Boundless Ventures is a Mumbai-based AI-first venture firm founded in 2025 by Natasha Malpani, a former Kae Capital partner with an MBA from Stanford. It closed its maiden fund at ₹300 crore (about $35 million) in August 2026 — oversubscribed after initially targeting ₹200 crore. The firm invests at the pre-seed and seed stages, writing first cheques of $500,000 to $1 million and reserving follow-on firepower for breakout winners.

Thesis

Boundless backs AI-native founders across science, systems and identity — from AI infrastructure, memory and chips to consumer and vertical applications in healthcare and logistics. Malpani’s conviction is that India’s AI wave will not come from foundational models alone but from founders fusing infrastructure with the application layer — building things that could not have existed before AI. The firm aims for 25–30 investments, with around 60% of the fund reserved for follow-ons. It speaks to at least 1,000 founders a year and works closely with researchers at IIT Madras, IISc, Stanford and Oxford, alongside frontier-tech companies such as Anthropic, OpenAI and Nvidia.

Sectors and stages

Pre-seed and seed across the AI stack: foundational models, infrastructure, agent tooling, consumer AI, vertical AI (healthcare, logistics), robotics, space tech and make-in-India AI hardware.

Notable portfolio

Announced investments include SuperHealth (healthcare delivery), Armatrix (last-mile industrial robotics), Piersight (real-time ocean intelligence via satellites), Knot (AI-native fashion discovery and delivery), Litmus (AI-personalised tutoring), Glide (travel discovery) and Hypernorm (AI wealth management). More than half of its portfolio companies have raised follow-on rounds from prominent seed and growth-stage investors.

Partners and team

Natasha Malpani is the founder and general partner. Her career spans cancer research at Oxford, investing in health at a $1 billion fund in London, backing early AI companies at Kae Capital — where she led the generative AI thesis — and founding Boundless Media, the company behind the film Uunchai and the scaled Dice Media platform. The team sits in Bengaluru with scouts in Silicon Valley and London.

Programs

Beyond cheques, Boundless runs a “narrative lab” — positioning, design and storytelling support for founders — plus community events, programmes and workshops in AI-adjacent domains, including a recent consumer-tech workshop with teams from a US-based AI company.

Why it matters for founders

If you are building AI-native at pre-seed, Boundless is one of the few India funds that will back you before revenue is meaningful. Its storytelling muscle is a real differentiator — Malpani built media companies before she ran a fund, and that narrative support can sharpen your pitch for every subsequent round.