New Indian Fintech Fund Closes
OTP Ventures, a new firm led by former McKinsey executives, has closed its first fund at Rs 500 crore (approx. $60 million). The fund, which includes Rs 75 crore from its partners, will target investment opportunities in India's fintech sector.
- The fund was co-founded by Suhail Sameer, the former CEO of fintech unicorn BharatPe, along with Kunal Suri and Saurabh Vashishtha, who previously co-founded the e-commerce platform simsim, which was acquired by Google. - OTP Ventures will focus on seed and pre-Series A investments in consumer, consumer-tech, and fintech startups. The firm's typical check sizes will range from Rs 4 crore to Rs 20 crore, aiming for a 10-20% ownership stake in its portfolio companies. - The fundraising process, which began in August 2024, initially faced challenges and rejections from institutional investors and family offices before gaining momentum in mid-2025 and eventually surpassing its Rs 400 crore target. Investor commitments ultimately reached over Rs 750 crore by January 2026, but the firm capped the fund at Rs 500 crore to maintain discipline and maximize returns. - The fund's limited partner base includes approximately 55 investors, with about 10% of the capital coming from nearly 20 startup founders. The three general partners of OTP Ventures are also significant contributors, having committed about 10-15% of the fund themselves. - Since its first close in August 2024, the fund has already made around 15 investments in companies such as wealth tech platform Liquide, omni-channel pharmacy platform Zeelabs, and feminine hygiene brand Plush. - The Indian fintech market, where OTP Ventures will be investing, saw a marginal 2% increase in total funding to $2.4 billion in 2025, ranking it third globally. While seed-stage funding declined, early-stage funding saw a significant 78% jump, indicating strong investor interest in scalable business models. - Digital payments continue to dominate the Indian fintech landscape, accounting for over 42% of the market share in 2025, largely driven by the widespread adoption of the Unified Payments Interface (UPI). - As angel investors, the founders of OTP Ventures have a track record of backing over 60 companies, including successful brands like Mamaearth and The Whole Truth.
