Venture Capital. INDIA. INNOVATION. GLOBAL SCALE.

About Montane Ventures

We're dedicated to supporting entrepreneurs who aspire to build world-changing businesses, have the strength to shoulder the responsibility, and who persist in the face of daunting odds.

Montane Ventures is an early-stage Venture Capital fund with operations in Mumbai, Bangalore and Washington DC.

We believe that India holds a unique market and position in the world. India is a global source of top engineering and technology talent, ready to create value domestically and fill the growing talent gap globally. Entrepreneurs are leveraging talent in global cities like Mumbai, Bangalore, and Delhi to develop and apply technology to extensive markets and critical problems. Overcoming falling and flat global productivity rates represents only one example of the core challenges that will shape the next several decades. We believe that technology and products developed by leveraging India will play a key role in that effort.

Our Venture Capital Approach

Build in India. Scale Globally.

India offers a proving ground capable of catalyzing innovative solutions under formidable constraints. As products and businesses develop, strong ties to the US and global markets make the country a unique launch pad for global export. As a fund and team, Montane Ventures is dedicated to supporting the entrepreneurs and innovators who are building world-class companies out of India.

At Montane we spend a tremendous amount of time evaluating teams. Entrepreneurs and founders scale businesses and investors join for the long ride. Montane looks for listeners and leaders who serve and inspire their teams and engage collaboratively with investors and advisors.

Besides the team, Montane looks for greenfield opportunities in spaces with no established market leader. We like barriers to entry and high switching costs. We prefer businesses that create annuity and generate recurring revenue and which are capital efficient. Finally, we look for teams that demonstrate the intent and capability to integrate data and analytics into their decision-making.

Venture Capital Team

A world class venture capital team to support the best founders of India.

Josh Bornstein

Partner / Director

Josh Bornstein is a seasoned investor in India. As Co-Founder and Partner at Footprint Ventures Josh invested and served on the board of companies like Canvera, Enstage, and Hector Beverages.

Early in his career Josh spent time in Strategic Planning at Infosys and in the banking sector. He received his BA from Claremont McKenna College. Josh founded Montane Ventures in 2015.

Rajesh Rai

Partner

Rajesh Rai has been a venture capital investor in the U.S. and India for over 16 years. He was CEO of India Innovation Fund, where he led investments, served on boards of category leading companies, and generated top tier returns through a full portfolio exit. He was also Co-Founder and Partner at New Markets Venture Partners (NMVP), a leading venture fund in Washington DC area where he worked across the cycle of fundraise, investments and exits. Rajesh has an MBA from the University of Maryland’s Smith School of Business and a BE from NIT Suratkal.

Nandini Piramal

Investment Committee

Nandini Piramal is a member of the Investment Committee at Montane Ventures.

Nandini Piramal is the Executive Director of Piramal Enterprises Limited and leads the Over-The-Counter (OTC) business of the company. Under Nandini’s leadership, the OTC business has emerged as one of the fastest growing Indian OTC companies with most its brands ranked No.1 or No.2 in their respective markets and product categories. She played a pivotal role in Piramal Healthcare’s branded generic-medicine business sale to Abbott Laboratories, at a record 30x EBITDA.

Nandini heads the Human Resources and Information Technology functions at Piramal Group and the Quality & Risk functions for the Pharma business. She has recently initiated an HR transformation strategy, with renewed focus on service delivery, customer centricity and operational excellence.

Nandini has been recognized amongst India’s Most Powerful Women by Business Today (2020), and as a ‘Young Global Leader’ by the World Economic Forum (2014).

Nandini is passionately involved with Piramal Foundation (the philanthropic arm of the Piramal Group), and its initiatives: Piramal Swasthya, Piramal School of Leadership and Piramal Sarvajal.

She holds a Master’s Degree in Business Administration from Stanford Graduate School of Business and a Bachelor’s Degree (Hons.) in Politics, Philosophy and Economics from Oxford University.