Bengaluru, India: Bipin Shah, one of India’s most experienced early-stage investors and a former partner at Titan Capital, has closed the first fund of his new venture firm,
Bengaluru, India: Bipin Shah, one of India’s most experienced early-stage investors and a former partner at Titan Capital, has closed the first fund of his new venture firm, Zeropearl VC, at Rs 159 crore (around $18 million). While the fund size is smaller than initially planned, Shah emphasizes that the goal is outsized returns over sheer capital.
The debut fund is designed as a solo general partner (GP)-led pre-seed and seed fund, allowing Shah to act quickly and decisively in backing high-potential startups.
Earlier in June, Shah had been in discussions to raise nearly Rs 250 crore ($30 million). Commitments reportedly touched Rs 280-300 crore, but Shah opted to cap the fund at Rs 159 crore to maintain flexibility and focus on generating superior returns.
“I intend to return at least Rs 1,600 crore, which is a 10X return multiple,” Shah 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.”
The strategy reflects Shah’s belief that smaller, focused funds can outperform larger pools of capital by moving faster and making higher-conviction bets on startups with significant upside potential.
An IIT Bombay alumnus, Bipin Shah brings over 14 years of investing experience to Zeropearl VC. He has evaluated more than 50,000 startups and backed over 250 companies, including Mamaearth, InVideo, Giva, Credgenics, and CityMall. His portfolio also includes notable exits such as Beardo (acquired by Marico), Oziva (HUL), and SuprDaily (Swiggy).
Shah’s extensive experience in spotting early-stage opportunities and guiding founders is central to Zeropearl’s approach. The fund aims to provide not only capital but also mentorship, strategic guidance, and market access, particularly for pre-seed and seed-stage companies.
Zeropearl Fund I has attracted capital from 31 successful founders, who contribute 52% of the fund, including 19 unicorn leaders and entrepreneurs from IPO-listed or IPO-bound companies. The remainder comes from global funds-of-funds and family offices, reflecting strong international confidence in Shah’s approach.
This mix of experienced founders and institutional investors allows Zeropearl-backed startups to benefit from both capital and hands-on mentorship, helping them scale faster and avoid common early-stage pitfalls.
“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.
Zeropearl Fund I has already invested in 20 companies, with seven disclosed so far:
The fund plans to back 45 startups in total, focusing on high-growth sectors such as:
Shah’s strategy emphasizes early-stage bets with high growth potential, with the aim of nurturing startups into market leaders and global competitors.
Zeropearl’s solo GP-led model allows for fast decision-making, which is critical in the highly competitive early-stage investment landscape. Unlike larger funds with multiple partners and committees, Shah can act quickly on high-conviction deals, giving startups a crucial first-mover advantage.
Additionally, the fund’s deep founder network provides early-stage companies with access to experienced mentors, strategic advice, and business networks that are often as valuable as capital.
“We are building a platform that enables founders to thrive, by giving them both funding and access to a network of proven entrepreneurs,” Shah said.
With the debut fund closed, Zeropearl VC is focused on scaling its portfolio, deepening sector expertise, and generating high returns for investors. The fund’s approach—targeting pre-seed and seed-stage startups across consumer internet, SaaS, AI, health, and climate tech—positions it to capture emerging opportunities in India’s fast-growing startup ecosystem.
Shah’s vision for Zeropearl is clear: identify high-potential founders, support them strategically, and create market-defining companies. With a combination of experience, capital, and mentorship, Zeropearl is poised to become one of India’s most influential early-stage venture firms.
