Bay Capital has announced plans to launch a new Digital Opportunities Fund aimed at backing both public and private companies in the digital space. The firm has appointed Sandeep Barasia, former Delhivery chief business officer, and Tej Kapoor of ICICI Venture as cofounders and partners, according to an Entrackr report published on April 9, 2026.
Fund Structure and Investment Approach
The Digital Opportunities Fund is structured as a Category II Alternative Investment Fund. Bay Capital describes the fund as designed to support high-quality, high-growth businesses and states it will “partner closely with founders” building companies for India’s “long-term digital future,” according to the firm’s press release as reported by Entrackr.
The fund will take a selective approach across private and public markets. This dual-market strategy allows Bay Capital to participate across different stages of a company’s lifecycle—from early-stage product development and scaling operations to later-stage liquidity events. Each stage typically requires different capital structures and risk profiles.
Leadership Appointments and Relevant Experience
Bay Capital’s leadership appointments connect the fund’s digital focus to operator and investor experience. Sandeep Barasia and Tej Kapoor serve as cofounders and partners. According to Entrackr, Bay Capital described the pair as bringing “institutional investment experience, operational expertise, and a strong network across India’s digital founder ecosystem,” citing the firm’s press release.
Barasia’s career timeline shows he left Delhivery in May 2024 after more than nine years with the logistics company. He joined Bay Capital as an advisor in February 2025, according to Entrackr. His logistics background is relevant to digital investing, as logistics and supply-chain technology often intersect with software platforms, data systems, and operational execution.
Tej Kapoor is identified as being from ICICI Venture. The source does not provide additional details about his specific role or portfolio history within ICICI Venture.
Previous Investments and Track Record
Bay Capital has previously backed several companies in the digital space. Entrackr notes that the firm has invested in Lenskart, Ixigo, CarTrade Tech, and PolicyBazaar. These investments span sectors where digital platforms connect customers with services—ranging from consumer retail to travel and insurance.
Long-Term Investment Horizon
Bay Capital states that it believes India is “well positioned for strong economic growth and attractive investment returns for long-term investors.” The firm advocates a 5–7-year investment horizon, stating that this timeframe can “reduce risk” and enhance “compounding returns,” according to Entrackr’s reporting of the firm’s position.
A 5–7-year view aligns with the typical timeline for software and platform businesses to move from early traction to sustained growth, particularly when they require ongoing investment in product iteration, infrastructure, and market expansion. However, the source does not provide specific performance targets, investment criteria, or detailed metrics defining “high-quality” and “high-growth” beyond the fund’s general description.
Bay Capital’s emphasis on partnering with founders building “enduring companies” for India’s “long-term digital future” indicates the firm positions itself as a long-term stakeholder in technology-led businesses. The source does not specify what “partner closely” entails in practice, such as board roles, operational support, or technical guidance.
Source: Entrackr : Latest Posts