Ex-Titan Capital partner Bipin Shah closes Rs 159 crore debut fund for Zeropearl VC

Bipin Shah, one of India’s most prolific early-stage investors and former partner at Titan Capital, has closed the first fund of his new venture firm, Zeropearl VC, at Rs 159 crore (about $18 million). The close comes at a smaller size than initially planned but with a clear ambition: outsized returns.

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In June, Shah had been in talks to raise nearly Rs 250 crore ($30 million). According to him, commitments had touched Rs 280-300 crore, but he opted to cap the fund.

“I intend to return at least Rs 1,600 crore, which is a 10X return multiple,” he told Moneycontrol. “I have an internal rate of return (IRR) of over 50% and plan to maintain that. It is easily possible with a smaller corpus.”

Zeropearl has positioned itself as a solo general partner (GP)-led pre-seed and seed fund, designed to move with speed and conviction. Shah, an IIT Bombay alumnus with 14 years of investing experience, has evaluated more than 50,000 startups and backed over 250 companies, including Mamaearth, InVideo, Giva, Credgenics, and CityMall. His portfolio includes notable exits, such as Beardo (acquired by Marico), Oziva (HUL), and SuprDaily (Swiggy).

More than half of Zeropearl’s capital, 52%, has come from 31 successful founders, including 19 unicorn leaders and entrepreneurs from IPO-listed or IPO-bound companies. The remainder has been contributed by global funds-of-funds and family offices, with investors expected to provide not only capital but also mentorship and market access.

Zeropearl Fund I has already invested in 20 companies, with seven disclosed so far, including sneaker brand Gully Labs, health-tech venture Cura Care, AI-powered Catalogus, climatetech startup Zanskar, nutrition brand Supply6, retail platform Tryo, and Akinna. The fund aims to back 45 startups in all, focusing on consumer internet, SaaS, generative AI, health and wellness, and frontier areas such as climate technology.

“Starting over again wasn’t easy, but this fund is both a fresh beginning and a tribute to the founders who dared to take early risks on themselves,” Shah said.