Nikhil Kamath

Co-Founder, Gruhas; Founder, WTFund; Co-Founder, Zerodha at gruhas

Reviewed Updated Jun 5, 2026

This profile is AI-generated. If you spot an error, please help us fix it by sharing a URL to the correct information.

Location Bengaluru, India
Check Size $250K-$2M (Gruhas: $1-2M at Pre-Series A/Series A; WTFund: ~₹20 lakh non-dilutive grants)
Last Verified Investment Rotoris (Seed) — Dec 15, 2025
Social @nikhilkamathcio
Stage Focus
pre-seed seed series-a
Sector Focus
proptech climate-tech consumer ai healthtech creator-economy fintech sustainability

Background

Nikhil Kamath is a Bengaluru-based entrepreneur and angel investor best known as the co-founder of Zerodha, India’s largest retail stock brokerage by client base 1. He started as a sub-broker in 2006 with his older brother Nithin under the name Kamath & Associates, and the two co-founded Zerodha in 2010 to introduce a discount brokerage model to the Indian market 1.

Outside Zerodha, Kamath has built a portfolio of investing vehicles. He co-founded True Beacon, an alternative-investment manager for ultra-high-net-worth clients, in 2020 1. In 2021 he co-founded Gruhas with Abhijeet Pai, a venture firm focused on PropTech, climate tech, AI, and consumer; Gruhas describes itself as having backed 50+ companies and is registered with SEBI as a Category II AIF (Gruhas Proptech Opportunities Fund) 21. In March 2025, Gruhas and Brigade Enterprises announced the Earth Fund, a ₹300 crore vehicle (₹200 crore base plus a ₹100 crore green-shoe) targeting Pre-Series A and Series A PropTech and sustainability startups with $1–2M checks 34. Kamath also launched WTFund in April 2024 — described as India’s first non-equity grant fund — providing up to ₹20 lakh grants plus mentorship to founders aged 25 and under 567.

In March 2024 Kamath launched the “WTF is” podcast (later “People by WTF”), which has hosted Bill Gates, Prime Minister Narendra Modi, Vinod Khosla, Nandan Nilekani, Kumar Birla, Kiran Mazumdar-Shaw, and Aravind Srinivas, among others 18. He signed the Giving Pledge in 2023, becoming the youngest Indian signatory; in his pledge letter he named climate change, energy, education, and health as priority areas 91. Forbes pegged his net worth at $3.3 billion as of December 2025 1.

Stated Thesis

Kamath publicly frames Gruhas’s investment approach around four sectors — climate tech and sustainability, “built world tech” (real estate, infrastructure, construction robotics), AI, and “media and consumption” (next-generation consumer brands and content) — investing from seed through growth 2.

For WTFund, the stated thesis is “access, not equity”: providing non-dilutive grants plus a 100+ operator-mentor network to founders under 25, with explicit emphasis on reaching founders outside metropolitan India. The 2025 second-cohort call drew applications from 50+ cities across tiers 675.

Kamath has publicly stated that the most useful thing he can offer founders is network access rather than capital: he has said access to networks is “often harder and arguably more important” than capital and that his role is to help “establish connections that can help a founder skip a few unnecessary mistakes” 10.

Inferred Thesis

The portfolio table below covers 18 verified investments — a fraction of his ~150+ claimed angel deals plus Gruhas’s 50+ companies and WTFund’s two cohorts of 24 startups 112. Sample is too small for precise percentages; the analysis below is qualitative, grounded in counted patterns within those 18 entries.

Three distinct vehicles, three distinct theses. Unusually for an Indian angel/GP at this scale, Kamath operates through three legally and thematically separate vehicles:

  • Gruhas (direct/fund) — concentrated in the “built world”: PropTech (Strata, Basic Home Loans, Quorum), climate/clean energy (SolarSquare, Ossus Biorenewables), and consumer at growth scale (Rare Rabbit, Bummer, VRO Hospitality) 2121314. Six of 18 verified investments (33%) sit in PropTech, climate, or built-world categories — directly aligned with stated thesis.
  • WTFund (non-dilutive grants) — pre-product/pre-seed founders under 25. Cohort 1 (Sept 2024) and Cohort 2 (Feb 2025) span deep tech, healthtech, AgriTech, AI safety/fraud, and frontier sectors like solid-state hydrogen storage and neuroacoustic wearables 57. This is explicitly a philanthropic/discovery vehicle, not a returns vehicle (no equity taken).
  • Personal angel checks — broad and consumer-flavored: specialty coffee (Subko, Third Wave), spirits (D’YAVOL), creator-economy (Kofluence, Nas Academy, GrowthSchool, Collective Artists Network), fintech (InCred), women’s wellness (PeeSafe), and gaming (Nazara) 15.

Consumer/creator-economy concentration in personal checks. Of the 18 verified deals, 7 (~39%) are consumer brands or creator/influencer infrastructure. This is meaningfully heavier than what the Gruhas stated thesis suggests — Kamath’s personal cheques skew consumer/lifestyle while Gruhas’s stated focus is climate and built world.

Lead-or-major-stake behavior. Where data is available, Kamath frequently leads or anchors rounds: he led Subko’s $10M round 16, became the largest external stakeholder in Bummer (17.3%) 17, and led the InCred ₹250 crore minority round per press 15. He is more often a lead/co-lead than a passive check-writer.

Co-investor patterns. Recurring co-investors include Zerodha (treasury) and Gruhas itself co-investing alongside Lowercarbon Capital, Good Capital, Blume Founders Fund, the Gauri Khan Family Trust, and high-profile celebrity capital (John Abraham, Aryan Khan/Shah Rukh Khan via D’YAVOL) 121618.

Geography. Almost exclusively India-headquartered companies, with the one cross-border exception being Nasadya/H2ive (Palo Alto) in WTFund Cohort 2 7.

Notable gap vs. stated thesis. Gruhas materials emphasize AI as a pillar, but verified AI-specific investments in the surfaced portfolio are concentrated in WTFund (Ai.gnosis, Modus AI, Bytes) rather than in growth-stage Gruhas direct deals 7. AI exposure is real but currently early-stage and grant-funded rather than priced equity.

Portfolio

Company Year Stage Vehicle Source
SolarSquare 2023 Series B Gruhas + Zerodha 12
Subko Coffee Roasters 2024-03 Growth (led $10M) Personal/angel 16
Rare Rabbit 2024 Growth (₹500 Cr round, co-participant ~₹150 Cr w/ Modi family office) Personal 13
Bummer 2025 Growth (became largest external stakeholder, 17.3%) Gruhas 17
Strata ~2021 (founding-year proxy) Gruhas portfolio Gruhas 2
Ossus Biorenewables ~2017 (founding-year proxy) Gruhas portfolio Gruhas 2
Basic Home Loans ~2020 (founding-year proxy) Gruhas portfolio Gruhas 2
Quorum ~2018 (founding-year proxy) Gruhas portfolio Gruhas 2
One Percent Club ~2021 (founding-year proxy) Gruhas portfolio Gruhas 2
VRO Hospitality ~2017 (founding-year proxy) Gruhas portfolio Gruhas 2
Emoha ~2019 (founding-year proxy) Gruhas portfolio Gruhas 2
Licious pre-2022 Angel Personal 11
Third Wave Coffee pre-2024 Angel Personal 15
D’YAVOL Spirits pre-2024 Angel Personal 15
InCred Holdings pre-2024 Minority (₹250 Cr) Personal 15
Nazara Technologies pre-2024 Public equity Personal 15
Rotoris 2025-12-15 Seed Angel 11
WTFund Cohort 1 (15 startups incl. Pamawel, Mars, Oh! Nuts, Pawsible Foods, RNT Health Insights, Biocompute, CallPrep, Urban Animal, Pixa AI) 2024-09-04 Pre-seed grant (₹20 lakh each, non-dilutive) WTFund 195
WTFund Cohort 2 (9 startups: Ai.gnosis, Armatrix, Bytes, Drnk, InnerGize, Nasadya/H2ive, Neoperk, ReferRush, Modus AI) 2025-02-14 Pre-seed grant (₹20 lakh each, non-dilutive) WTFund 7

Note: This table represents ~12% of the 150+ investments Kamath has publicly claimed 11. The Gruhas website lists “50+ companies backed” but does not publish a full portfolio; entries above are drawn from press releases, the firm’s spotlight page, and contemporaneous funding announcements.

In Their Own Words

“As a young philanthropist committed to positively impacting the world, I am humbled and excited to join the Giving Pledge. The mission of creating a more equitable society aligns with my values and aspirations. I am particularly interested in contributing to areas such as climate change, energy, education, and health.”

— Nikhil Kamath, Giving Pledge letter, 2023 9

“More than just capital, founders need a launchpad—access to mentorship, networks, and the freedom to execute big ideas. With Cohort 2, we’re backing founders who aren’t just dreaming of change but are actually building it.”

— Nikhil Kamath, on WTFund’s second cohort, February 2025 7

“We’re committed to building an India that isn’t afraid to take risks… Feel like you aren’t doing enough? Screw the regular job. Start something.”

— Nikhil Kamath, WTFund Summit, Mumbai, September 4, 2024 19

“The secret to staying ahead in business lies not in corporate strategy or generational wisdom but in watching what 16-year-olds of the country are doing. Look at what a 16-year-old boy wants and what he will need in the next 10 years.”

— Nikhil Kamath, January 2025 interview 20

Kamath has also stated publicly that access to networks is “often harder and arguably more important” than capital, and that his goal with WTFund is to help founders “skip a few unnecessary mistakes” 10.

On the partnership rationale for Gruhas’s Earth Fund, co-founder Abhijeet Pai (not Kamath himself) said: “By bridging traditional real estate with emerging technologies, we’re accelerating ventures that redefine urban spaces, construction, and resource efficiency.” 4

What Founders Say

No independently sourced founder testimonials about working with Nikhil Kamath were located during this research pass. Coverage of his investments is largely transactional (round announcements, valuation data) rather than founder-experience reporting. Several of his portfolio founders have appeared as guests on his “WTF is”/”People by WTF” podcast (Aprameya Radhakrishna, Ananth Narayanan, Mukesh Bansal), but those conversations are not testimonials about the investor relationship.

Sources

  1. Wikipedia, “Nikhil Kamath,” accessed June 2026. https://en.wikipedia.org/wiki/Nikhil_Kamath↩↩↩↩↩↩↩

  2. Gruhas, official firm website (homepage and portfolio spotlight), accessed June 2026. https://www.gruhas.com/↩↩↩↩↩↩↩↩↩↩↩

  3. Business World, “Brigade, Nikhil Kamath’s Gruhas Launch Rs 300 Cr Fund To Back PropTech, Sustainability Startups,” accessed June 2026. https://www.businessworld.in/article/brigade-nikhil-kamaths-gruhas-launch-rs-300-cr-fund-to-back-proptech-sustainability-startups-55103↩

  4. Inc42, “Gruhas, Brigade Group Launch Fund Valued At INR 300 Cr,” accessed June 2026. https://inc42.com/buzz/gruhas-brigade-group-launch-fund-to-back-proptech-sustainability-focused-startups/↩↩

  5. Entrackr, “Nikhil Kamath launches WTFund for entrepreneurs under 25,” April 2024. https://entrackr.com/2024/04/nikhil-kamath-launches-wtfund-for-entrepreneurs-under-25/↩↩↩↩

  6. Business Standard, “WTFund: Nikhil Kamath launches Rs 20 lakh grant for young entrepreneurs,” April 15, 2024. https://www.business-standard.com/finance/personal-finance/wtfund-nikhil-kamath-launches-rs-20-lakh-grant-for-young-entrepreneurs-124041500338_1.html↩↩

  7. Inc42, “Meet 9 Startups Part Of Nikhil Kamath-Led WTFund’s 2nd Cohort,” February 14, 2025. https://inc42.com/buzz/meet-9-startups-part-of-nikhil-kamath-led-wtfunds-2nd-cohort/↩↩↩↩↩↩↩

  8. Spotify, “People by WTF” podcast (with Bill Gates Ep. 1 and Ep. 8), accessed June 2026. https://open.spotify.com/show/435Ybgmr5x92krW0jCl3cC↩

  9. The Giving Pledge, “Nikhil Kamath” pledger page (full letter, signed 2023), accessed June 2026. https://www.givingpledge.org/pledger/nikhil-kamath/↩↩

  10. World Economic Forum, “Access not equity: Nikhil Kamath on democratizing opportunity for young entrepreneurs,” June 2025. https://www.weforum.org/stories/2025/06/access-not-equity-nikhil-kamath-on-democratizing-opportunity-for-young-entrepreneurs/↩↩

  11. Tracxn, “Nikhil Kamath — Portfolio & Founded Companies,” accessed June 2026. https://tracxn.com/d/people/nikhil-kamath/__kfpwSbbACTsKF9qc3WWKCIV6Jg5cVpOKmAe5WyHixwo↩↩↩↩

  12. Indian Startup Times, “SolarSquare Secures Fresh Funds from Zerodha, Gruhas, and Others for Solar Expansion,” accessed June 2026. https://www.indianstartuptimes.com/news/solarsquare-secures-fresh-funds-from-zerodha-gruhas-and-others-for-solar-expansion/↩↩↩

  13. Apparel Resources, “Nikhil Kamath, Zerodha co-founder, participates in a Rs. 500 crore investment in Rare Rabbit,” accessed June 2026. https://apparelresources.com/business-news/retail/nikhil-kamath-zerodha-co-founder-participates-rs-500-crore-investment-rare-rabbit/↩↩

  14. Smallcase, “Nikhil Kamath’s Portfolio and Stock Holdings in 2026,” accessed June 2026. https://www.smallcase.com/star-investors/nikhil-kamath-portfolio/↩

  15. Storyboard18, “Brewing coffee, bottling spirits, backing creators: The many faces of Nikhil Kamath’s high-profile investments,” accessed June 2026. https://www.storyboard18.com/brand-makers/brewing-coffee-bottling-spirits-backing-creators-the-many-faces-of-nikhil-kamaths-high-profile-investments-78855.htm↩↩↩↩↩↩

  16. Business Today, “Zerodha’s Nikhil Kamath, Gauri Khan, John Abraham invest $10 million in specialty coffee startup Subko Coffee Roasters,” March 26, 2024. https://www.businesstoday.in/technology/news/story/zerodhas-nikhil-kamath-gauri-khan-john-abraham-invest-10-million-in-specialty-coffee-startup-subko-coffee-roasters-422921-2024-03-2↩↩↩

  17. InvestKraft, “Nikhil Kamath Net Worth 2026, Portfolio, Zerodha, Investments & Financial Views” (Bummer 17.3% stake), accessed June 2026. https://www.investkraft.com/blog/nikhil-kamath↩↩

  18. Outlook Business, “Nikhil Kamath, Gauri Khan Family Trust, And Others Lead $10 Million Investment in Coffee Specialty Brand Subko,” accessed June 2026. https://www.outlookbusiness.com/companies/nikhil-kamath-gauri-khan-family-trust-and-others-lead-10-million-investment-in-coffee-specialty-brand-subko↩

  19. Business Today, “‘We’re committed to building an India that isn’t afraid of risks’: Nikhil Kamath unveils Innovators Under 25 at WTF Summit,” September 5, 2024. https://www.businesstoday.in/tech-today/news/story/were-committed-to-building-an-india-that-isnt-afraid-of-risks-nikhil-kamath-unveils-innovators-under-25-at-wtf-summit-444595-2024-09-05↩↩

  20. Business Today, “‘Don’t turn to previous generation…’: Zerodha’s Nikhil Kamath shares the secret to future proofing your business,” January 3, 2025. https://www.businesstoday.in/latest/corporate/story/dont-turn-to-previous-generation-zerodhas-nikhil-kamath-shares-the-secret-to-future-proofing-your-business-459417-2025-01-03↩