Windrose Capital

How to reach the fund

• Fill in the Application Form linked from the Apply page. The firm calls it the best and fastest route, even if you do not know anyone there.
• Send fund-raising questions to pitch@windrose.capital. Use info@windrose.capital for anything else.
• The form can take uploads, and PDFs and spreadsheets are preferred.

What to prepare

• Be ready to explain your customers, your market, your product and your business model. The form also asks for basic company and financial information.
• If a question does not apply or is too early, write a dash or N.A. rather than leaving the form half empty. The firm prefers it fully filled in.
• Read the short draft seed term sheet on the Apply page before you pitch, so you know the basic terms.

What the fund looks for

• Technical founders or founding teams who can explain the why behind the idea, and who are strong on execution, go-to-market and product.
• Financial inclusion and B2B enterprise tech are the two named themes. Deep tech and enterprise SaaS sit under the second.
• Strong unit economics and a defensible business. Asset-heavy companies and crowded markets with no differentiation are unlikely to fit.

What to check

• The site does not state a fund size, a cheque size or an application deadline. Ask early whether the firm can lead your round or join it.
• It promises a clear and prompt answer on fit. If it takes longer, the firm says it is probably reviewing your business in more detail.

Windrose Capital is an entrepreneur-led venture capital firm based in Pune, Maharashtra. It says it was founded in 2013 by digital natives who had been founders themselves, and that it backs promising Indian start-ups at the early stage. It manages The Next Billion Fund, which its media page describes as a SEBI registered Cat-1 AIF Venture Capital Fund.

What it backs

Windrose describes itself on its application page as a seed fund and a risk capital investor. It looks for technical founders or founding teams who show an enduring will to bring innovative projects to life, and it also says it likes companies with proven unit economics and room to grow fast in a focused market segment. Its vision page names two broad themes: Financial Inclusion, including new FinTech products and distribution of existing ones, and B2B Enterprise Tech, including Deep Tech and Enterprise SaaS.

It is open about what it avoids. It stays away from companies that depend heavily on assets, from crowded markets with no clear differentiation, and from businesses unlikely to grow exponentially.

How it chooses

The vision page sets out a filter-funnel with four steps: whether the idea fits the Indian economic and technology context, whether the sector is one the team understands deeply, whether the business has strong unit economics and a defensible moat, and whether the founding team is mission-driven, biased towards execution and strong on go-to-market and product. It closes by saying its governing principles are simplicity and clarity.

Support beyond capital

The home page says an investment from Windrose is about more than capital: operational expertise, a focused group of hands-on entrepreneur advisors, and a supportive community. The about page says it tries to keep early conversations, terms and legalities simple and transparent, and to help portfolio companies with important non-core processes so that trouble is avoided early.

Portfolio

The portfolio page lists companies across drones, immersive design collaboration, e-commerce tooling, legal finance, wealth distribution, pharmacy supply, procurement software, healthcare financing, robotics and AI. Names include Skye Air Mobility, Trezi, Rubick (by Text Mercato), Legalpay, Nivesh, Biddano, Datachamps, NimbleS2P, BusinessOnBot, Atmax, DigiSparsh, Invento Makerspaces, Precily AI, DataNeuron and IdeaForge. Some entries say Windrose joined as a co-investor in a syndicated round, and one says it backed the company alongside other institutional investors at seed.

How to pitch

The apply page says its Application Form is the best and fastest way to reach the firm, whether or not you know it. It asks about the founders, your clarity on customers, markets, products and business model, plus basic company and financial information. You can mark a question with a dash or N.A. if it does not apply, and you can upload PDFs and spreadsheets. Fund-raising queries go to the startups inbox. The page also links a short draft seed term sheet and promises a clear and prompt answer on whether you fit, noting that a longer wait usually means a closer review and a call.

Who runs it

The about page lists Rohit Goyal as Managing Partner and Brajkishor Baheti as Partner, along with an operations manager and an investment analyst. The firm also publishes a monthly newsletter and a media page with press coverage of its deals.