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Conviction led investing, in early stage startups.

Appreciate Capital is an early stage fund investing in pre-seed, seed startups with a focus on the Indian ecosystem. Founders and operators, ourselves - our biggest strength is the depth of founder empathy and founder friendliness - its just who we are. 

To founders, we offer not just capital, but insights, networks, and a shoulder when you need it. 

For investors, Appreciate Capital presents a unique opportunity to align financial objectives with purpose, as we embark on a journey to shape the future.

We're World Positive

World Positive embodies a commitment to invest in companies that genuinely create value and contribute to a better world.

This philosophy extends beyond traditional impact investments, embracing a broader principle of avoiding businesses that exploit, harm, or add no real value to society.

We seek to align capital with enterprises that enhance lives, foster positive behaviours, and generate sustainable prosperity for all stakeholders.

Building a world we can truly be proud of.

We're Gender Smart

We recognise a vast, overlooked opportunity in women-led companies and women-centric solutions. For decades, these ventures have received only a fraction of venture capital, despite their immense promise. 

While we're not exclusively a women's fund, we're committed to rebalancing the scales. We actively seek out and champion exceptional businesses across the spectrum, with a keen interest in those led by women or addressing women-centric challenges.

Our investment strategy aims to capitalise on this underserved market. By investing in female leadership and women-focused solutions, we're not just promoting equality – we're seizing a competitive advantage in an evolving business landscape.

 

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Abhishek Agarwal
FOUNDING PARTNER

Abhishek has worn many hats over a career spanning15 years. He started as a strategy consultant with The Monitor Group, he went on and founded Bold Kiln, a solution provider for startups and emerging businesses, and OperatorVC, micro-fund investing in early-stage startups. He has since also led strategy at Ninjacart, and business at SHEROES. 
Through the years, Abhishek has been an active angel investor as well. 
 
By education, Abhishek is an Electrical Engineer from IIT Delhi (2008) did his MBA from IIM Ahmedabad (2010).
He was recognised in 2018, as a “Top 40 Under 40 Alternative Investment Professionals” by AIWMI, and  an “Economic Times Young Leader” by The Economic Times in 2014.

Sairee Chahal
FOUNDING PARTNER

Sairee Chahal is a serial entrepreneur, investor and board member. She conceptualised and founded #WomensInternet in India. She founded Fleximoms, SHEROES and Mahila Money - all internet platforms for women, connecting them to the economic mainstream via employment, entrepreneurship and capital impacting over 10 million women directly and indirectly.  
With her Board roles at Paytm Bank and Unicommerce (active) she's seen companies through scaling journies including IPO.
 
Sairee has been an active angel investor for several years.
Sairee Image 1 from Appreciate Capital

Frequently Asked Questions

Spaces and Sectors

Fundamentally, we are sector and space agnostic.

We're keen on: Deep-tech (software, hardware, bio). Healthcare. Consumer (tech and physical products). SaaS (w/ deep problem statements). Climate. 

We usually don't invest in: Gaming. Ad-revenue led models. Zero-sum models.

Geos & Domiciles

A majority of our investments will be Indian companies - building for India and/or the world.

We will occasionally make an investment outside of the Indian ecosystem (EU, Africa, US) where we build conviction.

We are not constrained by company domicile.

Check Size

Our typical cheque size from Fund I is $100k.

Stage

Earlier the better.
We have invested, and are happy to at pre-product, pre-revenue stages. We're unlikely to invest at pre-Series A or beyond.

Women Only?

We have a keenness towards businesses that are female-led, and/or are solving for women centric problems.

That said, we have invested and do invest in teams and companies that do not meet this criteria.

Founders <love> Us. We <love> Founders.

Sairee & Abhishek have been our strongest supporters from day one. From the very first call, their bias for action, clarity of thought in moving our vision forward and founder friendliness has always shone through. True partners in our journey at Basil, they consistently offer their time and insight to help us navigate challenges and plan for the future. Very privileged and blessed to be part of the Appreciate Capital family.

Harini Rajagopalan LinkedIn
  Harini Rajagopalan           
  Co-Founder               
  Basil               

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  Kanchan Kumar           
  Founder & CEO               
  Truly Financial               

Sairee and the team at Appreciate Capital have been true champions of our success. They're always available to meet, talk, share their knowledge as well as help socialise our brand  in their circles. Sairee personally has been accessible for advise, mentoring and helping us bounce ideas freely. We are grateful for their backing and look forward to build the future with them

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  Diksha Pande           
  Co-Founder               
  Samosa Party               

 

...my first phone call with Abhishek while I was raising a round - Pin Point perfection with the questions a VC should ask, the questions that actually mattered. He just knew a lot about me, what I had typically done/achieved/failed in life etc. I have met several investors but no one who will actually take the time out to research and understand the person they were talking to. ... We would have exchanged half a dozen emails and he would come back with some great questions. These questions were not for him, but for InVideo - Overall, it made me look at the blind spots ... After investing, he has actively helped me with introductions throughout. Please note - I never asked for them because I did not know about his connections. They were all more than just helpful. For eg: he helped me chat with an ex-VP of an Israeli company in the similar space....

Sanket Shah Invideo

Sanket Shah
Founder & CEO - InVideo              

Ever since my first conversation with Sairee, and then with Abhishek about THC, I’ve always felt like I was talking to founders, first—not investors. My learnings from being a participant in the Indian venture ecosystem have highlighted to me the need for more operator-VCs in India, who are qualified to give advice on the basis of authentic, lived entrepreneurial experiences vs. borrowed “textbooks” or mere spreadsheets. Even when founders and investors disagree, in my view, that disagreement should come from a place of data-driven perspective. I’m grateful to have Appreciate on our cap table as respectful, honest supporters of our (and I am sure, many a) long-term mission.

Vignesh Ramanujam LinkedIn

Vignesh Ramanujam
Founder & CEO - The Happy Company