Fund profile / India

Caret Capital Fund II

Geography: India
Stage: Pre-Seed
Fund size: $160M
Focus: AI/ML, Climate & Sustainability and Mobility & Transport
Signals: Published

N°01 / About

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.

N°02 / Thesis

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 F&B logistics

sustainability

India supply chain

smart mobility / EV

employment & workforce

seed to Series A

India-to-Global enterprise SaaS

agentic AI / future of work

cold chain logistics

F&B tech

on-demand logistics

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

JustDeliveries beating revenue & profitability targetslinkedin

JD Instant: on-demand cold chain category creationlinkedin

Portfolio executes well, strong operational tenacitylinkedin

JD Instant 100 deliveries, massive F&B TAMexternal

JustDeliveries cracked ad-hoc refrigerated vehicle demandexternal

Mansi Mahansaria team shows exceptional executional tenacityexternal

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, employment, or F&B tech

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

Hit revenue targets & profitability milestones

Solve last-mile pain points in logistics

Founder Don'ts

Don't pitch outside 3 core sectors

Don't ignore impact KPIs

Don't expect late-stage cheques

41 signals on Caret Capital Fund II

18 bullish · 3 contrarian · 10 pitch do's · 3 don'ts · 7 GP profiles, each with its source. From €9/month, cancel anytime.

See a signal free View Plans Browse all Signal Profiles →

Facts

Fund Overview

Fund Size$160M

Saves0

Website

People

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

N°04 / See also

Related Funds

Cornerstone Ventures Fund II

Fund size$40M

Location: India
Stage: Pre Seed
Focus: Saas, Ecommerce
Manager: Abhishek Rasad, Rajiv Vaishnav

Pre Seed

Saas

Ecommerce

Ajvc Fund I

Fund size$18.7M

Location: India
Stage: Pre Seed
Focus: Enterprise Software, Saas, Ai Ml, Fintech
Manager: Aviral Bhatnagar

Pre Seed

Enterprise Software

Saas

Ai Ml

Fintech

Blume Ventures Fund V

Fund size$175M

Location: India
Stage: Seed
Focus: Fintech, Digital Health, Consumer Commerce, Deep Tech, Ai Ml, Saas, Marketplaces

Seed

Fintech

Digital Health

Consumer Commerce

Deep Tech

Ai Ml

Saas

Marketplaces