WEH Ventures Exits smallcase With 38% IRR

Early stage VC firm WEH Ventures has completely exited invest tech startup Smallcase with an internal rate of return (IRR) of 38%.

The VC firm first invested in the startup from its INR 20 Cr Fund I in 2018. With the exit, WEH Ventures said it has achieved a complete return of capital on its Fund I.

After investing in smallcase in its seed round, WEH Ventures invested in all funding rounds of the startup till Series C. Overall, it invested INR 5 Cr in the platform. 

smallcase has grown 80X in terms of revenue since its seed funding, WEH Ventures added.

The VC firm exited smallcase during its $50 Mn Series D funding round in March, which was led by Elev8 Venture Partners. The round also saw participation from State Street Global Advisors, Niveshaay AIF, Faering Capital and Arkam Ventures.

Founded in 2016 by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, Bengaluru-based smallcase provides users with a professionally built basket of stocks or ETFs, called ‘smallcases’, that track a theme, idea, or strategy. It has raised a total funding of $112 Mn to date and counts the likes of BEENEXT, Akram Ventures and Elev8 Venture Partners among its investors.

The startup competes with the likes of Alphaniti and Savart, among others in the investment space.

Meanwhile, WEH Ventures is a Mumbai-based VC firm which counts startups like MasterChow, Magma, KNOT, Jar and Pratilipi, among others, in its portfolio. 

The VC firm claims to have invested in more than 25 startups till date. The development comes at a time when the Indian startup ecosystem has seen notable exits in the first half of 2025. For instance, Peak XV recently exited hyperlocal logistics unicorn Porter with a 10X return.

At the heart of all these is the rapidly growing Indian startup ecosystem, which bagged $5.7 Bn across 470 deals in the first half of 2025, marking a 8% jump from $5.3 Bn raised in H1 2024.