Independent asset servicing firm Dovetail Capital has raised Rs 100 crore in a mix of primary and secondary funding in a Series A round led by Elev8 Venture Partners. The proceeds will be used to expand its global business, Dovetail Capital said in a press release. Co-founded in 2017 by Dev Sampat, Mahesh Shekdar, and Vivek Singhania, Dovetail Capital is an independent asset servicing firm that provides third party fund management (TPFM), fund administration, derivative clearing, investment advisory, and compliance services to foreign portfolio investors, alternative investment funds, family offices, insurers, mutual funds, and algorithmic funds. Headquartered in Mumbai, the firm has a presence in GIFT City and regulated entities in Mauritius, Dubai (DIFC), and Singapore. It is regulated by the International Financial Services Centres Authority (IFSCA), the Securities and Exchange Board of India (SEBI), and the Dubai Financial Services Authority (DFSA). According to market research, mutual fund average assets under management (AAUM) reached Rs 83.5 trillion in May 2026. Founded by Navin Honagudi in 2022, Elev8 Venture Partners is a growth stage venture investment firm focused on backing category leading technology companies across India. The firm invests in high growth businesses across sectors including fintech, consumer, SaaS, mobility, and enterprise technology. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
