Tenacity Ventures - DeepTechTracker

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India / Direct investor

Others: Effectiv, Exotel, Videonetics, Fable Fintech, Attentive.ai, Purplle

Others: Clear, Tailcall / ForgeCode, Seclore, IDfy, CloudSEK, Rocketium

Others: Toddle, Itilite, Pristyn Care, Headout

Indian founders, defensible technology and global markets.

Conviction-led capital for Indian founders.

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Average initial cheque · manager thesis~$5 million

Fund I · dated manager disclosure$100 million

Entry stageSeries A / B / C

Public portfolio history21 distinct identities

01 / The fund

Patient capital for compounding, global businesses

Tenacity is an India-focused, early-growth technology investor. Its current mandate covers proprietary software and AI, next-generation hardware, biotechnology, advanced materials and renewable energy. The manager says 90% of investments are early growth, across Series A, B and C, with an average starting cheque of about $5 million. That is an average, not a minimum or guaranteed offer.

The current manager focus page describes investing from a $100 million fund. VCCircle reported more than $100 million in commitments on 10 May 2022. The manager reproduced that article on 6 March 2024; its newer page date alone does not establish when those commitments were raised. A separate Mint interview on 3 July 2025 reports Fund I final close at $100 million in March 2024 and 80-85% deployed across 15 companies at that time. It also describes a planned $150 million second fund and proposed larger tickets. A plan is not proof of launch, close or currently available capital; those proposed terms do not replace the manager's current average cheque.

The public legal disclosure names Tenacity Ventures AIF, scheme Tenacity Ventures Fund - I, Category II AIF IN/AIF2/21-22/0990. The manager is Tenacity Investment Advisors LLP and sponsors are Bulletproof Partners LLP and Doremi Enterprises LLP. Sponsorship or legal registration is not an outside LP subscription or proof of capital raised. This India-focused firm is distinct from US-based Tenacity Venture Capital associated with Ben Narasin.

Current mandate and cheque ↗ · Dated fund history ↗

02 / Portfolio

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21 distinct public manager portfolio identities, including exited Effectiv. Current grid, individual manager profiles, manager news and historical fund reporting were reconciled; repeated responsive cards and rebrands are counted once. This is the public history found, not a claim to a private exhaustive holding register or proof that every name belongs to the same vehicle. The 15-company figure reported in July 2025 is a dated snapshot, not the current total.

Peptris and 1Cell.AI are BioTech; Statiq is Energy & Materials for EV charging infrastructure; Tonbo Imaging is Physical AI for optical and thermal hardware; QNu Labs is Quantum for QKD and quantum-random-number hardware. Videonetics is software-led video analytics and stays in Others. Construction software Attentive.ai, cybersecurity and generative AI software also stay in Others. The mandate includes chips and space, but no current holding is placed in those sectors without evidence.

Every company own site was inspected on 2 November 2026. Tailcall's destination now presents ForgeCode; a separate investor profile confirms ForgeCode was formerly Tailcall, so it remains one identity. 1Cell.AI/OneCell Diagnostics and Clear/ClearTax are also reconciled. Effectiv remains historical after Socure's October 2024 acquisition. The 21 company marks below come from individual manager profiles, not invented name tiles.

Energy & Materials 1

Statiq ↗

EV charging infrastructure, network operations and charging software.

Patient capital for compounding, global businesses

Explore by sector

Energy & Materials 1

Physical AI 1

BioTech 2

Quantum 1

Others 16

Separate earlier experience

Investment team

Rohit Razdan

Gourav Bhattacharya

Rohan Arora

Limited partners

Abhishek Ravi

Ankit Solanki

Bhavit Sheth

Harsh Jain

Sachin Maheshwari

Saran Chatterjee

Srivatsan Chari