Introduction to BAT VC’s Indian Venture
New York-based venture capital firm, BAT VC, has officially entered the Indian market with a plan to invest up to $100 million in startups that specialize in artificial intelligence (AI), deeptech, fintech, and B2B SaaS. This investment will be made through the firm’s second fund, which has a history of supporting high-potential early-stage ventures globally.
Investment Strategy
The fund will specifically target India-linked startups that are building AI-first solutions with global relevance. This strategic expansion comes as India’s AI sector is growing at an annual rate of 25-35% and is projected to reach $17-$22 billion by 2027. The enterprise SaaS market, which generated $11.5 billion in revenue in 2024, is also expected to grow at a rate of 15% CAGR over the rest of the decade.
Leadership Team
BAT VC’s India initiative will be led by three General Partners with deep entrepreneurial and technical credentials. Manish Maheshwari, former Twitter India head and Fanory.ai founder, will serve as India Head and will relocate to Bengaluru to spearhead operations. He is joined by Aditya Mishra and Ravi Metta, who bring their expertise from their previous roles at Yahoo!, EY, Accenture, Finastra, and Intuit.
"My move to Bengaluru underscores our conviction in India’s potential to lead the next wave of AI-driven global growth," Maheshwari said. Mishra added, "We aim to back Indian founders building globally relevant AI products, supported by capital and perspective from both the US and India." Metta noted that BAT VC’s edge lies in its ability to identify high-impact startups early and guide them through global scale-up.
Proven Track Record
Fund II builds on BAT VC’s portfolio of successful early bets, including Wand AI, Uptiq AI, StockGro, and two exits—Nickelytics and Accern—via acquisitions. The firm’s experience in bridging US and Indian ecosystems is expected to be a strong differentiator as cross-border AI investments continue to rise. In 2023, U.S.-India cross-border AI investment volume jumped 180% to $4.7 billion.
Market Opportunity
India, which accounts for nearly 20% of the global population, still receives less than 5% of the world’s venture-capital allocation. BAT VC sees this gap as an arbitrage opportunity, and its new fund aims to fill the white space with strategic capital and domain expertise. India’s startup ecosystem has matured rapidly, with total venture-capital funding rebounding to $13.7 billion in 2024.
Conclusion
In conclusion, BAT VC’s entry into the Indian market is a significant development for the country’s startup ecosystem. With its focus on AI, deeptech, fintech, and B2B SaaS, the firm is well-positioned to support high-potential early-stage ventures. The leadership team’s deep entrepreneurial and technical credentials, combined with the firm’s proven track record, make it an attractive partner for Indian startups looking to scale globally. As the Indian startup ecosystem continues to grow, BAT VC’s commitment to the region is a testament to the country’s potential to lead the next wave of AI-driven global growth.
