About Us

About Multiply Ventures

A thesis driven, early stage VC fund focused on Consumer Brands, Consumer Tech and Fintech — SEBI registered Category I (since 2020) and Category II (since 2025) Alternative Investment Funds.

Our Story

Passionate, Empathetic
& Committed

We are 3 cognitively very different people who founded Multiply Ventures. What unites us are the strong operational skills that we have gained and the passion to work with ambitious founders. We have seen the evolution of the startup ecosystem in India since its nascent stage. We have seen both the highs and the lows.

Hence, we empathize with early stage founders and help them to scale from 0 to 1. Our key focus is to identify teams in their formative months, understand their core inspiration for solving a problem, absorb the key insights behind their ideas and build conviction in these teams and ideas very early, drawing on our deep global operating experience in product, sales, and marketing.

Meet Our Team

Fund 1 · SEBI Registration

Fund Name
India Foundation Fund Series I
Trust
Multiply Ventures India Trust
Category
Category I — Venture Capital Fund
Registration No.
IN/AIF1/19-20/0778
Registration Date
03 March 2020
Investment Manager
MVG Advisory LLP
Trustee
Vistra ITCL (India) Limited

Fund 2 · SEBI Registration

Fund Name
Multiply Ventures F2 Series — 1
Trust
Multiply Ventures Trust
Category
Category II — Alternative Investment Fund
Registration No.
IN/AIF2/25-26/1954
Registration Date
10 November 2025
Investment Manager
MVG Advisory LLP
Trustee
Orbis Trusteeship Services Pvt. Ltd.
Sponsor
MVG Capital Advisors LLP

Our Thesis: A Singular Focus on the Indian Consumption Opportunity

Consumer

Backing brands that cater to new consumer cohorts and evolving preferences.

  • New formats and innovative design
  • Premiumization across categories
  • New consumer cohorts: Gen-Z and Seniors (Silver Economy)
  • India-2 market expansion

Consumer Tech

Investing in platforms that are reimagining the consumption experience through AI, marketplaces, and social commerce.

  • Platformization and marketplace models
  • AI-driven personalization and discovery
  • Reimagining consumption experiences
  • Social and networked consumer plays

Fintech

Capitalising on India's world-class digital public infrastructure to build verticalized and embedded financial services.

  • Apps for new consumer cohorts
  • Leveraging Digital Public Infrastructure
  • Verticalized financial services
  • Embedded finance: lending, insurance, wealth
  • Credit management and alternative data

These three sectors represent the highest-growth, most defensible opportunities in India's next decade of development.

India: The Decade of the Consumer

India is at an inflection point. Five structural tailwinds are converging to create a $1T+ consumption economy by 2030.

  • $7T

    Projected GDP by 2030

  • 1 Bn+

    Internet users by 2030

  • 550M

    Middle-class consumers by 2030

  • 20B+

    Monthly UPI transactions (2025)

  • 700M

    Gen-Z and Millennial consumers by 2030

What's Driving Change

The Catalysts

  • Microfication

    of products & services built for self-adoption (vs assisted).

  • New Digital Rails

    like UPI, Zoom, Google Maps, Aadhaar will offer faster access & affordable delivery of products & services.

  • Contextual Delivery

    of products & services will drive a new wave of adoption — Loans at POS or during buying, Micro Insurance at airport / travel booking, learn-on-job, micro-skilling for a specific need.

Our discipline is to stick to what we know and what we believe in. Our thesis-driven conviction helps us decide when to double down. It also assures you, as the founder, that we would be 'real believers' — regardless of the current 'mood' of the market — and truly understand the value you are creating. Building a product takes time. We understand this, and being investors in your venture means having passionate, but also honest, partners who know when to push you, and when to hold you back.

Where We're Going

Our Mission & Vision

Mission

Investing in great founding teams and being true partners in their journey

Our mission is to be the 1st institutional investor in great founding teams & actively support them in achieving product-market fit. We think it's about the execution, not the idea. Our greatest contribution is aligning our expertise to a founder's needs — whether that's to hire, grow or raise.

Vision

To be one of the most impactful early-stage VC funds in India

We aim to invest and support ambitious entrepreneurs who are embarking on launching products and services that serve the large Indian consumption basket very early in their journey. We stand by — the best founders want to radically change the world for the better. Our approach is to be Passionate, Committed and Empathetic.

Talent through a Doers Network

We have been fortunate to work with many talented people across product, design, growth, engineering and brand functions. They are willing to spend time with our portfolio companies to solve specific challenges — bringing real, tactical experience to bear at the moment it matters.

A Unique Investment Model

We come in early, capitalize the company well, and commit to investing an agreed amount more on the achievement of mutually agreed milestones. This keeps incentives aligned and gives founders a clear runway to build with conviction.

Customer Access via Ecosystem Partnerships

We are stitching together partners with a large consumer footprint who are willing to give portfolio companies real customer access — over 300 million Indian consumers and 10 million small/medium businesses through our ecosystem partners — wherever there are adjacencies.