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SEVA, led by former Susquehanna Growth Equity investor Shalin Mehta, has achieved a remarkable milestone, securing $85 million in just four months for its inaugural growth equity fund. With a focus on investing in customer-centric founders of fast-growing, bootstrapped companies, SEVA positions itself uniquely between private equity and venture capital. Inspired by the Sanskrit word for 'selfless service,' SEVA embodies Mehta's dedication to serving customer-centric founders and companies, a principle that has shaped his decade-long career.
Mehta, now the solo general partner at SEVA, brings five years of experience, having led investments in notable companies such as NoRedInk and MuckRack. Unlike some emerging fund managers, SEVA surpassed its initial $50 million target, securing support from a diverse group of backers, including institutional investors, university endowments, charitable foundations, family offices, and founders Mehta previously invested in.
"We're committed to investing in bootstrapped or founder-led, profitable, fast-growing, technology-enabled companies—those that don't need venture capital or growth-stage ventures or they don't want to sell control," Mehta explained.
Looking ahead, SEVA plans to deploy its capital into eight to 10 companies over the next three to five years, focusing on sectors like internet, software, data, marketplace, and technology-enabled services. Mehta sees SEVA as more than just funders; they act as consiglieres, partnering with portfolio companies in strategic planning, executive hiring, go-to-market strategies, long-term growth and profitability, and exit planning.
SEVA's swift and successful fundraising establishes it as a noteworthy contender in the ever-evolving landscape of growth equity, solidifying its role as a strategic partner for founders navigating the space between private equity and venture capital.
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