SEVA Growth LP, a Brooklyn, New York-based growth equity firm, announced the closing of its second fund, SEVA II LP, with US$160 million in capital commitments. The sophomore vehicle was multiple times oversubscribed and surpassed its original fundraising target of US$125 million in less than one month. The achievement underscores continued investor confidence in SEVA's minority growth equity strategy focused on founder-led technology companies.
Fundraising Momentum and Limited Partner Support
The firm did not use a placement agent for either of its fundraising efforts. SEVA II received backing from existing blue-chip institutional limited partners, including leading university endowments, charitable foundations, cause-based nonprofit-focused investment managers, and family offices. New investors from top-tier university endowments, foundations, and nonprofit-focused managers also joined the fund.
The fund's limited partner base reflects SEVA's commitment to seva, a Sanskrit word meaning selfless service. It also includes an existing network of bootstrapped founders, chief executives, and industry leaders with prior professional relationships to Managing Partner Shalin Mehta. The founders from all five SEVA portfolio companies invested as limited partners in SEVA II.
Firm Background and Investment Focus
SEVA was founded in 2023 by Managing Partner Shalin Mehta to serve as an active and collaborative minority growth equity partner. At the time of the firm's launch, Mr. Mehta was 28 years old, making him the youngest solo general partner in growth equity industry history. The firm invests exclusively in internet, software, data, marketplace, and technology-enabled services companies.
SEVA focuses solely on minority investments in profitable or near break-even, founder-led, technology-enabled companies. It targets businesses with scalable models, sustained organic revenue growth, proven go-to-market capabilities, high customer retention, and little to no institutional capital. The firm advises founders on strategic and go-to-market planning, executive hiring, financial reporting, operational infrastructure, and exit planning.
Fund I Performance and Portfolio Companies
SEVA's debut fund, SEVA I LP, closed in October 2023 and was also multiple-times oversubscribed. It initially set out to raise US$50 million and closed at US$85 million in four months, before being topped up by existing limited partners in 2025 to US$91 million. With the close of SEVA II, the firm now manages more than US$250 million in assets.
SEVA I has invested in five companies: Chicory, Inc., Teleskope Technologies, Inc., TitanFile, Inc., Pronto, and Serif Health. The firm plans to make minority investments in two additional companies from that fund. Mr. Mehta has joined the board of each SEVA portfolio company as part of the investment partnership.
SEVA II aims to invest in between seven and nine companies, seeking targeted minority investments that complement the existing portfolio. Consistent with SEVA I, the new fund will focus on high-quality, capital-efficient businesses. The firm is led by Mr. Mehta, SEVA principal Roshan Joshi, and a select group of operating advisors.
Leadership Commentary
Mr. Mehta expressed gratitude for the support of existing and new institutional limited partners, including endowments, foundations, and cause-based nonprofits. He noted that SEVA's thematic focus and concentrated data-centric approach enable deep relationships with founder partners. According to Mr. Mehta, founders are looking for a trusted strategic advisor to help accelerate and scale their businesses through profitable growth without ceding control.
The closing of SEVA II highlights the firm's ability to attract significant institutional capital in a challenging fundraising environment. It also demonstrates the confidence that portfolio company founders and industry leaders place in SEVA's collaborative model. With more than US$250 million in assets under management, SEVA is positioned to continue supporting founder-led technology companies through its disciplined minority growth equity strategy.