Bay Capital Partners Onboards Sandeep Barasia and Tej Kapoor as Partners (Ex-Naspers, Fosun) (Ex-Delhivery, Bain & Company)
FinTech BizNews Service
Mumbai, April 9, 2026: Bay Capital Partners, one of India’s established institutional investment managers with nearly two decades of investing across Indian public and private markets, today announced that industry veterans Sandeep Barasia and Tej Kapoor have joined the firm as Partners to launch a new growth crossover Fund focused on late-stage digital and technology companies in India.
Siddharth Mehta, CIO, and Founder of Bay Capital Partners
The firm is preparing to launch a Digital Opportunities Fund, a Category II Alternative Investment Fund designed to back high-quality, high-growth businesses and partnering closely with founders who are building enduring companies for India’s long-term digital future. The new fund will selectively invest across both private and public markets
Barasia and Kapoor will serve as Co-Founders and Partners of the fund, combining Bay Capital’s institutional investment heritage with world-class operational expertise and an unparalleled network across India’s digital founder community.
It reflects Bay Capital’s long-held conviction in the structural opportunity in India’s digital economy — a conviction borne out by a strong track record of investments in companies such as PolicyBazaar, Lenskart, CarTrade Tech, and Ixigo, among others. The India Digital Opportunities Fund is the natural next step in that journey: a dedicated vehicle to deepen Bay Capital’s engagement with the digital ecosystem at a pivotal moment in its evolution.
India’s digital economy is poised to exceed $1 trillion by 2030, driven by widespread internet adoption, digital payments infrastructure and a maturing startup ecosystem. With 700+ million internet users and digital consumption expanding rapidly beyond metros into Tier-2 and Tier-3 cities, the internet economy’s share of GDP is expected to rise from 4–5% today to nearly 12–13% by the end of the decade.
Commenting on the development, Siddharth Mehta, CIO, and Founder of Bay Capital Partners said, “I’m excited about Tej and Sandeep joining Bay Capital. Bay Capital has spent nearly two decades building deep expertise in Indian equities across cycles, sectors and the capital structure. We have had the privilege of backing transformational companies such as PolicyBazaar, Lenskart, CarTrade and Ixigo as they scaled into market leaders. That experience has strengthened our conviction in India’s digital economy. The India Digital Opportunities Fund reflects this conviction — a dedicated platform to back the next generation of exceptional founders. With Tej’s deep founder relationships and ecosystem insight, Sandeep’s rare blend of operational leadership and strategic perspective, and Bay Capital’s institutional investing platform, we believe we have assembled a highly capable team to capture this opportunity.”
Tej Kapoor, Co-Founder & Managing Partner, added, “I have spent my career at the intersection of global capital and India’s most exciting growth companies — first at Naspers and later at Fosun building the India investment platform. What I have consistently seen is that the best founders are not just looking for capital, but for partners who understand the journey and can add long-term value. Bay Capital’s track record and institutional credibility, combined with the relationships I have built across the founder community, create a genuinely unique platform to back India’s next wave of digital champions.”
Sandeep Barasia, Co-Founder & Managing Partner, said, “Having spent over 25 years advising and operating some of India’s most complex businesses — from building Bain’s India practice to serving as Chief Business Officer of Delhivery through its journey from a $20 million revenue startup to a near-billion-dollar public company — I understand what it truly takes to build and scale enduring businesses in India.
I am excited to bring that experience to bear as a value-added partner for the founders we back — whether in strategy, operations, business development, or navigating the public markets. Bay Capital provides the ideal platform to do so with rigour and integrity. Our focus will be to work closely with founders during this transition phase and support them through the next stage of value creation.”
