Seed to pre-Series A fund research profile
Pentathlon Ventures is a founder-led India seed investor backing B2B technology companies from early validation through pre-Series A. Its thesis is centered on enterprise AI transformation, fintech, healthtech, cybersecurity and manufacturing/logistics software, with founder-operator support and global scaling assistance.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Pentathlon Ventures uses a seed to pre-series a approach across B2B SaaS, enterprise AI, fintech, healthtech.
Current evidence
Pentathlon’s official news page records the final close of its second B2B-tech focused fund on 26 February 2026, an Intellithink seed round on 16 April 2026 and a SuperProcure investment on 4 November 2025. The current portfolio page labels Fund II companies including Avysh, Revspot, SuperProcure, AyushPay, Dista and Spyne.
Strategy
Seed to pre-Series A
Sector focus
B2B SaaS, enterprise AI, fintech, healthtech
AIF structure context
Indian venture capital and angel-fund strategies are commonly structured as Category I AIFs. Verify the specific vehicle and registration before investing.
Current signal
Pentathlon’s official news page records the final close of its second B2B-tech focused fund on 26 February 2026, an Intellithink seed round on 16 April 2026 and a SuperProcure investment on 4 November 2025. The current portfolio page labels Fund II companies including Avysh, Revspot, SuperProcure, AyushPay, Dista and Spyne.
Investor questions
Pentathlon Ventures is covered in Rupeia's venture capital research universe. The current public record describes the strategy as Seed to pre-Series A, with a sector focus of B2B SaaS, enterprise AI, fintech, healthtech. The profile should be read with the linked source trail and Typical route: Category I AIF context.
The profile displays only company or asset names attributable to Pentathlon Ventures in the reviewed public sources: Avysh, Customerglu, Doqfy, Dista, Sellergeni, Cleartrust, QuickReply.ai, Spyne, SaleAssist, DeepC, Rezolve.ai, Manch, Tripeur, Meest, Knorish, ShopSe, SuperPro.ai, Fable, ExtraaEdge, AyushPay, iTuring.ai, Riskcovry, SuperProcure, DeepTek. It does not represent a complete current portfolio unless the manager has published one.
The manager says Fund I made 23 investments, completed more than 10 follow-ons and distributed returns from an exit before the commitment period ended. The manager has not published an audited fund-level IRR or MOIC series. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Fund II: ₹450 crore announced corpus; the manager’s current news page records final close in February 2026. Fund I size and vehicle-level performance are not publicly disclosed.. Public terms or access information: Seed and pre-Series A B2B technology investments; the manager states a typical cheque range of $500,000–$1 million and a preference for companies with early customer validation. Carry and reserve terms are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Gireendra Kasmalkar (Managing Partner); Sandeep Chawda (Managing Partner); Madhukar Bhatia (Managing Partner); Ashok Mayya (Managing Partner, US); Navjeet Kumar (Principal); Saurabh Lahoti (Founding Partner). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review stage concentration, follow-on reserves, company failure rates, dilution, exit timing and the gap between paper valuations and realised distributions. The current open diligence point is: Fund-level net returns, fees and carry are not publicly disclosed; the manager reports one Fund I exit with returns distributed but does not publish an audited fund-level return series..
2026-04-16: Pentathlon’s official news page records the final close of its second B2B-tech focused fund on 26 February 2026, an Intellithink seed round on 16 April 2026 and a SuperProcure investment on 4 November 2025. The current portfolio page labels Fund II companies including Avysh, Revspot, SuperProcure, AyushPay, Dista and Spyne.
Next step
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