# Bay Capital

> Bay Capital is a VC fund in Mumbai backing Health Care and Solar. See 6 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Mumbai, India
- Total investments: 6
- Last investment: Feb 2026
- Lead investor: 17%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/baycapitalpartners/
- Website: http://bay-cap.com

Bay Capital is an independent investment management firm founded in 2006 by an experienced team of professionals focusing on themes that are direct beneficiaries of the India growth story.In 2012 we executed our first cross border investment and are now actively expanding our investment purview to other markets that offer promising investmentopportunities.Our investments are targeted at opportunities across asset classes with our current suite of investments straddling private equity, publicly traded equities and fixed income which are executed on a deal by deal basis.We adopt an opportunistic investing style while being sector agnostic and our investments typically originate from within our vast network of relationships globally.A highly accomplished Board with global experience and reach provides strategic insights to the management team.Our investment approach is highly relationship driven where we actively engage with like-minded investors and investee companies and work with them as long-term partners in creating value for all stakeholders.

## Contacts

5 contacts available for Bay Capital. Shizune tracks 3 team members at Bay Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/bay-capital?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 2 | 33% |
| Solar | 1 | 17% |
| Mobile | 1 | 17% |
| Travel | 1 | 17% |
| Eyewear | 1 | 17% |

24 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 1 | 17% |
| Series A | 1 | 17% |
| Series C | 1 | 17% |
| Series H | 1 | 17% |
| Private Equity | 1 | 17% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 5 | 83% |
| United States | 1 | 17% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Puneet Saraogi | Co-Founder & Managing Partner | 0 | https://shizune.co/investors/profile/puneet-saraogi |
| Randall Kutch | Managing Director | 0 | https://shizune.co/investors/profile/randall-kutch |
| Siddarth Mehta | Founder & CIO | 1 | https://shizune.co/investors/profile/siddarth-mehta |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| GREW Solar | GREW Solar is the company that focuses on advanced solar technology and manufacturing, with a three-stage backward integration technique for PV solar module manufacture. | $115.7M | Private Equity | Feb 13, 2026 |  |
| PB Healthcare Services | PB Healthcare Services is a healthcare platform that provides both services and insurance. It is formed by PB Fintech Limited. | $218M | Seed | May 08, 2025 |  |
| Lenskart | Lenskart, the first of its kind online optical store in India, has made it possible to acquire a good quality pair of specs with prescription lenses for just Rs. 399. With a 48-hour free home delivery guarantee and 365 days return policy, Lenskart.com is doing what e-commerce hasn’t been able to do in India yet.The website has over 500 designs ofeye frames, in multiple colors, for all age groups, from Rs. 399 all the way to Rs. 4,000 for a pair. All one needs to do is select a frame, fill in their power, and place an order. You can pay online or at the time of delivery.Lenskart.com has the biggest collection of discounted contact lenses consisting of all top-notch brands (viz. Johnson & Johnson, Bausch & Lomb, Ciba Vision to name a few) and be it disposable, toric, colored, or bifocal contact lenses, you can find all possible types here. Lenskart is dedicated to providing its customers with a simple, hassle-free way to replace their contact lenses. One can receive the exact same contact lens, their doctor prescribed, delivered to their door, at a great price. | $220M | Series H | Jul 19, 2021 |  |
| ixigo | ixigo is an intelligent, AI-based travel app with over 150 million users. ixigo allows Indian travelers to organize, book, and track trips from 120+ travel suppliers and OTAs across flights, trains, hotels, buses and cabs. ixigo’s vision is to empower travelers with trustworthy and personalized travel recommendations. ixigo is the fastest growingand most trusted travel app in the market. ixigo trains app has become the world’s 6th most downloaded travel app on the Google Play store as per analytics platform SensorTower’s 2018 report. It is also the 2nd most downloaded travel app in India. The company has played a pioneering role in launching innovative products in the travel space driven by AI, Voice, and ML. Over the past few years, ixigo has won an impressive string of awards and accolades including the Phocuswright people's choice award for their multi-lingual AI-driven voice-based travel assistant - TARA, and the best UI/UX award for ixigo flights app at Google India App Summit in 2018. | $53M | Series C | Jul 16, 2021 |  |
| PolicyBazaar | PolicyBazaar designs an online life insurance and general insurance comparison portal that analyzes financial products. Its insurance comparison portal and mobile application provide information across products such as medical, term life, travel or motor insurance, low prices ULIPS, and other investment products, enabling consumers to compare andanalyze financial products.Users can compare different insurance plans based on parameters such as coverage, premium, benefits, and exclusions. The platform provides information about various insurance products and helps users make informed decisions about their insurance needs. Policybazaar also offers tools and calculators to help users estimate their insurance requirements and premiums. | $45M | Secondary Market | Mar 03, 2021 |  |
| SiteOne Therapeutics | SiteOne Therapeutics is a San Francisco-based company that develops novel therapeutics and diagnostics. They develop products safely, effectively, and efficiently treat acute and chronic pain without the limitations of existing therapies, such as NSAIDs and opioids. Their lead therapeutic candidates are highly selective inhibitors of avoltage-gated sodium ion channel, Naᵥ1.7, which plays a critical role in the generation and conduction of pain signals. | $1.5M | Series A | Sep 24, 2014 |  |

6 of 6 investments shown.

## Co-investors
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund, 5 deals together
- [Alpha Wave Global](https://shizune.co/investors/profile/alpha-wave-global) — VC Fund, 2 deals together
- [Avataar Venture Partners](https://shizune.co/investors/profile/avataar-venture-partners) — VC Fund, 1 deal together
- [BioBrit](https://shizune.co/investors/profile/biobrit-llc) — VC Fund, 1 deal together
- [Cyrus Poonawalla Group](https://shizune.co/investors/profile/cyrus-poonawalla-group) — VC Fund, 1 deal together
- [Faering Capital](https://shizune.co/investors/profile/faering-capital) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does Bay Capital invest in?

Bay Capital invests primarily in Health Care, Solar and Mobile startups, most often at Seed and Series A stage. Most of the 6 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Bay Capital?

Public channels for Bay Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Bay Capital?

The team at Bay Capital includes Puneet Saraogi (Co-Founder & Managing Partner), Randall Kutch (Managing Director) and Siddarth Mehta (Founder & CIO). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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