Backing Indian-origin founders building category-defining companies — for India, and from India to the world.
Callapina is an operator-led, conviction-led venture firm at the intersection of AI, India, and the global diaspora. Twelve years of investing across the US-India corridor; sixteen Fund I companies already proving the thesis.
Four investable convictions for the next decade.
"Vinod and team were our earliest investors, at a time when we were nothing more than a piece of paper. Investing in early-stage companies is risky and it takes a lot of conviction on the founder, and they figured that out. They stayed with us for 8 years, with Carestack giving them a handsome exit. Over the years I have watched Vinod and team mature as investors and they have built a skill set of identifying unique opportunities, and quite often opportunities which are 'orthogonal' to mainstream thinking."
Fund I portfolio.
Fifteen companies, constructed across thesis, market, stage, and investment year.
Research and writing from the corridor.
Follow Anas's future-unicorn research and Vinod's macro writing on liquidity, India, venture discipline, and cross-border company formation.
Future unicorn watch
Hurun-anchored quarterly research on India's Cheetah, Gazelle, and Unicorn pipeline: sector shifts, city formation, founder density, and breakout-company signals.
A quarterly research format anchored in the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025: 73 unicorns, 150 future unicorns, and a clearer CGU pipeline for India's next scaled companies.
Macro, markets, and venture discipline
Notes connecting liquidity, fiscal policy, asset prices, India resilience, and the case for backing capital-efficient founders before consensus forms.
A macro note arguing that asset-price strength is being driven less by fundamentals and more by liquidity distortion, with the venture implication that discipline should move toward capital-efficient AI and DeepTech founders.
Recent proof points from the portfolio.
Strategic acquisitions, tier-one follow-ons, and realized exits from the pre-fund angel book.
JSW One acquires BuildNext
JSW One announced the acquisition of BuildNext, with continued participation from Pidilite Ventures.
$25M Series B led by Bessemer
Seekho has become one of the standout active angel positions, scaling vocational learning for India.
Equirus backs Neverinstall
The enterprise desktop platform secured follow-on backing as it modernizes cloud workspaces for distributed teams.
Full angel exit after 8-year hold
The headline win in the angel ledger, validating India-built vertical SaaS before the category had consensus.
Acquired by FullContact
The first Kerala SaaS acquisition in the angel book, and the start of a founder relationship that compounded.
Acquired by ZoomInfo
A second-cycle realization from a repeat founder, later becoming part of the ZoomInfo Chat product line.
Acquired by Info Edge
A strategic consumer-internet exit that showed Indian incumbents will pay for high-intent vertical brands.
Fund II is open to qualified LPs. First close target Q1 2028.
We are prioritizing anchor commitments now from NRI HNIs, family offices, and institutional fund-of-funds who want a credible, India-corridor-specialist exposure.