StopDownOpen the app

Funding · Financial Services

Dovetail Capital raises ₹100 crore in Series A round led by Elev8 Venture Partners

By ·

Date
Company
Dovetail Capital
What it does
asset-servicing firm
Kind
Funding
Amount
₹100 crore
Stage
Series A
Based in
Mumbai
Founded
2017
Sector
Financial Services

What they do

Dovetail Capital is an independent asset-servicing firm based in Mumbai, offering services like third-party fund management, fund administration, and…

What happened

The company raised ₹100 crore in a Series A round led by Elev8 Venture Partners, which includes a mix of primary and secondary capital

Why it matters

The funding will be used to expand Dovetail’s global presence and strengthen its technology-driven asset-servicing infrastructure

The details

  • Dovetail Capital raised ₹100 crore in a Series A round led by Elev8 Venture Partners.
  • The round includes a mix of primary and secondary capital, marking the company’s first institutional fundraise since its inception in 2017.
  • Dovetail Capital provides services such as third-party fund management (TPFM), fund administration, derivative clearing, investment advisory, and compliance management.
  • The company services assets worth over $4.5 billion and operates from Mumbai with a strong presence in GIFT City, India’s emerging international financial services hub.
  • It also maintains regulated entities in Mauritius, Dubai (DIFC), and Singapore to support global capital flows.
  • The firm is regulated by the International Financial Services Centres Authority (IFSCA), Securities and Exchange Board of India (SEBI), and Dubai Financial Services Authority (DFSA).
  • The investment will be used to expand Dovetail’s global business operations and scale its technology-driven asset-servicing infrastructure.

The bigger picture

  • India’s financial ecosystem has grown significantly, with mutual fund average assets under management (AAUM) reaching ₹83.5 trillion in May 2026.
  • The Alternative Investment Fund (AIF) sector’s total commitments grew 25% year-on-year to ₹16.9 trillion as of March 2026.
  • This growth has increased demand for independent, technology-led asset servicing platforms that can support complex institutional investment structures.

About the business

  • Dovetail Capital is an independent asset-servicing firm based in Mumbai, India.
  • It provides a range of services including third-party fund management (TPFM), fund administration, derivative clearing, investment advisory, and compliance management.
  • The company serves foreign portfolio investors, alternative investment funds, family offices, insurers, mutual funds, and algorithmic funds.
  • Dovetail operates from Mumbai and has a strong presence in GIFT City, India’s emerging international financial services hub.
  • It maintains regulated entities in Mauritius, Dubai (DIFC), and Singapore to support global capital flows.
  • The firm is regulated by the International Financial Services Centres Authority (IFSCA), Securities and Exchange Board of India (SEBI), and Dubai Financial Services Authority (DFSA).
  • Dovetail currently services assets worth over $4.5 billion.

What happens next

  • Dovetail Capital plans to use the fresh capital to expand its global business operations and scale its technology-driven asset-servicing infrastructure.
  • The company aims to strengthen its presence across international financial markets and support growing cross-border capital flows.

The deal

Type
funding

Investors

  • Elev8 Venture Partners (lead) — A growth-stage venture capital firm that invested in Dovetail Capital’s Series A round.

Founders

  • Dev Sampat, Co-Founder
  • Mahesh Shekdar, Co-Founder
  • Vivek Singhania, Co-Founder

About Dovetail Capital

Product
Third-party fund management (TPFM), fund administration, derivative clearing, investment advisory, and compliance checking services
Customers
Foreign portfolio investors (FPIs), alternative investment funds (AIFs), mutual funds, insurers, family offices, and algorithmic funds
How it makes money
Fee-based asset servicing providing infrastructure and compliance to institutional investors
What sets it apart
Regulated presence across GIFT City, Mauritius, Dubai (DIFC), and Singapore; regulated by IFSCA, SEBI, and DFSA

Other articles talking about it

Read it as a card in the app

Same day

All startup news on 1 July 2026 →