Updated:
Girnar Vision Fund
Amit and Anurag Jain's Girnar Vision Fund recycles CarDekho operating profits into early-stage Indian mobility and software startups.
Girnar Vision Fund
Girnar Vision Fund operates as the strategic investment arm of Girnar Software, the Jaipur-based parent of CarDekho, Gaadiwaadi, and Zigwheels. Founded by brothers Amit and Anurag Jain, the group grew from an auto-research portal into a full-stack digital ecosystem spanning vehicle retail, insurance, and financing. The fund emerged from that operating base, deploying balance-sheet capital rather than third-party limited partner commitments. The fund targets pre-seed to Series A rounds across India and Southeast Asia, with confirmed activity in auto-tech marketplaces, SaaS tools for dealerships, and AI-driven credit scoring for vehicle loans. Known portfolio companies include BikeDekho, a motorcycle marketplace, and Revv, the car-sharing platform in which Girnar participated alongside Hyundai Motor Group. The firm also backs fleet-management software and EV infrastructure startups, aligning with India's electrification push. Team size and fund deployment figures are not publicly disclosed; the firm reports 15 to 25 professionals split between Jaipur and Gurugram. In May 2024, CarDekho Group raised a reported $40 million in a pre-IPO round, a transaction that indirectly recapitalized the vision fund's balance sheet capacity. The Jains also maintain the Girnar Foundation, a philanthropic entity focused on education and healthcare in Rajasthan, structurally separate from investment operations. What distinguishes Girnar Vision Fund is its operator-anchored structure: returns are reinvested from CarDekho's core business lines, creating a compounding capital base that avoids the fundraising cycle constraints of traditional venture firms. The Jains use CarDekho's dealership network as a proprietary scouting mechanism, identifying founders building solutions they encounter as customers before external investors gain access.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Jaipur
Corporate office
Jaipur, India
Principals
Amit Jain
Co-founder, CEO
Anurag Jain
Co-founder, COO
Sector focus
Frequently asked questions
How is Girnar Vision Fund capitalized?
The fund is a balance-sheet vehicle financed primarily by operating profits from Girnar Software, the parent company of CarDekho and other auto-tech platforms. It has not publicly raised third-party LP commitments. This structure allows indefinite holding periods and flexible check sizes without external redemption pressure.
Who makes investment decisions at Girnar Vision Fund?
Amit Jain, co-founder and CEO of CarDekho Group, oversees investment decisions. Anurag Jain, co-founder and COO, participates in deal evaluation. The fund operates without a formal external investment committee, relying on the brothers' direct operating experience in auto-tech and digital marketplaces.
What is the relationship between Girnar Vision Fund and CarDekho?
Girnar Vision Fund is the investment arm of Girnar Software, which owns CarDekho. The fund deploys capital generated by CarDekho's marketplace, insurance, and financing businesses into external startups. CarDekho's dealership and OEM relationships serve as a proprietary deal-sourcing pipeline.
Does Girnar Vision Fund invest outside India?
The fund primarily targets India-based startups but has extended capital to Southeast Asian auto-tech platforms. Its parent group's presence through acquisitions like Zigwheels provides regional market intelligence that informs cross-border allocations.
What sectors does Girnar Vision Fund avoid?
The fund has no publicly stated exclusion list, but its investment pattern concentrates on auto-tech, enterprise SaaS, and fintech tied to vehicle commerce. It has not deployed into biotech, deep-tech hardware, or consumer-packaged goods.
How does Girnar Vision Fund source deals?
Deal flow originates through CarDekho's commercial relationships with 30,000-plus dealer partners and OEMs, who surface startups solving operational friction. The Jains also access secondary deal flow through their angel network and co-investor relationships formed during CarDekho's own venture-backed fundraising.
Does Girnar maintain philanthropic structures separate from the fund?
Yes. The Girnar Foundation, also backed by the Jain brothers, focuses on education and healthcare in Rajasthan. It operates as a distinct legal entity with its own governance, though both the fund and foundation ultimately trace back to the same wealth-generation source.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on private equity firms?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: