360 ONE Asset Research
Investment Thesis
360 ONE Asset is the asset management arm of Mumbai-listed 360 ONE WAM (formerly IIFL Wealth and IIFL Asset Management), which counts Bain Capital as an investor. Its private equity platform pitches an "Idea to IPO" capital stack across venture capital, growth equity, late-stage and pre-IPO PE, secondaries and fund-of-funds, plus a co-investment program. The firm leans on thematic, sector-focused strategies and on distribution through one of India's largest wealth management networks, citing access to 7,500+ founders.
The early-stage venture fund, launched in May 2025, is sector-agnostic but names long-term macro themes: domestic consumption, financial infrastructure, healthcare, AI-led services, and deep-tech including space, defence and precision manufacturing. The stated aim is to bridge the white space between India's micro-VC funds and large global funds with patient, long-term capital.
Stage Focus
The PE platform spans seed through pre-IPO. The dedicated VC fund (Rs 500 crore, about $60M) targets seed and Series A. A separate mid-stage venture strategy covers venture growth. Late-stage and pre-IPO funds, a secondaries fund (2024) and a multi-stage space and defence fund (2025) round out the platform.
Check Size
The firm does not publish check sizes. With a $60M early-stage fund, seed and Series A checks are likely in the low single-digit millions of dollars, but this is an inference and is not recorded in the structured fields.
Lead Tendency
Not stated. The firm describes active ownership, governance support and co-investment offerings to strategic partners, which suggests it takes meaningful positions, but lead versus follow behavior is unknown.
Recent Activity
- May 2025: launched a Rs 500 crore ($60M) VC fund led by Abhishek Nag, with four initial deals in the pipeline: a hybrid-casual gaming company, a hot sauce brand, a SaaS startup and a space-tech firm building indigenous Synthetic Aperture Radar (consistent with Sisir Radar on the portfolio page).
- 2025: launched what it calls India's first multi-stage space and defence fund.
- 2024: launched India's first direct secondaries fund in private equity.
- The firm hosts the annual Founders Day conference for founders and institutional investors; the fourth edition ran in March 2026.
- Closed a fifth private credit fund with a $400M corpus (private credit, outside the VC mandate).
Portfolio Highlights
The PE page reports Rs 30,459+ crore AUM, 103+ portfolio companies including 24 unicorns, and Rs 18,578+ crore distributed. A select set of 30 companies is shown, spanning consumer brands (Bluestone, Country Delight, Kapiva, Snitch, WoW! Momo, DailyObjects, Two Brothers Organic Farms), healthcare (API Holdings, Qure.ai, Kauvery Hospitals, Paras Hospitals), fintech and financial services (KFin Technologies, SK Finance, Vastu Housing Finance, Bharti AXA Life Insurance, NSE), space and defence (Digantara, Sisir Radar, Constelli Signals, CoreEL Technologies), mobility (Exponent Energy, Sedemac), plus Akasa Air, Anarock, Miko, C5i and others.
Team
- Sameer Nath: CIO and Head, Venture Capital and Private Equity. 27+ years; founded TrueScale Capital, co-founded Iron Pillar, ex-Citigroup.
- Abhishek Nag: Head of Venture Capital and Co-head of Defence and Space. Ex-Partner at Lightspeed, ex-Netflix India, Hike, Uber and Meta; angel in 55+ startups.
- Harish Hulyalkar: Head of Financial Services and Co-head of Technology; President and Head of Portfolio and Fund Management, PE.
- Sandeep Maheshwari: Head of Secondaries and Co-head of Defence and Space; ex-Edelweiss and Axis Capital.
- Sumit Jain: Head of Venture Growth and Co-head of Technology; ex-Sistema Asia Fund and Kalaari Capital.
- Tarun Sharma: Head of Healthcare and Consumer; ex-MegaDelta Capital, NEA and Goldman Sachs.
Decision Process
Sector-head structure under a CIO, with a 24+ member investment team. Decisions are most likely made by an investment committee; the exact process is not published.
Founder Preferences
Growth-oriented, high-quality founders. The early-stage strategy emphasizes backing founders from their first institutional round through scale, with support from the wealth network and the Founders Day community.
Geographic Focus
India. The broader 360 ONE Asset business also runs offshore mandates across the USA, Canada, UAE, Singapore and Europe, but the VC and PE strategies described here invest in Indian companies.