# Lok Capital

Lok Capital is a Private Equity based in Gurgaon, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Gurgaon, India
- **Region:** Asia
- **Address:** Gurgaon, India
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** www.lokcapital.com
- **LinkedIn:** https://www.linkedin.com/company/lokcapital

## Regulatory record

- **Reports private funds:** No

## About

Lok Capital is a pioneering India-focused investment firm established in 2004. It has generated above market returns via investments into innovative tech-enabled enterprises addressing social and environmental challenges at scale. It has a proven track record across funds of three vintages (2006, 2011, 2016) and is currently investing from its fourth fund into financial inclusion, fin-tech, food & agri-tech and climate & sustainability solutions.

## Sectors

- Financial Inclusion
- FinTech
- Healthcare Services
- AgriTech & FoodTech
- Enterprise Software

## People

- Vishal Mehta — Co-Founder & Managing Partner
- Venky Natarajan — Co-Founder & Managing Partner

## Questions

### How does Lok Capital define 'impact' in its investment strategy?

Lok Capital targets companies that deliver essential services — credit, healthcare, agricultural tools — to low-income and underserved populations across India. The firm measures impact through metrics like households reached, jobs created, and improvement in income levels. A dedicated impact measurement framework runs alongside financial due diligence for every investment.

### What is Lok Capital's investment stage and typical check size?

The firm invests from early-stage to growth equity, with check sizes generally in the $2 million to $15 million range. It often leads or co-leads rounds in financial inclusion, healthcare services, and agricultural supply chain businesses.

### Is Lok Capital still active, and what was its most recent fund?

Yes. Lok Capital closed its fourth fund in 2022, targeting $150 million. Initial funds focused heavily on microfinance institutions, while Fund III and Fund IV broadened the mandate to healthcare and agri-tech platforms.

### What types of companies has Lok Capital backed?

Notable investments include Ujjivan Financial Services, a microfinance institution that listed on Indian exchanges, and Spandana Sphoorty Financial. The portfolio also spans rural healthcare delivery chains and digital platforms connecting smallholder farmers to markets.

### How is Lok Capital funded, and who are its limited partners?

Lok Capital raises capital from development finance institutions, foundations, and institutional investors. Known limited partners across its fund vehicles include CDC Group (now British International Investment) and IFC.

## Related profiles

- [LOI Venture](https://altss.com/profile/loi-venture)
- [Loma Capital](https://altss.com/profile/loma-capital)

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Last updated: 2026-08-11T15:07:19.634Z

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