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Ev2 Ventures is a venture capital firm established to focus on the smart mobility and transportation technology ecosystem. Founded in India, the firm aims to invest in category-defining startups at early to pre-Series A stages. Ev2 Ventures partners with entrepreneurs who are on a rapid growth trajectory and are committed to making a sustainable impact in the mobility sector.
The firm has a fund size of $50 million and currently manages a portfolio of 10 companies. Ev2 Ventures operates primarily in India, with a strong emphasis on sectors such as electric vehicles, logistics technology, and the sharing economy. The firm has evolved to become a key player in the mobility investment space, actively engaging with startups that redefine transportation technology.
Notable milestones include the recent merger with Caret Capital to launch Caret Capital Fund II, which broadens their investment thesis to include distribution and employment alongside mobility. This strategic move positions Ev2 Ventures as a significant player in the sustainability-focused investment landscape.
Ev2 Ventures exclusively invests in the smart mobility sector, which encompasses a variety of areas including Electric Vehicles, Connected Supply Chain, Logistics Technology, Micro-mobility, Agri Supply Chain, Warehousing Technology, and the Sharing Economy. The firm targets early to pre-Series A stage startups, providing them with the necessary resources to accelerate growth and achieve significant milestones.
The firm seeks founders who are on a rapid growth trajectory and can create sustainable impact at venture scale. Ev2 Ventures emphasizes the importance of electrification, digitization, and smart logistics in rebuilding India's transportation and logistics systems. Their investment strategy is designed to support startups that are innovating within these sectors, ensuring they have the tools and guidance needed to succeed in a competitive market.
Ev2 Ventures has built a diverse portfolio of 10 notable companies, each contributing to the smart mobility landscape:
This portfolio reflects Ev2 Ventures' commitment to investing in innovative solutions that address the challenges in the mobility sector, particularly in India.
Charles Owen - Partner: Charles has worked on over 50 transactions across 8 countries, totaling more than $14 billion. His experience includes IPOs, private equity, venture investments, LBOs, and M&A. He previously served as the global head of M&A at Harman International.
Karan Mittal - Partner: Karan has over 13 years of experience in private equity, venture capital, structured finance, and M&A across India, Southeast Asia, and the US. He was previously a partner at Velos Partners and is a co-managing partner of Caret Capital Fund II.
Vinay Mittal - Advisor: Vinay is the former Chairman of the Railway Board, bringing extensive experience in transportation and logistics.
Dinesh Mittal - Advisor: Dinesh served as the former Secretary of the Ministry of Finance, providing valuable insights into financial strategies.
Rajal Upadhyay - Advisor: Rajal is an ex-General Partner at Catalyst Principal Partners in Africa, contributing a wealth of experience in investment management.
Vishnu Sundaram - Advisor: Vishnu is the senior vice president and CTO at Gentherm, with prior experience at Stellantis and Harman.
Leo Kirby - Advisor: Leo is the Managing Director at Principled Investments, with a background at Golden Vision and GE.
Samrat Ganguly - Advisor: Samrat is a co-founder and managing partner at Velos Partners, bringing expertise in early-stage investments.
To pitch Ev2 Ventures, founders should visit their website at ev2.vc or email Team@Ev2.vc. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, traction, and how the startup aligns with Ev2's investment focus.
Ev2 Ventures prefers pitches that clearly demonstrate the startup's potential for sustainable impact and growth within the smart mobility sector. Founders should also be prepared to discuss their operational strategies and how they plan to achieve significant milestones.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are encouraged, as they can facilitate a more favorable review process.
In April 2026, Ev2 Ventures announced a merger with Caret Capital to launch Caret Capital Fund II, a $50 million fund focused on pre-Series A startups across mobility, distribution, and employment. This strategic move aims to broaden their investment thesis and enhance their impact in the sustainability sector.
Ev2 Ventures has been actively engaging with the smart mobility sector, focusing on innovative startups that redefine transportation technology. The firm continues to seek partnerships with entrepreneurs poised for rapid growth and sustainability.
What are Ev2 Ventures' investment criteria?
Ev2 Ventures invests in early to pre-Series A stage startups within the smart mobility sector, focusing on areas such as electric vehicles, logistics technology, and the sharing economy. They seek founders who demonstrate a rapid growth trajectory and a commitment to sustainable impact.
How can I pitch to Ev2 Ventures?
Founders can pitch to Ev2 Ventures through their website at ev2.vc or by emailing Team@Ev2.vc. It is recommended to include a clear business model, traction metrics, and how the startup aligns with their investment focus.
What makes Ev2 Ventures different from other investors?
Ev2 Ventures provides a targeted growth playbook, access to a mentor community, and deep industry knowledge, which helps portfolio companies reach their next major milestones faster. Their exclusive focus on smart mobility sets them apart in the venture capital landscape.
What is the geographic focus of Ev2 Ventures?
Ev2 Ventures exclusively invests in startups based in India, particularly those that are innovating within the smart mobility sector.
What is the typical check size for investments?
While specific check sizes are not disclosed, Ev2 Ventures focuses on early-stage investments, which typically range from pre-seed to Series A funding rounds.
What kind of support do portfolio companies receive?
Ev2 Ventures offers targeted resources, mentorship, and industry insights to help startups accelerate their growth and achieve significant milestones in the competitive mobility landscape.
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