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Whiteboard Capital
Sandeep Tandon's Whiteboard Capital writes first checks into Indian tech, shaped by his FreeCharge exit. A solo-capital vehicle in Mumbai.
Whiteboard Capital
Whiteboard Capital is an institutional investor co-building companies where technology drives innovation and long-term value creation.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Mumbai, India
Sector focus
Frequently asked questions
Who runs investment decisions at Whiteboard Capital?
Sandeep Tandon makes all investment decisions. He operates Whiteboard as a solo-capitalist vehicle, which means he evaluates deals, writes cheques, and manages the portfolio directly. This structure keeps decision-making centralized and rapid, typical of founder-led funds in early-stage Indian tech.
How does Whiteboard Capital source proprietary deal flow?
Whiteboard's deal flow originates primarily from Tandon's personal network as the co-founder of FreeCharge, one of India's best-known consumer internet exits. He is a prominent angel investor in Mumbai startup circles and actively engages with founders on social media. The firm also sees inbound referrals from venture partners and co-investors such as Sequoia Capital India and Nexus Venture Partners.
Is Whiteboard Capital structured as a fund or a family office?
Whiteboard operates as a privately-funded investment vehicle rather than a formal institutional fund. Sandeep Tandon deploys his own capital, though the firm's portfolio cadence and syndication practices resemble a seed-stage venture firm. It does not publicly solicit external limited partners.
Does Whiteboard participate in fund commitments or only direct deals?
Whiteboard Capital focuses exclusively on direct equity investments in early-stage companies. It does not operate as a fund-of-funds or participate in LP commitments to other venture funds.
What investment stages does Whiteboard Capital typically target?
Whiteboard targets pre-seed and seed stages, occasionally extending into Series A follow-ons. Initial cheque sizes generally range from $250,000 to $1.5 million. The firm often enters before revenue, acting as a first institutional backer for Indian technology startups.
Where does the underlying capital come from?
Sandeep Tandon's capital base originates from his 2015 sale of FreeCharge, the mobile payments platform he co-founded, to Snapdeal in a deal reported at approximately $400 million (per public reports, 2015). Whiteboard does not manage external LP capital.
What is Whiteboard Capital's known posture on co-investments alongside external GPs?
Whiteboard frequently co-invests alongside prominent Indian and global venture firms, including Sequoia Capital India, Ribbit Capital, and Nexus Venture Partners. The firm does not operate a formal co-investment program but is regularly welcomed into syndicates due to Tandon's operator background and early-stage focus.
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