Partnering to create
sustainable & scalable businesses
since 2007
We back consumption driven businesses in Financial Services, Food and Lifestyle and empower the company with capability and capital, for it to reach its full potential. Our sector focus combined with established network of advisors enable us to maximise the value we provide to our Entrepreneurs
Portfolio
We are driven to help ambitious entrepreneurs forge their growth stories.

Shamsher Puri
Director
With more than 801 business-to-business customers nationwide, DTSS is one of India's largest Facility Management services provider across industry verticals. Equipped with a 31,083 strong workforce, DTSS can deploy manpower across locations.

Sunu Mathew
Founder & Managing Director
Established in 2013, LEAP India is a market leader in the pooled asset management space, providing value added products/solutions to help companies reduce logistics costs.

Arun K. Chittilappilly
Managing Director
Wonderla Holidays Limited is one of India's most prominent amusement park companies. It operates two of the largest amusement parks in Bengaluru and Kochi under the brand name Wonderla, which started operations in 2000 and 2005 respectively.

R. Baskar Babu
Co-Founder And CEO
Established in 2008, Suryoday is an Urban/Semi-urban focused Small Finance Bank with an AUM of ~ ₹ 2,000 Cr.

G.S.K. Velu
Co-Founder And CEO
Medfort Hospitals Private Limited owns and operates eye hospitals for patients in India and internationally. The company was incorporated in 1996 and is based in Chennai.

Mr. D. Lakshmipathy
Chairman and Managing Director
Five Star Business Finance is a Chennai based NBFC providing Collateralized Small Business Loans to customers present predominantly in tier-III cities and below.

Falguni Nayar
Founder & CEO
Incorporated in 2012 and headquartered in Mumbai, FSN E-Commerce operates an online platform for beauty and wellness products under the brand name Nykaa

Kamesh Goyal
Chairman
Go Digit General Insurance, established in 2016, is a new-age general insurance headquartered in Bengaluru, backed by Fairfax group. Digit’s approach is focused on customer-centricity, prudent underwriting and technology for operational excellence. Digit won General Insurance Company of the Year award in 2019.

Madhukar Gangadi
Director & CEO
TVS Shriram Growth Fund has invested in Medplus Health Services Private Limited. Medplus, started in 2007 has grown to become India's second largest pharmacy retail chain with focus in Andhra Pradesh, Tamil Nadu and Karnataka and recent entry into West Bengal.
News & Media
June 20, 2022
INFLATION and GROWTH – Global and Indian Perspective
The US Federal Reserve has taken a determined stance against inflation raising its key benchmark rates an aggressive 75 basis points at the latest FOMC meeting in one of the highest rate hikes since 1994. The US Fed’s rate spike comes after a 50-basis point hike in the Fed rate the last time with cumulative rate hikes now showing at 125 basis points increase.
June 20, 2022
Fractionalization of Assets - ‘Democratising access to Alternate Investments’
Asia and the emerging economies, especially India, are poised for the next big growth in alternative investment products and are primed for the next wave of alternative growth. As of May 2022, over 900 AIFs had been registered with the Securities and Exchange Board of India (SEBI), with capital commitments increasing at 63 per cent CAGR between 2012 and 2022. Global alternative investments AUM increased from $4.1 trillion in 2010 to $10.7 trillion in 2020 and is anticipated to reach $17.2 trillion by 2025.
May 19, 2022
Digital Banking Units – a perspective
RBI has recently released guidelines for Digital Banking Units [DBU] in pursuance of budget announcement to open 75 DBUs this year. Hon’ble PM would be launching commencement of operations of DBUs on August 14, 2022.
May 19, 2022
RBI and economic challenges
With a global stagflation-like condition, the economic ground work for a revival next year is underway.
April 18, 2022
Fallouts of Inflation
Global inflation is surging, roiling the Indian economy. Markets fear that steep rate hikes could be the only way out. The Ukraine-Russia conflict is fuelling higher prices of food and commodities. We have no visibility as to how long the sanctions could remain in place or what course the political situation in Ukraine will take.
April 18, 2022
Insurance Broking Business– An investment perspective
The overall size of insurance industry as measured in terms of Total Premium was ₹ 8,27,500 Crores (US$ 110 billion) in FY 2021 as per data collated from IRDA. This industry is expected to grow at a 17.8% CAGR to reach ₹ 39,00,000 Crores (US$ 520 billion) by FY2030, with life, health and other non-life insurance growing at 18.8%, 15.3% and 13.5% CAGR respectively, as per Frost & Sullivan report.
March 17, 2022
Direct To Consumer (‘DTC’) Brands
It is said to have started during eCommerce 2.0 in the mid-2000’s in the US when platforms such as Shopify, BigCommerce and Magento made it possible for vertical brands to make and sell their own products directly to consumers.
March 16, 2022
The Economic Impact of the Russia-Ukraine Conflict
The Russia-Ukraine crisis poses a challenge, but the equity asset market is resilient
February 14, 2022
Budget 2022-23: From eyes of TCF Team
India is well over the mid-point in the journey to becoming a $5trillion economy crossing the $3 trillion mark in GDP. The recovery in growth in the face of the global covid-19 pandemic shows the resilience of the Indian economy. But it was still imperative for the government to consolidate the foundations with a major thrust on structural growth.
February 14, 2022
Open Banking
Never in the history of Indian Banking that so much is happening, in so short a time – be it payments, lending, collections – large scale disruptions and disaggregation of different segment of banking services – by various start-ups.
January 18, 2022
Investment Theme of the Month: Digital Banking
NITI AAYOG recently released a proposal titled - 'Digital Banks in India: Licensing & Regulatory Regime'. The report covers a wide range of questions regarding the various models utilised in banking and a potential framework to implement Digital Banking in India.
January 18, 2022
The Paradox of Rising Inflation
Global equity and bond markets are faced with a paradox. As supply-chain disruptions, rising demand, and accommodative central banks create havoc with this one major macro-economic indicator, inflation, the immediate concern for policy-makers is: when is the most appropriate time to begin to raise interest rates.
December 20, 2021
Investment Theme – Litigation Financing
With capital moving in search of higher yields, we have witnessed significant interest in alternative forms of investment over the past few years. This has resulted in private funds pursuing opportunities in non-traditional areas of value creation. One such area is that of Litigation financing – a “third party funding’ practice of providing financial resources to a litigant over the course of a commercial litigation or arbitration proceeding. For the purpose of this blog, we aim to discuss the definition of litigation financing, its requirement, and the market available for the same.
December 20, 2021
The Indian IPO Boom
The primary market is blooming. Founders, entrepreneurs, and businessmen are showing an immense zeal in getting their companies listed and publicly traded. More money is pouring into equity IPOs with this year seeing record subscriptions in several IPOs. Entrepreneurs on their side are not shying away from the public scrutiny that comes with the listing, but many are even confident that their companies will do better post the initial offers.
December 20, 2021
TVS Capital’s Founders Day celebration - honouring the spirit of entrepreneurship
With several prominent founders and CEOs stepping out of their work and family lives to take part and share their entrepreneurial highs and lows with distinguished and elite guests and entrepreneurs, TVS Capital’s Founders’ Day celebrations witnessed a rousing start.
November 17, 2021
Investment Theme - Revenue Based Financing
At a time when the creation of unicorns and successful technology IPOs are becoming increasingly commonplace, we are beginning to see a revolution in another investment structure which equally deserves investor attention. This is ‘Revenue Based Financing’, an investment mechanism which allows for traditional growth start-ups to raise debt funding rather than rely on equity infusion from private capital.
November 17, 2021
Nykaa's IPO - Overview
Not for the first time in 2021 and certainly not for the last, we witnessed the public market debut of a technology company provide stellar returns to investors. 2021 has been a year like no other for Indian equity markets, but what is noteworthy is that it has resulted in a convergence of private market and public market valuations. To go one step further, it seems that now private market valuations are having a direct impact on public market multiples.
October 30, 2021
Building future Business: India@100
“When we wanted capital, we did not get money” – Deepinder Goyal – Founder and CEO of Zomato $13 billion enterprise – poster boy of India@60 –Zomato was founded in 2008
“We focused on survival, for days, for weeks and some months – success tasted after years” – that was Sanjiv Bikhchandani, founder of Info Edge – early investor in Unicorns including Zomato and Policy Bazaar – product of liberalised India –-took to entrepreneurship in 1990.
October 18, 2021
Investment Theme: Buy Now Pay Later
Buy Now Pay Later (BNPL) companies are the newest disruptors in the payments ecosystem, promising to become as ubiquitous as credit cards and digital wallets. Driven by growing e-commerce, increasing consumer demand, and need for convenient solutions, BNPL provides an alternate avenue for lenders to access new borrowers.
October 18, 2021
Evergrande weighs on Chinese debt markets, but global contagion limited
Ever since Evergrande, China’s second largest property developer, announced that it missed its bond payments, the Chinese debt markets have been in a turmoil. Bond prices have slumped and its effect in the $5 trillion real estate sector is causing investors billions of dollars in losses. In this months blog, we take a deeper look at the Evergrande debt crisis and its potential ramifications.
September 17, 2021
Regulatory Technology
With the acceleration in digitisation becoming a staple part of all investment themes, we are beginning to witness increased burden on the risk and compliance functions – especially in the financial services industry. Moreover, these companies are not only expected to swiftly adapt to these pressures, but also do it in a cost-effective and secure manner. Given these factors, we now see RegTech (Regulatory Technology) companies gaining prominence in the eyes of investors as they are viewed as essential to the core operations of banks and other regulated entities.
September 17, 2021
GDP Update
The recovery in the Indian economy continues well with real GDP growing at 20.1% y-o-y in the first quarter despite the pandemic-related restrictions. This high growth rate was, no doubt, due to low base in the year ago quarter, when the economy shrunk by more than 24% due to stringent closures in the year ago quarter. To provide further perspective, the real GDP number stands at ₹32.4 trillion compared to ₹35.6 trillion during the pre-covid times in Q1FY20.
August 16, 2021
Investment Theme: Retail Participation in Debt Markets
For most countries across the world, direct access to the bond market was the preserve of banks, financial institutions, and corporates with large treasury operations. However, through recent government efforts along with the steps taken by start-ups, we see increased prevalence in the participation of retail investors in debt. Will this finally unlock the substantial potential locked away in Indian debt markets?
August 16, 2021
Three Decades of Economic Reforms
The past three decades have not been without its ups and downs, but it belongs squarely to India. Indeed, India’s economic revival owes its roots to the reforms of 1991. After struggling with a dire balance of payments situation, the Indian government ushered in urgent and bold reforms. Ever since, there has been no looking back.
August 16, 2021
5 myths busted; new age tech cos to account for 20% of m-cap by 2025: Gopal Srinivasan
I have seen five myths about new age tech companies being busted in the last five weeks. I am looking forward to the next five years and expect 20% of the market to belong to tech companies in India by 2025. Other than that, SaaS companies will be the next big thing and account for another trillion dollar ma-cap in future.
July 14, 2021
Investment Theme: Retail Assortment Management
As retailers now have only one opportunity to satisfy their customers, 'Retail Assortment Management Applications' could hold the key to meeting demand and securing customer loyalty. In this month's investment theme, we go into the implementation and expected outcomes when utilising RAMAs.
July 14, 2021
Fed Policy to potentially disrupt valuation curve in the PE market
We take a deeper look into the Federal Reserves recent policy meeting and the potential impact of monetary policy on Private Equity investments across the world. With broader recovery expected to take place, how will valuations move?
June 15, 2021
Investment Theme of the Month: Agri
With India ranking 103 out of 119 in the Global Hunger Index in 2018 and at the same time wasting 40% of all harvested agricultural produce – it is surprising that only in the last few years have investors opened their eyes to the value potential in Agriculture.
April 01, 2021
Addressing the needs of the 'Missing Middle' - TSGF3 invests ₹100 Cr in Five Star Business Finance Ltd
We are pleased to announce the completion of our 5th investment from TVS Shriram Growth Fund- 3 (TSGF3) in Five Star Business Finance Limited. Our INR 100cr investment for ~0.97% stake in the NBFC highlights our continued objective of financing SME lenders who are solving for the problem of “access”.
This investment marks another testament to our investment philosophy of backing the best NextGen entrepreneurs across businesses. We deeply subscribe to Mr. Lakshmipathy’s vision of building Five Star Finance into a pan India NBFC which will be among the top decile of players in this category.
March 31, 2021
Mr. Lakshmi Narayanan, on his life story and interests in making India better via entrepreneurship & innovation.
Our Director, Mr. Lakshmi Narayanan, on his life story and interests in making India better via entrepreneurship & innovation.
His vision, humility and concern for humanity’s scientific progress, his ideas on how leaders (श्रेष्ठas) transform the world are inspiring and elevating.
March 19, 2021
Undaunted by Covid disruption - Baskar Babu leads SSFB to IPO
It is always joyous to partner with best-in-class entrepreneurs and on this day, we wish to discuss one of our more successful business partners – Suryoday Small Finance Bank. The Listing of a portfolio entity is the ultimate aim for any Fund Manager and provides us with a sense of accomplishment which is even more invigorating than the returns from the investment.
October 21, 2020
PE, VCs’ 3-point agenda to FM: tax parity for unlisted shares, push pension funds into startup funding, strengthen GIFT CITY
PE, VCs’ 3-point agenda to FM. tax parity for unlisted shares, push pension funds into startup funding, strengthen GIFT CITY. There is no level-playing field between listed and unlisted shares for domestic investors, said Gopal Srinivasan, chairman of TVS Capital Fund.
October 20, 2020
Smt. Nirmala Sitharaman, Hon’ble Finance Minister, holds a meeting (via VC) with Shri Gopal Srinivasan, Chairman- TVS Capital Funds
Smt. Nirmala Sitharaman, Hon’ble Finance Minister, holds a meeting (via VC) with Shri Gopal Srinivasan, Chairman- TVS Capital Funds and Smt Renuka Ramnath, Chairperson- Indian Private Equity & Venture Capital Association, to hear their suggestions regarding the private equity & venture capital industry in India.
October 14, 2020
Story of India’s Largest Rupee Capital Fund
Prime Minister Narendra Modi loves entrepreneurship and believes that India’s freedom fighters of this age are the entrepreneurs, says TVS Capital Funds Chairman and Managing Director (MD) Gopal Srinivasan.
October 13, 2020
Gopal Srinivasan, MD, TVS Capital Funds, in conversation with Shradha Sharma, on his journey of building TVS Capital Funds
Gopal reminisces, “When we started that fund it was more with the idea that look, we need to promote entrepreneurship. Therefore our slogan became - empowering the next generation entrepreneurs.”
September 16, 2020
How has current uncertainty impacted where they choose to put their money? And what does it say about their confidence in a quick economic revival?
Gopal Srinivasan, a highly regarded guru in the family businesses arena and the Chairman and Managing Director of TVS Capital Funds, says for the super-rich the current slump in an economy would at best be like an air pocket in their journey to protect and grow their wealth.
September 14, 2020
Gopal Srinivasan, CMD, TVS Capital Funds, in conversation with Neelkanth Mishra, India Strategist for Credit Suisse
Gopal Srinivasan, CMD, TVS Capital Funds, in conversation with Neelkanth Mishra, India Strategist for Credit Suisse.
July 28, 2020
There are great cos in MSME & consumer lending spaces: TVS Capital Funds
There are great cos in MSME & consumer lending spaces: TVS Capital Funds.
May 12, 2020
Private equity will be a net-gainer in the pandemic
While intrinsic value of business are strong, valuations are expected to lower. In times like these, be it a strategic M&A opportunity requiring private capital or a creative debt / mezzanine solution or distressed opportunities, private equity will be the preferred source of capital.
May 09, 2020
Friends and Philanthropists come together to feed Chennai
Feed my Chennai operation is the largest in the city, and is spearheaded by R. Ramaraj, co-founder of Sify and the Chennai Angels; Gopal Srinivasan, chairman, TVS Capital Funds and eight other core members.
May 02, 2020
TVS Capital Funds’ Investment Committee member, R Dinesh, on recovery from COVID
‘6 to 9 months, even longer for consumption to get back to normal,’ says Dinesh.
April 08, 2020
Gopal Srinivasan On How The Pandemic Changes Things For The Economy
"Gratuitous startups which burn money for no real reason or solve real problems — they will be the first ones to perish," — Gopal Srinivasan, the founder, chairman and managing director of TVS Capital Funds.
February 27, 2020
Gopal Srinivasan appointed honorary consul of Netherlands
Netherlands Ambassador said that Srinivasan has strong network and connections in government, business and academia which plays an instrumental role in bringing both regions together.
January 10, 2020
TVS Capital Funds’ Investment in Go Digit General Insurance Limited
TVS Capital Funds Limited, Faering Capital and A91 Emerging Fund invested in Go Digit General Insurance Limited by way of primary subscription of equity shares.
November 01, 2019
TVS Capital Funds 12th Foundation Day Celebration at the ITC Grand Chola in Chennai.
TVS Capital Funds celebrated its 12th Foundation Day at the ITC Grand Chola in Chennai on November 1, 2019. The theme of the Foundation Day was “Institutionalization”.
August 09, 2019
How will VGSiddhartha's death impact the PE landscape?
Discussions on nuances of interplay ‘twixt entrepreneurs & fund managers, true nature of risk capital, its role in Shri Narendra Modi's $5 Trillion GDP goal.
August 06, 2019
The importance of finding funding
Gopal Srinivasan, Chairman and MD of TVS Capital Funds explains why Investors should not be punished based on one-off events.
July 22, 2019
Taking a LEAP in supply chain management
Our Business Partner, LEAP India, provides solutions for pallet and container pooling. The company has 22 warehouses and 1.5 lakh pallets in all. It has also supplied four lakh totes to its customers, which include major online marketplaces. It has more than 3,000 touch points across the country.
July 09, 2019
TVS Capital Marks 2nd Close Of Third Fund With INR 1,100 Cr In Commitments
TVS Capital has announced the first close of third fund in Oct 2018.PE firm’s third fund portfolio includes LEAP India and Suryoday.
July 09, 2019
TVS Capital hits second close of new fund, to strengthen top management
Homegrown private equity firm TVS Capital Funds Pvt. Ltd has made the second close of its third fund even as it looks to strengthen top management.
July 09, 2019
TVS Shriram Growth Fund 3 announces second close at ₹1,100 crore commitments
TVS Capital Funds announced the second close of its third venture capital fund - TVS Shriram Growth Fund 3 – after having the target corpus of ₹1000 crore fully subscribed to. The fund has received commitments of ₹1,100 crore. It has a structure that allows for a ₹500 crore green-shoe option of which ₹100 crore has already been subscribed to and ₹150 crore remains in pipeline.
July 05, 2019
Mr. Gopal Srinivasan, shares his views and expectations on Budget 2019 with CNBCTV18
TVS Capital Funds’ CMD, Gopal Srinivasan, shares his views and expectations on Budget 2019 with CNBCTV18.
June 14, 2019
TSGF 3 invests in LEAP India Pvt. Ltd
LEAP India Pvt. Ltd. Has raised ₹100 crore in fresh funding from homegrown private equity firm TVS Capital.
April 01, 2019
Alok Samtaney joins TVS Capital Funds as Investment Director
TVS Capital Funds is pleased to announce the appointment of Alok Samtaney as an Investment Director, effective 1st April, 2019