# HDFC Trustee

> HDFC Trustee is a VC fund backing Travel, Banking and Finance. See 4 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 4
- Last investment: Feb 2022
- Lead investor: 25%
- Last updated: Aug 2026
- Website: http://www.hdfcfund.com/aboutus/trustees

HDFC Trustee is a VC fund focused on Travel and Banking. HDFC Trustee Company Limited, a company incorporated under the Companies Act, 1956 is the Trustee to HDFC Mutual Fund vide the Trust deed dated June 8, 2000, as amended from time to time. HDFC Trustee Company Ltd is wholly owned subsidiary of HDFC.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Travel | 1 | 25% |
| Banking | 1 | 25% |
| Finance | 1 | 25% |
| Aerospace | 1 | 25% |
| Real Estate | 1 | 25% |

10 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Post-IPO Equity | 2 | 50% |
| Funding Round | 1 | 25% |
| Private Equity | 1 | 25% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Equitas Small Finance Bank | Equitas Small Finance Bank provides microfinance loans promoting financial inclusion through housing finance, vehicle finance, and MSE finance. It provides a new banking option for children, youth, families, and small businesses throughout India. They are also working to change the way banking is envisioned, delivered, and experienced. | $73.6M | Post-IPO Equity | Feb 19, 2022 |  |
| SpiceJet | SpiceJet is India’s preferred airline, with 18.5% market share in Indian domestic market, delivering the lowest air fares with the highest consumer value.The city of Agartala, Ahmedabad, Allahabad, Amritsar, Aurangabad, Bagdogra, Belgaum, Bengaluru, Bhopal, Chandigarh, Chennai, Coimbatore, Dehradun, Delhi, Goa, Guwahati, Hubli, Hyderabad,Indore, Jabalpur, Jaipur, Jammu, Kochi, Kolkata, Kozhikode, Lucknow, Madurai, Mangalore, Mumbai, Mysore, Nanded, Pondicherry, Port Blair, Pune, Rajahmundry, Srinagar, Surat, Thiruvananthapuram, Tiruchirapalli (Trichy), Tirupati, Tuticorin, Udaipur, Varanasi, Vijayawada, Visakhapatnam and 8 international destinations namely Dubai, Colombo, Guangzhou Kabul, Kathmandu, Malé, Riyadh and Sharjah are connected using our new generation fleet of 36 Boeing 737-800/ 900ER aircrafts which are of the highest standard in safety and operating efficiency along with our newly acquired 15 Bombardier Q400 aircraft for enhancing connectivity to Tier II and Tier III cities.SpiceJet MAX:When you are booking your ticket choose SpiceJet MAX and avail fabulous benefits:1) Priority Check-in2) Seat Selection3) Complimentary Meal4) Priority Baggage DeliverySpiceJet Holidays:With our holiday packages, you can customize your vacations according to your plans and add sightseeing excursions or a guided trek or any of our other optional add-ons in your itinerary |  | Post-IPO Equity | Mar 30, 2020 |  |
| HG Infra Engineering | H.G. Infra Engineering Limited (HGIEL) is certified construction company engaged primarily in execution of infrastructure sector projects like highways, roads & bridges. Military Engineering Services(MES). The company also executes other civil construction projects like extension & grading of runways, railways & land development. Thecompany has diversified into water pipeline projects also in last few years. HGIEL was founded on 8 June, 2017 (Erstwhile known as HGIEPL which was incorporated in 2003 by their founder promoter Mr. Hodal Singh who has more than 40 years of experience in the construction sector. They are registered as grade 'AA' Class contractor with PWD, Rajasthan & 'SS' Category with Military Engineering Services(MES). |  | Private Equity | Feb 26, 2018 |  |
| Sadbhav Infrastructure Projects | Sadbhav’s business currently focuses on Infrastructure projects which include Construction of Roads & Highways, Bridges, Irrigation supporting infrastructure and Mining. Today Sadbhav has successfully constructed more than 4200 Lane Kms. of Roads and Highways (both National and State Highways) while 3500 Lane Kms. are under various stages ofconstruction. Sadbhav has done work for/withhighly reputable clients like NHAI, Sardar Sarovar Narmada Nigam, Coal India, GIPCL, GHCL, L&T, HCC, Punj Lloyd etc. | $31M |  | Aug 31, 2015 |  |

4 of 4 investments shown.

## Co-investors
- [SBI Mutual Fund](https://shizune.co/investors/profile/sbimutualfund) — VC Fund, 3 deals together
- [Amansa Capital](https://shizune.co/investors/profile/amansa-holdings) — VC Fund, 1 deal together
- [DSP Blackrock](https://shizune.co/investors/profile/dsp-blackrock) — VC Fund, 1 deal together
- [DSP BlacRock India Tiger Fund](https://shizune.co/investors/profile/dsp-blacrock-india-tiger-fund) — VC Fund, 1 deal together
- Government of Singapore — VC Fund, 1 deal together
- [HDFC Mutual Fund](https://shizune.co/investors/profile/hdfc-mutual-fund) — VC Fund, 1 deal together

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- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund
- [KB Securities](https://shizune.co/investors/profile/kb-securities) — VC Fund
- [Frazier Healthcare Partners](https://shizune.co/investors/profile/frazier-healthcare-ventures) — VC Fund

## FAQ

### What does HDFC Trustee invest in?

HDFC Trustee invests primarily in Travel, Banking and Finance startups, most often at Post-IPO Equity and Funding Round stage. Most of the 4 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did HDFC Trustee last invest?

The most recent investment recorded for HDFC Trustee closed in Feb 2022. Shizune tracks 4 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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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