Company lists · Data refreshed September 2026

Top 22 Lower middle market pe firms based in India

RevenueBase identified 51 lower middle market pe firms headquartered in India as of September 2026 and tracks 547 professional contacts across them, including 212 with verified work emails. Mumbai is the largest hub.

This list covers lower middle market pe firms headquartered in India, matched on what each company actually does as described in its own words. Ranked by team size, largest first. Every row shows the company's own description, its RevenueBase Smart Search rating, and when it was last checked. Data refreshed September 20, 2026.

Published by RevenueBase, a B2B data infrastructure company. This list was built with RevenueBase Smart Search, the natural-language company search RevenueBase customers use to build their own targeted lists and unlock verified emails and direct dials at the companies on them. How these lists are built and judged.

How to read this list HQ checked on every row RevenueBase Smart Search rating on every row Refreshed Sep 20, 2026 86% judged on-target in blind review
51Companies
547Contacts tracked
212Verified emails
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The 22 largest lower middle market pe firms based in India

Ranked by team size
Top 22 of 51 lower middle market pe firms based in India, ranked by team size, largest first. Data refreshed Sep 20, 2026. RevenueBase Smart Search rates how each company's information relates to lower middle market pe firms: strong evidence (its own description names it), partial (names part of it), indirect (matched on the rest of its profile rather than the description shown). Click a contact count to view that company's people.
#CompanyRevenueBase Smart SearchHeadquartersEmployeesContacts
1Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-5073 contacts →

Indirect evidence

“Kedaara Capital is an operationally oriented private equity firm pursuing control and minority investment opportunities in India.”

Source: RevenueBase Database · checked Sep 20, 2026
2Indirect evidenceBangalore, IndiaHQ checked Sep 20, 2026n/a69 contacts →

Indirect evidence

“Unique investment philosophy with focused investments in cash-generating businesses.”

Source: RevenueBase Database · checked Sep 20, 2026
3Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-5060 contacts →

Indirect evidence

“True North has spent 25 years partnering with conscious, high-performing businesses across India, guided by a single philosophy: “Doing things the right way.” In Private Equity…”

Source: RevenueBase Database · checked Sep 20, 2026
4Partial evidenceMumbai, IndiaHQ checked Sep 20, 202611-5050 contacts →

Partial evidence

“Gaja Capital is an India focused private equity firm that invests in mid-market companies in emerging sectors such as Education, Financial Services and Consumer.”

Source: RevenueBase Database · checked Sep 20, 2026
5Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-5023 contacts →

Indirect evidence

“Convergent is an investment partnership at the forefront of bringing together Ideas, Capital and passionate Entrepreneurs.”

Source: RevenueBase Database · checked Sep 20, 2026
6Indirect evidenceMumbai, IndiaHQ checked Sep 20, 20261-1022 contacts →

Indirect evidence

“India SME Investments is a private equity fund which focuses on investing in early-growth, small and medium-sized companies primarily based out of/operating in Tier 2/3 centers in…”

Source: RevenueBase Database · checked Sep 20, 2026
7Indirect evidenceBengaluru, IndiaHQ checked Sep 20, 202611-5020 contacts →

Indirect evidence

“Stakeboat Capital is a control / co-control oriented private equity firm, focused on small and medium companies.”

Source: RevenueBase Database · checked Sep 20, 2026
8Indirect evidenceNew Delhi, IndiaHQ checked Sep 20, 202611-5017 contacts →

Indirect evidence

“As an investment team with a rich background in operations and management we understand that the promoter needs to go beyond just growth capital.Our active involvement, by way of…”

Source: RevenueBase Database · checked Sep 20, 2026
9Partial evidenceMumbai, IndiaHQ checked Sep 20, 202611-5016 contacts →

Partial evidence

“Private equity firm focusing on the mid-market growth segment in India.”

Source: RevenueBase Database · checked Sep 20, 2026
10Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-5012 contacts →

Indirect evidence

“We are a team of passionate people looking to engage with innovative businesses, provide support in achieving scale, disruption and profitability, unearthing value leading to a…”

Source: RevenueBase Database · checked Sep 20, 2026
11Partial evidenceMumbai, IndiaHQ checked Sep 20, 20261-1011 contacts →

Partial evidence

“Amara Partners is a Mumbai-based mid-market private equity fund that invests in growth-stage companies across sectors such as manufacturing, consumer, financial services, and…”

Source: RevenueBase Database · checked Sep 20, 2026
12Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-508 contacts →

Indirect evidence

“Founded in 2008, BanyanTree Finance is the Manager of BanyanTree India Growth Capital Fund and an advisor to the Manager of BanyanTree Growth Capital I & II, Mauritius-based…”

Source: RevenueBase Database · checked Sep 20, 2026
13Indirect evidenceHal Airport Road, IndiaHQ checked Sep 20, 202611-507 contacts →

Indirect evidence

“Fonds Nikkel infuses growth capital in the form of management know how and funds into companies that have demonstrated great growth potential.”

Source: RevenueBase Database · checked Sep 20, 2026
14Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-506 contacts →

Indirect evidence

“Arpwood Partners is a buyout-focused private equity firm.”

Source: RevenueBase Database · checked Sep 20, 2026
15Indirect evidenceMumbai, IndiaHQ checked Sep 20, 20261-105 contacts →

Indirect evidence

“SeaLink Capital Partners is a Private Equity fund focused on high potential, mid-sized Indian companies in select industries.”

Source: RevenueBase Database · checked Sep 20, 2026
16Indirect evidenceNew Delhi, IndiaHQ checked Sep 20, 20261-104 contacts →

Indirect evidence

“Asian Healthcare Fund is a premier healthcare focused Private Equity Fund investing in entire spectrum of Healthcare.”

Source: RevenueBase Database · checked Sep 20, 2026
17Indirect evidenceMumbai, IndiaHQ checked Sep 20, 20261-103 contacts →

Indirect evidence

“Helix Investments is an India-focused private equity fund that provides growth capital to small and mid sized companies in India.”

Source: RevenueBase Database · checked Sep 20, 2026
18Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-502 contacts →

Indirect evidence

“Ambit Pragma Advisors LLP is an India-dedicated Private Equity fund that provides Growth Capital to Small & Medium Enterprises (SMEs).”

Source: RevenueBase Database · checked Sep 20, 2026
19Partial evidenceMumbai, IndiaHQ checked Sep 20, 20261-102 contacts →

Partial evidence

“Arth Capital is an India based mid-market, sector focused independent private equity firm.”

Source: RevenueBase Database · checked Sep 20, 2026
20Strong evidenceMumbai, IndiaHQ checked Sep 20, 202611-501 contacts →

Strong evidence

“Lighthouse Advisors India Private Limited is a leading middle market private equity advisory firm founded in 2006.”

Source: RevenueBase Database · checked Sep 20, 2026
21Indirect evidenceMumbai, IndiaHQ checked Sep 20, 202611-501 contacts →

Indirect evidence

“Oman India Joint Investment Fund Management Company Private Limited (“OIJIF-MC”), is a professionally managed firm in the business of managing Private Equity Funds focused on…”

Source: RevenueBase Database · checked Sep 20, 2026
22Indirect evidenceMumbai, IndiaHQ checked Sep 20, 20261-101 contacts →

Indirect evidence

“IndiaNivesh Fund Managers is a sector agnostic Private Equity Firm aimed at providing growth capital to Indian Small and medium enterprises.”

Source: RevenueBase Database · checked Sep 20, 2026

Showing 22 of 51 lower middle market pe firms based in India

See the full list, filter by size, metro and specialty, and get verified emails and direct dials for all 212 reachable decision-makers.

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Lower middle market pe firms based in India at a glance

As of Sep 20, 2026
38.8%Verified-email coverage
10.7Average contacts per company
11-50Median size (employees)
45.1%Largest-city concentration · Mumbai
Sep 20, 2026Page data refreshed

Companies by employee count

1-10
22
11-50
24
51-200
3
201-500
2

Email recency for this list is measured worldwide rather than for India, so it is reported there. Company counts and contact totals on this page are exact for India, over 51 companies.

How this list was built

Company categories are rarely black and white. RevenueBase reads each company's own description of its business to decide whether it belongs among lower middle market pe firms, so some rows will be adjacent to the category rather than pure plays. The description and RevenueBase Smart Search rating on every row are there so you can check each match yourself.

Source
The RevenueBase company graph: 60 million companies and 398.9 million professional contacts resolved from primary sources, queried with RevenueBase Smart Search, the natural-language company search available to every RevenueBase user.
What qualifies
Companies headquartered in India whose own description of what they do matches “lower middle market pe firms”. Matching reads each company's description, not its industry code or its name.
RevenueBase Smart Search
RevenueBase Smart Search is how this list is assembled and how each row is rated. RevenueBase's data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to a category defined in a user's own words. Each row is rated strong evidence (its own description names lower middle market pe firms), partial evidence (it names part of the category) or indirect evidence (the description shown names none of it and the match rests on the rest of the company's profile). The description supporting each rating is quoted on the row.
What we exclude
Companies whose own description does not clearly place them among lower middle market pe firms, and records with no verified work email. Companies headquartered outside India are excluded even when they keep an office there.
Match quality
In blind human judging of this matching method, 86% of matched companies were on target. Expect roughly 1 in 7 rows to be adjacent to the category rather than a pure play. Every row shows the company's own description and its RevenueBase Smart Search rating so you can judge each match yourself. Read the full methodology: how the lists are built, how the judging worked, and what the figure means.
Ranking
Team size, largest first: companies are ordered by the number of professionals RevenueBase tracks at each one. Employee ranges shown are reported bands, for context.
Verification
Every listed company carries at least one verified work email, 212 across the full list. Contacts re-verify on a rolling cadence, and each contact's own verification date is shown inside RevenueBase.
Refresh
This page's figures were pulled from the company graph on September 20, 2026. Lists refresh periodically as the graph is re-checked.
Corrections
Wrong category, wrong headquarters, or a company that has closed? Use “Report an issue” on any row. Reports go to the RevenueBase Data Team and feed back into the company graph.

Frequently asked

What is RevenueBase Smart Search?

RevenueBase Smart Search is how RevenueBase decides which companies belong on this list and how strongly each one fits. Its data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to the category the list is about. Each row is rated strong evidence when the company's own description names lower middle market pe firms, partial evidence when it names part of the category, and indirect evidence when the description shown names none of it and the match rests on the rest of the company's profile.

How many lower middle market pe firms are there based in India?

RevenueBase identified 51 lower middle market pe firms headquartered in India as of September 2026, matched on each company's own description of what it does rather than its industry code.

What is the largest company on this list?

Kedaara Capital, headquartered in Mumbai, tops this list with the largest team on record.

Which city has the most lower middle market pe firms?

Mumbai leads with 23 headquartered companies, followed by Bengaluru (3) and Bangalore (2).

How do I get contact information for these companies?

A free RevenueBase account lets you run this exact search and work the top results, verified emails and direct dials included. Upgrading unlocks all 212 verified decision-maker contacts tracked across these 51 companies.

How current is this list?

The list refreshes periodically as the company graph is re-checked. This page's figures were pulled on September 20, 2026.

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About this data

RevenueBase is a B2B data infrastructure company. Its company graph covers 60 million companies and 398.9 million professional contacts, with emails verified on a rolling cadence rather than scraped once and left to decay. These company lists are generated directly from that graph with RevenueBase Smart Search, the same natural-language company search every RevenueBase user has: describe a market in plain words, get the companies that match, and add verified emails and direct dials for the people at them. It is the same data that powers RevenueBase's B2B data products, and a free account includes 500 credits to start. How these lists are built and judged.