Titan Capital Research
Investment Thesis
Titan Capital is the early-stage, sector-agnostic startup investment office of Kunal Bahl and Rohit Bansal, the co-founders of Snapdeal. Founded in 2015 and based in Gurugram, India, the firm describes its mission as "investing behind Founders who create a Better World," with a philosophy of operator-led early-stage capital. Bahl and Bansal position the founding team as the single most important underwriting criterion, stating that "the startup team is the number one criteria" for their investment decisions. The firm emphasizes speed and founder support over process, with the majority of investment decisions made in two meetings or fewer, and a stated commitment to "do whatever it takes to help [founders] succeed" once backed.
Stage Focus
Titan Capital's core strategy is to be the first institutional investor in a company, concentrating on Pre-Seed and Seed. It has made roughly 173+ Seed-stage investments with an average round size near $1.5M. Beyond the core seed check, the firm runs a dedicated follow-on vehicle, the Titan Capital Winners Fund, which exclusively backs breakout companies from its seed portfolio into their subsequent (Series A and later) rounds, allowing Titan to maintain ownership and support winners as they scale.
Check Size
The firm's standard seed check is $300K-$500K, typically written at a valuation cap around $6M. The Winners Fund follow-on vehicle deploys larger checks, targeting roughly Rs 15 crore (~$1.8M) per company across an initial cohort of about 20 breakout portfolio companies.
Lead Tendency
Titan Capital functions primarily as a lead / first-check investor. Being "typically the first investor in the companies it invests in" and moving quickly through diligence positions the firm as an anchor for seed rounds, though it also participates alongside other institutional seed and Series A investors (e.g., co-investing with Info Edge Ventures, Fireside Ventures, and Inflexor Ventures on various deals).
Recent Activity
- July 2026: Continued backing of AI sales-tech startup Revspot in its $4.8M Series A (co-led by Inflexor Ventures and Info Edge Ventures), having been an early seed investor in the company.
- February 2026: Participated in D2C home appliance brand Nester's pre-Series A / seed round alongside Fireside Ventures and OTP Ventures.
- May 2025: Launched a dedicated defence-tech investment vertical to back Indian startups in hardware, aerospace, cybersecurity, and advanced manufacturing tied to national security and deep-tech.
- October 2024: Announced the final close of the Titan Capital Winners Fund at Rs 333 crore (~$40M), a Category-II AIF dedicated to follow-on investing in breakout portfolio companies, backed by family offices, founder-CEOs, and VC ecosystem participants.
Overall, Titan Capital appears to be actively deploying across both its core seed check-writing and the Winners Fund follow-on vehicle, while also expanding into new thematic verticals such as defence-tech.
Portfolio Highlights
Titan Capital has made 350+ investments across 300+ portfolio companies, generating 8 unicorns, 4 IPOs, and 27 acquisitions. Marquee names include Ola, Urban Company, Razorpay, Mamaearth, OfBusiness, Snapdeal, Shadowfax, Credgenics, Bira 91, Jupiter, Khatabook, and GIVA. The portfolio spans consumer internet/D2C, fintech, SaaS, logistics, and (more recently) defence-tech, and collectively employs an estimated 80,000+ people serving 135+ million customers.
Team
- Kunal Bahl - Co-Founder (also Co-Founder, Snapdeal)
- Rohit Bansal - Co-Founder (also Co-Founder, Snapdeal)
- Chetan Rana - CFO
- Aakriti Kakkar - VP, Corporate Development
- Aditi Jain - Associate, Financial Operations
- Supriya Gupta - Community & Social Media Manager
- Manik Pasricha - VP, Seed Team
- Utpal Sharma - VP, Seed Team
- Pramit Singhi - Associate, Seed Team
- Chiragh C - Investment Analyst, Seed Team
- Aditya J - Investment Analyst, Seed Team
- Geetansh Popli - Investment Analyst, Seed Team
- Shiv Kapoor - VP, Winners Fund
- Vrinda Gupta - Investment Analyst, Winners Fund
- Vatsal Singh - Investment Analyst, Winners Fund
Decision Process
Titan Capital operates as a founder-led partnership between Kunal Bahl and Rohit Bansal, supported by dedicated Seed and Winners Fund investment teams. Decisions move quickly, typically resolving within two meetings, consistent with a lean partnership-style process rather than a large investment committee.
Founder Preferences
The firm prioritizes passionate, deeply committed founders and treats the founding team as its top underwriting signal over market size or product maturity at the earliest stage. Its own founders' operating background (having built and scaled Snapdeal) informs a strong preference for hands-on operators.
Geographic Focus
Titan Capital invests almost exclusively in India-headquartered startups, with its office located in Gurugram, Haryana. Its portfolio and recent activity (Revspot, Nester, defence-tech vertical) are overwhelmingly India-focused.