Natasha Malpani, a former partner at Kae Capital, has taken a bold step into the world of artificial intelligence investing. She recently launched Boundless Ventures, a ₹200 crore early-stage fund that focuses entirely on AI-native startups from India. With this fund, Malpani wants to back founders who combine deep technical expertise with cultural understanding, giving them an edge in the fast-evolving AI landscape.
Boundless Ventures has already hit the ground running. The fund invests at the pre-seed and seed stages and has made six investments so far. Malpani raised the capital from her personal network of friends and family, a move that underscores her credibility and trust within India’s startup ecosystem.
A Founder-Centric Investment Philosophy
Malpani has built Boundless Ventures around the kind of support she once sought as an entrepreneur. She describes the fund as sharp, fast, and rooted in trust. Her philosophy centers on backing founders before the broader market recognizes their potential.
“Founders who can marry technical depth with cultural fluency will be the ones who set the terms of the next wave,” Malpani explained. “Boundless exists to back those founders before the world catches on.”
This philosophy positions Boundless Ventures differently from many traditional funds that often wait for traction before making early bets. By moving decisively at the pre-seed and seed stages, Malpani aims to secure access to the most ambitious builders in India’s AI ecosystem.
The Investment Focus
Boundless Ventures invests in startups across the full spectrum of AI innovation. The fund targets five key categories:
- Consumer AI Applications – Products that bring AI directly into the hands of everyday users, making their lives simpler and more efficient.
- AI Infrastructure – Tools, platforms, and systems that power AI development at scale, enabling broader adoption across industries.
- Agent Tooling – Solutions that enhance the capabilities of AI agents, allowing them to operate more independently and effectively.
- Vertical Use Cases – AI-powered companies in sectors such as healthcare, logistics, and retail, where industry-specific applications can create transformative impact.
- Make-in-India AI Hardware – Locally built chips, robotics, and hardware designed to reduce dependence on imports and strengthen India’s AI capabilities at the hardware level.
By investing across these areas, Boundless Ventures demonstrates a holistic approach. The fund doesn’t just chase the hype around generative AI; it supports everything from fundamental infrastructure to specialized vertical solutions.
A Portfolio with Range and Vision
In its early days, Boundless Ventures has already assembled a portfolio that reflects both ambition and diversity.
- SuperHealth – A healthcare startup that applies AI to preventive and personalized care, helping individuals track and improve their health outcomes.
- Armatrix – A robotics firm building AI-enabled machines that can handle complex industrial and logistical tasks.
- Piersight – A spacetech venture leveraging AI to improve earth observation, satellite analytics, and navigation.
- Knot – A quick fashion delivery startup that uses AI to optimize supply chains and match consumer demand with hyper-local inventory.
- Two Stealth Startups – One focused on AI infrastructure and another on consumer AI, both currently operating under wraps.
This portfolio illustrates Malpani’s strategy. She doesn’t restrict Boundless to one vertical. Instead, she bets on diverse founders applying AI across healthcare, spacetech, robotics, and consumer markets.
More Than Just Capital
Boundless Ventures wants to be more than a source of money. Malpani brings her experience as a founder and operator into play. She promises to support startups with storytelling, market access, and network building.
This support matters deeply for early-stage founders. Many technologists in India excel at building but struggle with positioning, branding, and reaching global markets. Malpani’s background helps fill this gap.
She has previously founded Boundless Media, a content studio that nurtures authentic storytelling. She also played a key role in scaling Dice Media, a digital entertainment company that became a household name for millennial audiences in India. These experiences give her practical insight into building brands and engaging users—a skill set that many funds overlook.
Why Now for an AI-Only Fund?
The timing of Boundless Ventures feels intentional. AI adoption has exploded globally in the past two years. Generative AI models, language-based assistants, and AI-driven automation have shifted from experimental tools to mainstream products.
India sits at a unique intersection of opportunity:
- Talent Pool – The country produces world-class AI engineers, researchers, and product builders.
- Market Scale – With over a billion consumers, India offers massive data-rich environments for AI applications.
- Global Demand – The rest of the world increasingly looks to India for both affordable talent and scalable AI-driven solutions.
By launching an AI-native fund now, Malpani positions Boundless Ventures to capture the earliest and most ambitious experiments emerging from this ecosystem.
Natasha Malpani’s Journey
Natasha Malpani has navigated multiple worlds before founding Boundless Ventures. At Kae Capital, she honed her skills as an investor by working closely with early-stage companies across sectors. She saw firsthand how capital, timing, and mentorship can determine whether startups scale or stall.
Before her investing career, she built creative ventures from scratch. With Dice Media, she transformed storytelling for India’s youth, building a recognizable brand with series that went viral. Through Boundless Media, she continued exploring innovative storytelling formats. These entrepreneurial stints shaped her understanding of founders’ struggles and opportunities.
Malpani also trained as a scientist earlier in her career, giving her a multidisciplinary edge. This combination of science, investing, and entrepreneurship now fuels her vision for Boundless Ventures.
A New Breed of Venture Capital
Boundless Ventures signals a shift in India’s venture capital ecosystem. Traditionally, large institutional funds have dominated early-stage investing. These funds bring financial muscle but often move slowly. In contrast, solo GPs (general partners) like Malpani create smaller, nimble funds that move faster, take bigger bets, and build closer relationships with founders.
Malpani’s decision to raise capital primarily from her personal network also sets Boundless apart. Instead of relying on large institutions, she leaned on trust and credibility. This structure allows her to operate with greater flexibility, free from rigid institutional timelines or mandates.
The Road Ahead
Boundless Ventures plans to deploy its ₹200 crore fund over the next few years by investing in 12–15 startups. Each investment will likely range from ₹5–20 crore, giving founders significant early-stage runway.
The fund’s success will depend on how well it identifies outlier founders—those capable of building global AI-first companies from India. If successful, Boundless Ventures could set the tone for a new wave of specialized venture funds in India.
Malpani’s belief in cultural fluency also stands out. She argues that AI founders need to go beyond technical mastery. They must understand user behavior, narratives, and social dynamics to build products that resonate. Her support in storytelling and brand-building directly addresses this need.
Conclusion
With Boundless Ventures, Natasha Malpani has introduced a fresh model of venture capital to India’s startup ecosystem. Backed by a ₹200 crore fund and guided by her founder-first philosophy, she wants to empower the next generation of AI builders.
Her approach combines capital with creativity, operational know-how, and trust. The early portfolio already showcases bold bets across healthcare, robotics, spacetech, and consumer markets. As India races to establish itself as a global AI hub, Boundless Ventures looks poised to play a crucial role in shaping that future.
Malpani’s journey from scientist to storyteller, founder, and now investor makes her uniquely positioned to spot and support the builders who will define India’s AI decade.
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