9 Oct 2026 · TrustList Editorial
India's GST Council proposes automatic refunds and an end to tax arrests
No rate changes at the 57th meeting. Engineering and R&D exporters get a fix for services done on customers' goods, and small…
6 of 26 venture capital firms ranked on evidence in the Q4 2026 edition.
Between them, the 26 venture capital firms on this page cover partners (6), internet (5), private equity (4) and SaaS (4). They also list work in Bangalore, Mumbai, Delhi NCR and Silicon Valley. 26 of them have written a profile you can read before you get in touch.
TrustList ranking
Q4 2026 edition
6 of 26 venture capital firms ranked on evidence held on 9 October 2026: client reviews, vetting, awards and facts each business states on its own website, which we read and date. Nobody pays to be placed.
Positions are fixed for the quarter; the next edition is due in January 2027.
Private Equity · Real Estate · Partners
ICICI Venture is an alternative asset management company in India and a wholly owned subsidiary of ICICI Bank Limited.
Why #1: Founded 1988, as stated on its own website, read 5 Oct 2026
Not yet on record: client reviews, vetting.
Internet · Hybrid · Government
Not-for-profit technology business incubator at Vellore Institute of Technology supporting start-ups with mentoring and infrastructure
Why #2: Founded 2003, as stated on its own website, read 29 Sept 2026
Not yet on record: client reviews, vetting.

Internet · Also in New York and York
Horizen Ventures started in April 2004 as an early-stage investment company focused on technology and internet businesses in India.
Why #3: Founded 2004, as stated on its own website, read 5 Oct 2026
Not yet on record: client reviews, vetting.

Early Stage · Also in Richmond and Karnataka
LetsVenture is an online investment platform for early-stage startups, founded in 2013 and centred on India.
Why #4: Founded 2013, as stated on its own website, read 5 Oct 2026
Not yet on record: client reviews, vetting.

Series A · Seed Stage · Also in Shanghai and India, China
InnoVen Capital is a venture lending platform that provides debt to fast-growing, venture-backed technology companies in Asia.
Why #5: Founded 2015, as stated on its own website, read 5 Oct 2026
Not yet on record: client reviews, vetting.

Pre Seed · Seed Stage · SaaS · Also in India, India and Milan
Leo Capital is a cross-continental early-stage venture fund with its base in Singapore and Helsinki.
Why #6: Founded 2018, as stated on its own website, read 5 Oct 2026
Not yet on record: client reviews, vetting.

Series A · Pre Seed · Venture Capital · Also in Undisclosed
100X Ventures, trading as 100X.VC, is an early-stage venture fund based in India.

Early Stage · Also in Asia
3one4 Capital is a venture capital firm that invests in early-stage companies in India.

Also in Reading and San Francisco
Accel, listed here as Accel Partners, is a venture capital firm that describes itself as the first partner to strong teams everywhere.

Government · Cloud · Also in Delhi and Delhi NCR
Alkemi Growth Capital is a venture fund for healthcare and wellness businesses in India.

Deep Tech · Series · Mobility · Also in Worli and Mumbai
Avaana Capital is a venture capital firm that backs founders building technology for climate and sustainability.

BanyanTree Growth Capital (BTGC) and its second fund, BanyanTree Growth Capital - II, are structured private equity funds that provide capital to middle-market companies in India.
Private Equity · Partners
Baring Private Equity Partners India Limited is the Indian arm of Baring Private Equity Partners International.

Partners · Also in London and Mumbai
Bay Capital is an independent investment manager that puts client money into Indian listed companies. The firm runs one strategy only and has done so since it was established.

Real Estate · Internet · Learning · Also in Maharashtra and San Francisco
Brand Capital is the strategic investment arm of The Times Group in India.

Also in United States, India and Silicon Valley
ComVentures is a venture capital firm whose funds are managed by Fuse Capital, based in Menlo Park, California. The team concentrates on digital media and communications.
Elephant Capital is a private equity business that invests in growth companies in India. Its aim is to generate returns for its shareholders.

Also in Seattle and Bangalore
Elevar Equity is an impact investment firm. It looks for entrepreneurs with the ambition to build profitable, fast-growing businesses that also improve economic resilience in…

Pre Seed · Internet · SaaS · Also in San Francisco and London
Entrepreneur First, also known as EF, is a company builder and early investor.

Partners · Banking · Learning · Also in Delhi NCR and Mumbai
Gaja Capital is an investment firm with its office in Mumbai. It partners with ambitious entrepreneurs to build durable businesses that serve India's domestic economy, and it…

Venture Capital · Also in Silicon Valley
Paradigm Shift Capital calls itself India's first truly global venture capital fund.

Government · Also in Ontario and Karnataka
SeedFund is a seed-stage venture investor that funds young technology companies in India.

Private Equity · Partners · Internet · Also in Moscow and Asia
Sistema Asia Fund is a private equity fund managed by Sistema Asia Capital, a fund management company registered with the Monetary Authority of Singapore.

Series A · Seed Stage · SaaS · Also in Silicon Valley and Bangalore
Together Fund is a venture fund run by people who have built companies themselves.
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Once a startup is funded, it has to hire. TrustList ranks the offshore firms that add developers and dedicated teams to a startup's own, by country and city.
Every other way we rank venture capital firms, by what they do and where they are.
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9 Oct 2026 · TrustList Editorial
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