India-focused investor Bay Capital is launching a new fund to back public and private companies in the digital space. The firm has named former Delhivery chief business officer Sandeep Barasia and ICICI Venture’s Tej Kapoor as cofounders and partners.
The firm is preparing to launch a Digital Opportunities Fund, a Category II Alternative Investment Fund designed to back high-quality, high-growth businesses, partnering closely with founders who are building enduring companies for India’s long-term digital future. The new fund will selectively invest across both private and public markets, said Bay Capital, which has previously backed companies such as Lenskart, Ixigo, CarTrade Tech and PolicyBazaar.
“Barasia and Kapoor will serve as cofounders and partners of the fund, combining Bay Capital’s institutional investment heritage with world-class operational expertise and an unparalleled network across India’s digital founder community,” the statement added.
Barasia left Delhivery in May 2024 after spending over nine years at the logistics company, and was appointed an advisor at Bay Capital in February 2025.
The firm is preparing to launch a Digital Opportunities Fund, a Category II Alternative Investment Fund designed to back high-quality, high-growth businesses, partnering closely with founders who are building enduring companies for India’s long-term digital future. The new fund will selectively invest across both private and public markets, said Bay Capital, which has previously backed companies such as Lenskart, Ixigo, CarTrade Tech and PolicyBazaar.
“Barasia and Kapoor will serve as cofounders and partners of the fund, combining Bay Capital’s institutional investment heritage with world-class operational expertise and an unparalleled network across India’s digital founder community,” the statement added.
Barasia left Delhivery in May 2024 after spending over nine years at the logistics company, and was appointed an advisor at Bay Capital in February 2025.
