HyperScale Ventures Research
Investment Thesis
HyperScale Ventures is an operator-led early-stage fund that backs Indian consumer brands only. It was launched in 2025 by Suyash Saraf and Anisha Agarwal Saraf, the founders of Dot & Key, a skincare brand they say they built to roughly 1,000 to 1,200 crore rupees of revenue run rate since 2018. The firm's tagline is "Builders first. Investors second." Its stated beliefs are that the Indian consumer is more value-conscious than the market admits, that the best founders obsess over the consumer and not the cap table, that profitability is the strategy and not the exit, that operator capital is worth several times passive capital, and that brand is the moat while India is still early. The pitch to founders is that what took Dot & Key five years, HyperScale wants to help a founder do in three.
Stage Focus
The site says the fund invests from pre-seed to Series A. Its LinkedIn page describes Seed to Series A. Portfolio activity shows participation in later rounds as well: it joined The Pant Project's Series B in October 2026 and Asaya's Series A in August 2026, both as an existing investor.
Check Size
The Our Story page says the fund invests up to 10 crore rupees per company (roughly $1.1M). HyperScale's LinkedIn page gives $500K to $1M cheques. The fund size and AUM are not disclosed on the site or in the sources found.
Lead Tendency
No evidence the fund leads rounds. In the two rounds found (Asaya Series A led by RPSG Capital, The Pant Project Series B led by Mirae Asset Venture Investments), HyperScale participated. The site lists co-investors it partners with: Sharrp Ventures, RPSG Capital, Fireside Ventures, MGA Ventures, Huddle Ventures, Sauce.vc, Sorin Investments and Spring Marketing Capital. Lead tendency is recorded as unknown.
Recent Activity
- August 2026: Participated in Asaya's Rs 88 crore (about $9.2M) Series A led by RPSG Capital, at a Rs 400 crore post-money valuation, alongside OTP Ventures, Huddle Ventures and 72 Ventures.
- October 2026: Participated in The Pant Project's Rs 109 crore (about $11.5M) Series B led by Mirae Asset Venture Investments (India).
- September 2025: Asaya was announced as an early portfolio addition (Pre-Series A, led by RPSG Capital).
The fund appears to be actively deploying. It describes making "many investments" since its first cheque in 2025.
Portfolio Highlights
The portfolio page lists twelve brands: Asaya (skincare and wellness), The Pant Project (apparel), Loopie (design-led baby gear), Good Monk (nutrition and wellness), Solved Skin (skincare), Numour (beauty tech), FAE Beauty (skincare and makeup), Bizzy Bix (healthy biscuits), Cleevo (home cleaning), Zoomies (pet food), Upside (sleep recovery) and Naturis (beauty and personal care). No exits were found. Stage at investment is not disclosed for most companies, so none is recorded.
Team
- Suyash Saraf, Co-Founder: Co-founder of Dot & Key, now running HyperScale.
- Anisha Agarwal Saraf, Co-Founder: Co-founder of Dot & Key.
- Srivar Harlalka, Principal: Listed as the contact for pitches and LP inquiries ([email protected]).
- Vedika Agarwal, Vice President.
Decision Process
Not disclosed. The founders appear to make decisions directly ("first cheque from an Italy holiday, backed by founder conviction over spreadsheets"). Pitching is open through the contact form, and they say a polished or messy deck is fine.
Founder Preferences
The site lists six criteria: founder-market fit (lived understanding of the customer), product before story (real differentiation in formulation, design, efficacy or experience), signals that compound (repeat rates, word of mouth, community), a clear path to healthy unit economics, a category with secular tailwinds, and founders who want a thinking partner and honest feedback. Founders testify to hands-on help on P&L, channels (Nykaa, Amazon, Myntra, quick commerce, modern trade), hiring and brand building.
Geographic Focus
India only, consumer brands only (beauty and personal care, apparel, food and wellness, home, pet, baby). The firm is based in Kolkata.
Gaps
Fund size, AUM, fund vintage and number of portfolio companies beyond the twelve listed are not public in the sources checked. Portfolio company domains were left null because the portfolio page gives no links.