Latest fund size
$400M
Announced
October 27, 2026
Global HQ
India
Members only
Check size
$500K-$3M
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Stage focus
Seed, Series A, Series B
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Regions of investment
India
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Mettle Capital is an India-focused venture capital firm founded by three former Peak XV Partners Managing Directors, backing startups from seed through Series B in enterprise AI, deeptech, and consumer internet. The firm is raising its debut fund with a target of $350 million to $400 million.
Ashish Agrawal, Founding Partner (formerly Managing Director, Peak XV Partners)
Ishaan Mittal, Founding Partner (formerly Managing Director, Peak XV Partners)
Tejeshwi Sharma, Founding Partner (formerly Managing Director, Peak XV Partners)
Members only
Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
Mettle Capital is an India-focused venture capital firm backing high-growth Indian startups from seed through Series B, with a concentrated strategy of five to six high-conviction investments per year.
The firm focuses on enterprise AI, deeptech, and consumer internet, alongside fintech, health tech, and B2B software, writing checks of $500,000 to $3 million.
Mettle Capital invests behind founders with proven product-market fit and traction, and is in talks with limited partners in the United States, Europe, and Asia, alongside plans to raise domestic capital in India.
Members only
What the fund looks for in founders and which sectors it backs.
Mettle Capital is raising its debut fund, Mettle Capital Fund I, with a target of $350 million to $400 million.
The firm was founded by Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma, three former Managing Directors at Peak XV Partners (formerly Sequoia Capital India), who departed the firm in early 2026 amid a wave of senior exits.
The fund aims to close within the following quarter of its announcement, with initial deployment expected soon after.
Members only
Fund size, LPs and track record.
Leadership
Investment Strategy
Mettle Capital runs a concentrated strategy of five to six high-conviction investments per year, writing checks of $500,000 to $3 million into companies with proven product-market fit and traction.
The firm is in talks with limited partners in the United States, Europe, and Asia, and also plans to raise domestic capital in India.
Track Record
Members only
Leadership, investment strategy, notable investments and exits.
