 [Singularity AMC](https://millionrounds.com/fund/singularity-amc) *Deploying now* Growth equity · India **2** **$65M** median round **Oct 2026** last seen
- 15 [Tomorrow Capital](https://millionrounds.com/fund/tomorrow-capital) *Deploying now* VC firm · India **2** **$9M** median round **Aug 2026** last seen
- 16 [Unicorn India Ventures](https://millionrounds.com/fund/unicorn-india-ventures) *Deploying now* VC firm · India **2** **$2.6M** median round **Oct 2026** last seen
- 17 [ALSiSAR IMPACT](https://millionrounds.com/fund/alsisar-impact) quiet VC firm · India **1** **$1M** median round **Feb 2025** last seen
- 18 [Boundless Ventures](https://millionrounds.com/fund/boundless-ventures) *Deploying now* VC firm · India **1** **$7.1M** median round **Nov 2026** last seen
- 19 [Giga Capital](https://millionrounds.com/fund/giga-capital) *Deploying now* VC firm · India **1** **$738K** median round **Nov 2026** last seen
- 20 [NKSquared](https://millionrounds.com/fund/nksquared) *Deploying now* VC firm · India **1** **$7.1M** median round **Nov 2026** last seen
- 21 [Bajaj Ventures](https://millionrounds.com/fund/bajaj-ventures) *Deploying now* VC firm · India **1** **$4M** median round **Jan 2026** last seen

## The Newest Cheques

Rounds this list's investors joined most recently

- **4** Nov **[Blitz](https://millionrounds.com/company/blitz)** Pre-seed · $3M *Led by* [IvyCap Ventures](https://millionrounds.com/fund/ivycap-ventures)
- **3** Nov **[Armatrix](https://millionrounds.com/company/armatrix)** Seed · $7.1M *With* [Boundless Ventures](https://millionrounds.com/fund/boundless-ventures)
- **2** Nov **[Hyeglo Beauty](https://millionrounds.com/company/hyeglo-beauty)** Seed · $738K *With* [Giga Capital](https://millionrounds.com/fund/giga-capital)
- **29** Oct **[Venttup](https://millionrounds.com/company/venttup)** Pre-seed · $3M *Led by* [Unicorn India Ventures](https://millionrounds.com/fund/unicorn-india-ventures)
- **27** Oct **[Rotors](https://millionrounds.com/company/rotors)** Series A · $7.4M *With* [9Unicorns](https://millionrounds.com/fund/9unicorns)
- **27** Oct **[Live2.ai](https://millionrounds.com/company/live2-ai)** Pre-seed · $14M *Led by* [IvyCap Ventures](https://millionrounds.com/fund/ivycap-ventures)

## Stages This Year

59 rounds

- Seed **29%**
- Series A **24%**
- Venture **8%**
- Pre-seed **8%**
- Series B **8%**
- Other **22%**

## What They Backed

Sectors, last 12 months

- AI **21**
- Healthcare **8**
- Fintech **7**
- Manufacturing **5**
- E-commerce **5**
- Hardware & Electronics **3**

## Cheques by Quarter

Led Joined

19 Q1 25

18 Q2 25

17 Q3 25

16 Q4 25

20 Q1 26

6 Q2 26

14 Q3 26

23 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [AI investors based in San Francisco 353](https://millionrounds.com/lists/ai-investors-based-in-san-francisco)
- [AI investors based in New York 345](https://millionrounds.com/lists/ai-investors-based-in-new-york)
- [Seed investors based in San Francisco 273](https://millionrounds.com/lists/seed-investors-based-in-san-francisco)
- [Series A investors based in San Francisco 266](https://millionrounds.com/lists/series-a-investors-based-in-san-francisco)
- [Series A investors based in New York 255](https://millionrounds.com/lists/series-a-investors-based-in-new-york)
- [Seed investors based in New York 227](https://millionrounds.com/lists/seed-investors-based-in-new-york)
- [AI investors based in London 223](https://millionrounds.com/lists/ai-investors-based-in-london)
- [Series B investors based in New York 198](https://millionrounds.com/lists/series-b-investors-based-in-new-york)
- [Fintech investors based in New York 197](https://millionrounds.com/lists/fintech-investors-based-in-new-york)

[All investor lists *→*](https://millionrounds.com/lists)

## Quick answers about seed investors based in Mumbai

### Who are the most active seed investors based in Mumbai?

By cheques observed, the most active are Matrix Partners India, 9Unicorns, Alteria Capital, ah! Ventures and IvyCap Ventures.

### How many seed investors based in Mumbai are there?

21 are on record. 90% made an investment in the last 12 months and 48% have led a round.

### Which stages do seed investors based in Mumbai back?

Of the rounds with a named stage in the last 12 months, mostly Seed (33%) and Series A (27%).

### How big are the rounds seed investors based in Mumbai join?

The typical (median) round among the leading investors here is $6.3M.

### Which sectors do seed investors based in Mumbai back most?

In the last 12 months, mostly AI, Healthcare and Fintech.

### Which seed investors based in Mumbai lead the most rounds?

IvyCap Ventures (8 led), Matrix Partners India (7 led) and Equanimity Investments (6 led).

### What have seed investors based in Mumbai invested in recently?

Recent rounds include Blitz (Pre-seed, Nov 2026, with IvyCap Ventures), Armatrix (Seed, Nov 2026, with Boundless Ventures) and Hyeglo Beauty (Seed, Nov 2026, with Giga Capital).

### How is this list of seed investors based in Mumbai ranked?

By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night.

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)