Caret Capital Fund II

India
Pre Seed
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About Caret Capital Fund II

Caret Capital Fund II is a venture capital firm based in India, focusing on Pre-Seed stage investments. The fund actively supports founders building innovative solutions in AI/ML, Climate & Sustainability, Mobility Transport, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionIndia
Funding StagePre Seed
Industry Focus
Ai Ml
Climate Sustainability
Mobility Transport

Investor Signals Profile

active

Sweet Spot

Early-stage Indian founder in mobility, supply chain, employment, or AI

sustainability
India supply chain
smart mobility / EV
employment & workforce
seed to Series A
India-to-Global enterprise SaaS
agentic AI / future of work

Bullish Signals

₹12 Cr PeakAmp deal led by Caretexternal
₹10 Cr Arthum deal led by Caretexternal
Accelerator cohort launched Aug 2024external
$1.2T sector TAM by 2030external
3 experienced operator-founders as GPsexternal
TraqCheck hits $8Mn Series Alinkedin
Portfolio co scaling Europe: 300+ enterpriseslinkedin
India-to-Global thesis proven via TraqChecklinkedin
$2.4Mn Milo Drive Series led by Caretlinkedin
EV fleets + driver livelihoods + clean mobilitylinkedin
Decentralized fleet ops solving India mobility gaplinkedin
10Mn jobs + 10Mn tonnes carbon reduction missionlinkedin

Contrarian Signals

Very narrow 3-sector mandateexternal
Small ticket size (max ₹15 Cr)external
India-only, impact-first lensexternal

Founder Do's

Build in supply chain, mobility, or employment
Show category-building potential
Target India's underserved markets
Have measurable impact metrics ready
Seek up to ₹15 Cr seed/Series A
Show India-to-Global expansion playbook
Leverage AI for enterprise workflows
Solve driver livelihoods + sustainability simultaneously

Founder Don'ts

Don't pitch outside 3 core sectors
Don't ignore impact KPIs
Don't expect late-stage cheques

Key GPs & Partners

KM
Karan Mittal
Managing Partner
EV-focusedPE/VC veteranmobility expert
PB
Pankaj Bansal
Co-founder & Managing Partner
serial entrepreneurexited founderemployment focus
PR
Prajakt Raut
Co-founder & Managing Partner
entrepreneurevangelistsupply chain focus
MK
Manoj Kohli
Chair, Investment Committee
seasoned operatorcommittee chair
KS
Ketika Singhal
Head, Caret Accelerator
accelerator leadsupply chain focus
AK
Aman Khan
Team Member
portfolio operations
YK
Yukta Kelkar
Team Member
investment team

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Fund Overview

Fund Size$160M
Saves0

Key People

Ankaj Bansal, Rajakt Raut, Karan Mittal

Karan MittalManaging Partner
Pankaj BansalCo-founder & Managing Partner
Prajakt RautCo-founder & Managing Partner
Manoj KohliChair, Investment Committee
Ketika SinghalHead, Caret Accelerator
Aman KhanTeam Member
Yukta KelkarTeam Member

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