Endiya Partners Achieve Top Performance in Seed Investing

Endiya Partners, a leading early-stage venture capital firm, has cemented its position as one of India's top-performing seed investors, delivering exceptional returns from its maiden fund. The firm's first fund (₹175 Cr, 2016 vintage) has achieved an impressive 4.0x Multiple on Invested Capital (MOIC), placing it in the top performers of funds from its vintage. The fund's performance includes a partial exit from Darwinbox, a cloud-based HR tech platform that has emerged as a unicorn in the enterprise SaaS space.

Through a strategic, thesis-driven investment approach, Endiya has successfully backed category-defining startups across SaaS, cybersecurity, semiconductors, and digital health sectors. The firm's disciplined portfolio construction, with 12 high-conviction investments, has yielded multiple strategic exits, secondary sales, and a robust IPO pipeline.

Endiya led the seed round in Darwinbox, which has since evolved into a global HR-tech unicorn serving enterprises worldwide. Darwinbox recently secured $140 million in growth capital from KKR and Partners Group. The firm has also seen portfolio company acquisitions, including Steradian Semiconductors (acquired by Renesas) and ShieldSquare (acquired by Radware).

In healthcare technology, SigTuple's FDA-cleared AI pathology platform secured a global distribution licensing deal with Horiba. Endiya expects further liquidity events with Kissht's confirmed IPO within the next 12 months, alongside CureFit's anticipated public listing in the same timeframe.

"We remain committed to our strategy of backing category-defining companies from India for global markets," said Sateesh Andra, Managing Director at Endiya Partners. "Our ability to generate diverse exit pathways while maintaining investment discipline differentiates Endiya in the early-stage venture ecosystem."

"Our disciplined, thesis-driven approach has been pivotal to Fund I's performance," added Dr. Ramesh Byrapaneni, Managing Director at Endiya Partners. "For every $1 we invested, our portfolio companies raised over $50 in follow-on capital, demonstrating both the quality of our investments and our ability to identify scalable businesses early."

The firm's portfolio metrics underscore this success, with 85% of portfolio companies securing follow-on funding rounds. Endiya's operator-led approach drives portfolio success by facilitating product rollouts, talent acquisition, sales/business development introductions, and follow-on fundraising. Building on its Fund I success, Endiya's second fund has constructed a robust portfolio including high-growth startups such as Darwinbox, Scrut Automation, Zluri, EyeStem, Sugarfit, Qapita, Mylo, AquaExchange, and BluJ Aerospace.

Endiya's third fund, backed by institutional limited partners including IFC and AIIB, has already deployed capital into four investments across enterprise technology, industrial technology, healthcare, and life sciences including AltiusHub, Perceptyne, Pulse and Nivaan Care.