Contrarian Capital MD Somak Ghosh Joins Gemba Capital Board

SUMMARY

Gemba Capital has appointed Somak Ghosh, Managing Director of Contrarian Capital, to its advisory board to leverage his extensive fintech expertise for strategic guidance and governance.

Ghosh brings valuable experience from funding successful startups through the Contrarian Vriddhi Fund and has a broad background in venture capital, private equity, and banking.

His addition strengthens Gemba Capital's advisory board alongside recent investments and the launch of a second fund aimed at early-stage fintech and consumer tech startups.

Gemba Capital, a micro venture capital fund focused on early stage technology startups, has strengthened its advisory board by onboarding Contrarian Capital’s managing director Somak Ghosh.

Ghosh, who set up Contrarian Vriddhi Fund in 2013, claims to have backed 12 startups, including Pratilipi, Progcap and Signzy through the SEBI-registered investment vehicle.

His experience spans across sectors like corporate and development banking, venture capital, private equity, infrastructure finance and corporate strategy.

According to a statement, Ghosh’s expertise in fintech will provide valuable insights for the firm’s strategic decisions and governance. This move, coupled with the recent addition of Pratilipi founder Ranjeet Pratap Singh to the advisory board, also indicates Gemba Capital’s efforts to strengthen its position in the competitive Indian startup investment landscape.

Ghosh said, “This engagement with Gemba Capital is an effort to help the ecosystem with my experiences and learnings.”

Founded in 2017 by Adith Podhar, Gemba Capital has invested in over 50 startups to date, including Plum Insurtech, Grip Invest, and Wint Wealth.

The firm launched its second fund of INR 250 Cr in July, including a green shoe option of INR 50 Cr, to invest in approximately 30 early-stage ‘Platform-first’ businesses across fintech, consumer tech, and B2B platforms.

Podhar said, “The Fund will seek his advice on governance and strategic decisions. With his expertise and mentorship, we will add real value to our Portfolio Companies since Fintech is a core investment focus for our Fund-II.”

Gemba Capital has made recent investments in startups like Eternz, LightFury Games etc,. The firm also backed Navadhan Capital and Volt Money in 2023.

Gemba Capital operates alongside firms such as 100X.VC, Venture Catalysts, and Blume Ventures, all focusing on early-stage investments.

According to Inc42’s H1 2024 Startup Funding Report, Indian startups raised $5.3 Bn across 504 deals in the first half of 2024. The report highlights a 23% year-on-year increase in seed-stage funding to $589 Mn across 229 deals.