# Marwar Capital

Marwar Capital is a Single Family Office based in Bengaluru, India.

## Overview

- **Organization type:** Single Family Office
- **Headquarters:** Bengaluru, India
- **Region:** Asia
- **Address:** Bengaluru, India
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** marwarcap.com
- **LinkedIn:** https://in.linkedin.com/company/marwarcapital

## Regulatory record

- **Reports private funds:** No

## About

Marwar Capital traces its roots to the Bengani Group, a family business conglomerate with more than a century of operating history. Ankit Bengani serves as principal and director, guiding the allocation of family capital. The firm was established to manage principal investments while also advising select external managers. The office allocates across private equity, private credit, real estate, hedge funds, infrastructure, natural resources and secondaries. It executes through direct co-investments, SPVs and fund commitments. Early-stage and growth equity positions form a core part of the book. Activity spans Asia and North America. The firm maintains memberships in the Indian Angel Network and LetsVenture. No public data exists on team size or AUM. The firm lists no additional offices beyond its Bengaluru headquarters. Philanthropic activity occurs through the VeCare Foundation. Marwar Capital functions as both capital allocator and advisor to outside institutions. This dual mandate creates a hybrid structure uncommon among pure single-family offices.

## Sectors

- Industrial Tech
- EdTech
- Mobility & Transportation
- Media & Entertainment

## People

- Ankit Bengani — Principal and Director
- Bimal Kumar Bengani — Director
- Siddharth Bengani — Family Member
- Kashish Shah — Partner

## Questions

### Who runs investment decisions at Marwar Capital?

Ankit Bengani serves as principal and director and leads global investment efforts. Kashish Shah acts as partner with responsibility for investments across asset classes.

### How does Marwar Capital source proprietary deal flow?

The firm draws on the Bengani Group's multi-industry operating presence and longstanding business relationships in India. Ankit Bengani's membership in the Indian Angel Network and LetsVenture provides additional access to early-stage opportunities.

### Is Marwar Capital structured as a single family office or does it operate more like a venture firm?

It is organized as a single-family office that manages Bengani Group capital. The firm also maintains an advisory practice that partners with external managers and institutional investors on co-investments.

### Does Marwar Capital participate in fund commitments or only direct deals?

The firm uses both approaches. It commits to funds and executes direct co-investments and SPVs.

### What investment stages does Marwar Capital typically target?

The office focuses on early-stage and growth opportunities.

### Does Marwar Capital maintain philanthropic structures, and how are they separated?

The firm supports the VeCare Foundation. No public information details governance separation between the foundation and the investment office.

## Related profiles

- [Marwah Steels](https://altss.com/profile/marwah-steels)
- [Maryland Capital Advisors](https://altss.com/profile/maryland)

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Last updated: 2026-08-10T15:54:10.904Z

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