# HR Fund

HR Fund is a Private Equity based in Gurgaon, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Gurgaon, India
- **Region:** Asia
- **Address:** Gurgaon, India
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** thehrfund.com
- **LinkedIn:** https://linkedin.com/company/the-hr-fund

## Regulatory record

- **Reports private funds:** No

## About

HR Fund is a private equity vehicle based in Gurgaon, India, dedicated to investments in human-resource technology and workforce-management solutions. Founded by Managing Partner Anshul Bhargava, the firm operates at the intersection of enterprise software and labor-market innovation, focusing on companies that build tools for recruitment, payroll, compliance, and employee engagement. The firm deploys capital across early-stage and growth-stage businesses within the HR tech ecosystem. Its mandate spans seed rounds through growth equity, targeting software platforms that digitize the employee lifecycle. Geographic focus remains centered on India, with portfolio companies serving both domestic enterprises and global employers managing Indian workforces. The fund's narrow sector concentration means due diligence runs deeper on unit economics around per-employee-per-month pricing models than a generalist tech fund would typically pursue. Team size and total deployment are not publicly disclosed. HR Fund maintains its headquarters in Gurgaon, India's corporate-services corridor, which places it in proximity to a dense cluster of enterprise-software founders and the Indian back-offices of global HR-outsourcing firms. The firm does not publicly report fund closes or disclose limited partners. No adjacent philanthropic vehicles or co-investor clubs have been identified in public records. The structural differentiator is mandate purity. Unlike most Indian venture or growth funds that allocate to HR tech opportunistically within a broader enterprise-software bucket, HR Fund is theme-bound to a single vertical. This creates a sourcing advantage with founders who want a domain-specialist investor, while imposing a hard constraint that the fund's performance is wholly dependent on the HR tech category maturing in India.

## Sectors

- Enterprise Software
- HR Tech
- Workforce Management

## People

- Anshul Bhargava — Managing Partner

## Questions

### What is HR Fund's investment mandate?

HR Fund invests exclusively in human-resource technology companies, covering the full employee lifecycle from recruitment and onboarding to payroll, compliance, and engagement. Its narrow mandate means it passes on enterprise-software deals outside HR tech, even when those opportunities overlap with other portfolio companies' customer bases.

### What stages does HR Fund target?

The firm invests from seed through growth stages, spanning early-stage startups building initial product-market fit to growth-stage companies scaling distribution. This full-spectrum approach within a single vertical allows the team to back founders at formation and follow on through later rounds.

## Related profiles

- [HR&ED-tech](https://altss.com/profile/hr-ed-tech)
- [HRJ Capital](https://altss.com/profile/hrj-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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