Capvent

Capvent was founded and remains led by Varun Sood, who serves as Managing Partner and makes final investment decisions. Sood started the firm in 1997 and has overseen its strategy across multiple fund cycles, from primary fund commitments to direct co-investments in developed and emerging markets. His seniority and continuity as founder-CIO shape a centralized investment process.

Capvent sources through a combination of long-standing general partner relationships in the US and Europe, plus proprietary access developed in Asian markets over two decades. The firm's Zurich location and institutional client base give it a distinct origination angle from competitors in New York or London. Historically, the firm's manager selection has emphasized mid-market and emerging managers alongside established relationships.

Capvent operates primarily as a fund-of-funds manager, making commitments to external private equity firms. However, the firm also maintains a direct co-investment program that invests alongside its chosen general partners. The balance tilts toward primary fund commitments, but the co-investment book is a meaningful component of the overall investment strategy.

Capvent targets buyout, growth equity, and venture capital across multiple fund sizes and geographies. The firm has historically invested in mid-market buyout funds, early-stage and growth-stage venture capital funds, and special situations vehicles. Stage focus varies by vintage and by geographic region, with a notable historical emphasis on venture capital in India and growth equity across Asia.

The firm's core geographic exposures are North America, Western Europe, and Asia — with particular historical depth in India, where Capvent was among the early institutional fund-of-funds allocators. European pension fund clients have historically driven allocations to US buyout and venture funds, while the firm's emerging market activity focused on India and broader Asia-Pacific private equity.

Capvent is an independent, founder-owned firm based in Zurich rather than a subsidiary of a large financial institution or a US-headquartered platform. Its size and structure allow manager selection niche strategies, particularly in emerging markets and mid-market buyout, that larger fund-of-funds complexes often bypass. The firm's European regulatory and client base also differentiates its mandate from purely US-centric peers.

Yes, in addition to its commingled fund-of-funds vehicles, Capvent has historically managed separate account mandates for European institutional investors. These mandates often tailor manager access, co-investment allocation, and geographic exposure to the specific requirements of pension funds, insurers, or sovereign entities.