Zodius Capital

Investment decisions are made by the partnership led by co-founders Neeraj Bhargava and Shilpa Kulkarni, who serve as managing partners. Both bring prior experience as founders and operators of technology companies before transitioning to growth-stage investing. The firm maintains a concentrated portfolio approach with partners closely involved in each investment.

Zodius targets growth-stage companies, writing first institutional checks ranging from $10 million to $30 million. The firm reserves meaningful capital for follow-on investments in existing portfolio companies. Its mandate covers Series B through late-stage rounds in Indian technology businesses.

Both managing partners scaled technology businesses before founding Zodius. Neeraj Bhargava founded RiskMetrics Group and led WNS Global Services as CEO; Shilpa Kulkarni built and scaled Indian operations for several global firms. This operating DNA means the firm engages portfolio companies on go-to-market strategy, US expansion, and executive hiring rather than limiting involvement to board governance.

Zodius has not disclosed explicit sector exclusions, but its portfolio concentration in Enterprise Software, FinTech, Digital Health, and Consumer Tech suggests the firm stays away from hard infrastructure, heavy manufacturing, and non-tech services. The firm has not made known investments in real estate, commodities, or traditional energy.

The firm maintains offices in Grand Rapids, Michigan and New York alongside its Mumbai headquarters, creating an operational bridge for portfolio companies seeking US market entry. This structure facilitates introductions to US-based customers, partners, and acquirers, which has been instrumental in exits like the sale of GoJavas to a Blue Dart Express entity.

Zodius has produced exits including the acquisition of portfolio company GoJavas by Blue Dart Express, and the sale of a geospatial imaging company to Airbus. Portfolio company OfBusiness reached reported unicorn valuation and subsequently a valuation exceeding $5 billion, marking one of the firm's highest-profile unrealized holdings.

Zodius has co-invested alongside firms including Warburg Pincus, which participated in a funding round for portfolio company Capillary Technologies. The firm's network across Indian and US technology ecosystems often brings syndicate partners into deals, but the firm leads or co-leads rounds in its target check-size range.