Bay Capital

Bay Capital Partners Ltd is a private equity firm founded in 2006 and based in Ebene, Mauritius. The firm specializes in buyouts and makes investments across various asset classes, including publicly traded equities and fixed income. Bay Capital takes an opportunistic and sector-agnostic approach, typically preferring to acquire majority stakes in small to medium-sized enterprises. The firm actively seeks investment opportunities that benefit from the growth of the Indian economy, while also expanding its reach to other promising markets. Its investment strategy is driven by a relationship-oriented approach, leveraging a vast network of global connections to identify and execute deal-by-deal investments. The management team is supported by a highly experienced board that provides strategic insights, fostering long-term partnerships with investors and portfolio companies to create value for all stakeholders.

Nikunj Doshi

Managing Partner

Ritwick Ghoshal

Managing Partner and CEO

Rahul Jha

Principal

Nishad Karkare

Partner

Prachi Kodikal

Partner

Devang Mehta

Principal

Siddarth Mehta

Founder and CIO

Ravi Srivastava

Partner and Head of Research

11 past transactions

Lenskart

Series H in 2021
Lenskart is an innovative online optical store in India that offers a wide range of eyewear, including prescription glasses, branded contact lenses, sunglasses, and accessories. Customers can choose from over 500 designs of eyeglass frames, with prices ranging from Rs. 399 to Rs. 4,000. The platform provides a user-friendly experience, allowing customers to select a frame, input their prescription details, and place an order easily. Lenskart ensures a hassle-free shopping experience with a 48-hour free home delivery guarantee and a 365-day return policy. Additionally, it boasts a comprehensive collection of discounted contact lenses from top brands, catering to various needs, including disposable, toric, colored, and bifocal options. By focusing on convenience and affordability, Lenskart aims to transform the eyewear shopping experience for its customers.

ixigo

Series C in 2021
ixigo is an AI-based travel app founded in 2007 by Aloke Bajpai and Rajnish Kumar, catering to over 150 million users in India. The platform enables travellers to organise, book, and track their trips through a network of more than 120 travel suppliers and online travel agencies, covering flights, trains, hotels, buses, and cabs. ixigo aims to provide trustworthy and personalised travel recommendations. It has gained recognition as one of the fastest-growing travel apps, ranking as the second most downloaded in India and the sixth globally on the Google Play Store as of 2018. The company has been at the forefront of innovation in the travel sector, leveraging advancements in AI, voice technology, and machine learning. ixigo has received multiple accolades, including the Phocuswright people's choice award for its AI-driven voice-based travel assistant, TARA, and the best UI/UX award for its flights app at the Google India App Summit in 2018.

PolicyBazaar

Secondary Market in 2021
PolicyBazaar Insurance Brokers Private Limited is an online platform based in Gurugram, India, that offers a range of insurance services, including life, health, car, two-wheeler, travel, and home insurance. Founded in 2014, the company provides a comparison portal and mobile application that enable users to analyze and compare various insurance products based on coverage, premiums, benefits, and exclusions. By doing so, PolicyBazaar helps consumers make informed decisions regarding their insurance needs. The platform also includes tools and calculators to assist users in estimating their insurance requirements. With a focus on creating awareness about financial impacts related to death, disease, and damage, PolicyBazaar generates the majority of its revenue from its insurance services segment, which includes insurance broker services.

SAMCO Securities

Series B in 2018
SAMCO Securities Limited is an online brokerage firm based in Mumbai, India, offering comprehensive trading services in stocks, commodities, currencies, exchange-traded funds, bonds, and non-convertible debentures listed on Indian exchanges. Founded in 1993 and previously known as Samruddhi Stock Brokers Limited, the company aims to simplify trading and investing for its clients by providing advanced trading platforms that leverage artificial intelligence and analytics for better decision-making. SAMCO is committed to addressing challenges in the trading industry by offering unique margin products at affordable costs, thereby promoting low-cost access to capital markets for all Indians. SAMCO Securities operates as a subsidiary of Samruddhi Finstock Pvt Ltd.

WorldAPP

Private Equity Round in 2017
WorldAPP, Inc. is a Software-as-a-Service company specializing in web-based data collection and business process solutions. Established in 2002 and headquartered in Braintree, Massachusetts, with additional offices in the United Kingdom, WorldAPP provides a range of tools designed to help organizations effectively manage and utilize data. Its offerings include Key Survey for data collection and analysis, Extreme Form for extending form-based processes, Form.com for business process management, and IDEAS for integrated data engineering. The company also offers WorldAPP 360, a feedback survey solution. These products can be delivered through either on-demand (SaaS) or on-premise models, catering to various industries such as finance, manufacturing, retail, education, healthcare, and market research. WorldAPP is recognized as a trusted technology partner, focusing on flexible and modular solutions to meet the diverse needs of enterprises worldwide.

SiteOne Therapeutics

Series A in 2014
SiteOne Therapeutics is a San Francisco-based company focused on developing innovative therapeutics and diagnostics for the treatment of acute and chronic pain. The company aims to address the limitations of existing pain management therapies, such as non-steroidal anti-inflammatory drugs (NSAIDs) and opioids, by creating safer and more effective alternatives. Their lead candidates are highly selective inhibitors of the voltage-gated sodium ion channel Naᵥ1.7, which is crucial in the generation and conduction of pain signals. By targeting this channel, SiteOne Therapeutics seeks to provide healthcare professionals with advanced treatment options for neuropathic pain, ultimately improving patient outcomes and efficiency in pain management.

AntFarm

Series A in 2014
AntFarm specializes in identifying disruptive business opportunities and nurturing successful companies through collaboration and knowledge sharing. With a focus on accelerating early-stage company building, AntFarm leverages its expertise, resources, and experienced team to drive growth in leading consumer verticals. Through an intensive hands-on approach, AntFarm aims to disrupt markets and create innovative solutions for the future.

WorldAPP

Debt Financing in 2014
WorldAPP, Inc. is a Software-as-a-Service company specializing in web-based data collection and business process solutions. Established in 2002 and headquartered in Braintree, Massachusetts, with additional offices in the United Kingdom, WorldAPP provides a range of tools designed to help organizations effectively manage and utilize data. Its offerings include Key Survey for data collection and analysis, Extreme Form for extending form-based processes, Form.com for business process management, and IDEAS for integrated data engineering. The company also offers WorldAPP 360, a feedback survey solution. These products can be delivered through either on-demand (SaaS) or on-premise models, catering to various industries such as finance, manufacturing, retail, education, healthcare, and market research. WorldAPP is recognized as a trusted technology partner, focusing on flexible and modular solutions to meet the diverse needs of enterprises worldwide.

V12 Data

Private Equity Round in 2014
V12 Data is a comprehensive data management and business intelligence company that specializes in providing integrated omnichannel data solutions across various industries, including automotive, retail, restaurants, travel, and finance. By leveraging a combination of rich data assets and advanced technology, V12 Data enables brands to achieve a unified view of their customers, facilitating personalized marketing efforts across multiple channels. The company offers a range of data quality software solutions that assist organizations in identifying, cleansing, standardizing, and analyzing customer information. Their platform supports the creation of centralized marketing data repositories, allowing businesses to effectively manage customer records and execute targeted marketing campaigns. Additionally, V12 Data's services empower clients to perform intelligent analyses of their data, enabling segmentation and optimization of marketing strategies to enhance revenue and maximize the return on investment.

InterAct Public Safety Systems

Debt Financing in 2013
InterAct Public Safety Systems, established in 1975, specializes in providing advanced software solutions for public safety incident response and management. The company equips first responders with tools to coordinate, communicate, and react swiftly and accurately during emergencies, enabling them to save lives effectively. InterAct's offerings include integrated multi-agency, multi-jurisdictional systems tailored for public safety, corporate security, and homeland security sectors. With over 1,450 clients across 44 states and three continents, including city, county, state, federal agencies, and private institutions like universities and hospitals, InterAct's solutions are renowned for their ease of use and comprehensive features. The company's success is reflected in its high client satisfaction and retention rates, driven by a commitment to continuous product development and improvement to meet evolving communication infrastructure demands and security requirements.

Intac International

Venture Round in 2012
Intac International, LLC, founded in 1988 and headquartered in Woburn, Massachusetts, specializes in providing software solutions for HVAC, plumbing, electrical, and field service contractors. The company is best known for its Wintac software, an all-in-one business management solution designed for field service, installation, and construction companies across various sectors, including commercial, residential, and industrial markets. Wintac streamlines operations by offering features such as scheduling, dispatching, work order management, customer and lead management, accounting, and inventory management. With a user base of over 8,000 companies and more than 60,000 users, Intac International has built a reputation for delivering high-quality software and support at competitive prices. The company is committed to continually enhancing its offerings, ensuring that its clients remain at the forefront of the industry.
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