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Singapore · Family Office · Est. 2015

Fifteen years.
Forty companies.
One balance sheet.

Boleh Capital is the family office of Varun Mittal, managing personal and family capital across long-term private market positions in fintech and digital commerce. Southeast Asia, India and Africa. Fifteen years and counting.

Investment Approach
41+
Direct portfolio holdings
8
Exits including Skuad and Groq
15
Years in emerging markets
3
Core markets: SEA · India · Africa
Capital that compounds. Boleh. Declare it. Build it. Capital that compounds. Boleh. Declare it. Build it. Capital that compounds. Boleh. Declare it. Build it.
Why Boleh
Two cultures.
One word.

In Singlish, Boleh means "Can." In North Indian tradition, "Jo Bole(h) So Nihal." Whoever declares it, shall be fulfilled.

Varun didn't choose between them. He was shaped by both.

Jo Bole(h) So Nihal

Whoever declares it,
shall be fulfilled.

North Indian tradition

Boleh

Can.
Can do.
It can be done.

Singlish · Singapore

Where We Invest

Three markets.
One thesis.

Fifteen years of pattern recognition across three markets. Not diversification. Conviction.

Southeast Asia
The first chapter.

The growth thesis has not played out yet. Boleh Capital has been here since the beginning. And the beginning, it turns out, was only the first chapter.

India
Born into it.

Not a market Varun entered. One he was born into. The relationships, the instincts, the pattern recognition here go back further than any investment.

Africa
Arrived early.

Where Southeast Asia was fifteen years ago. Boleh Capital arrived early. Because that is the only time it makes sense to arrive.

Investment Approach

Direct Holdings.
Long-term Conviction.

How Boleh Capital Invests Personal Capital Across Emerging Markets

The model has not changed in fifteen years. Personal capital. Direct positions. Long-term holding. Boleh Capital is the structure through which Varun manages it.

01
Direct Holdings
Personal capital held directly across private companies. Early stage through pre-IPO. Southeast Asia, India and Africa. Managed through multiple private investment entities in-house.
02
Ecosystem Co-Investment
In select situations, Varun participates alongside aligned investment partners for specific geographic and sector coverage. These are private, bilateral arrangements. Boleh Capital represents his personal interest.
What Boleh Capital Is

Boleh Capital is the direct expression of that conviction. Personal capital, managed personally. The philosophy came first. The structure followed.

The conviction behind the capital

There before
anyone believed.

Varun brings something most capital cannot: the experience of having done it himself. Built companies, operated across markets, navigated exits. The mentorship he offers founders is not advice from the sideline. It comes from the arena.

He shows up at the hard moments because he knows what those moments feel like. He has never asked for more than founders could give. He was there before anyone else believed. And he stays long after the headline exits.

That is what Boleh means in practice.

Direct Investments

Forty companies.
Fifteen years.
Eight exits.

Boleh Capital Portfolio. Fintech and Digital Commerce Across Southeast Asia, India and Africa

Varun sees himself in every founder he backs. The hunger. The uncertainty. The decision to build before the path is clear. That recognition is where the commitment begins. Before the raise, before the deck, before the founder has even decided to go all in.

Forty companies across fifteen years. Each one connected deliberately. To each other, to markets they could not access alone, to talent and relationships across the portfolio. This cross-pollination of portfolio companies gives founders an ecosystem. Not just to survive, but to thrive. It is what separates Boleh Capital from every other family office in this region. Capital is the entry point. The ecosystem is what compounds.

What founders carry long after the capital is deployed is something harder to measure. The experience Varun shares, of having built, operated and navigated hard moments, becomes part of how they lead. He brings everything he has lived through into every founder relationship.

That is what drives him. That is what this portfolio is.

Category Leaders
A
Aspire
All-in-one finance operating system for modern businesses across Southeast Asia.
B
Bibit
Largest wealth management and investment platform in Indonesia.
E
Endowus
Singapore and Hong Kong's largest direct-to-consumer digital wealth platform.
F
Flip ID
Indonesia's largest peer-to-peer payment network.
S
Sleek
Business-in-a-box platform including incorporation, tax, audit and virtual banking for SMEs.
S
Signzy
No-code AI platform for KYC, AML and digital onboarding solutions.
T
TymeBank
Consumer and retail-focused digital bank in South Africa and the Philippines.
Z
Zupee
Play-to-earn, skill-based gaming platform and community in India.
N
Netbank
Banking-as-a-Service platform with full-stack banking licence in the Philippines.
A
Amplio Invest
Fixed income platform with NBFC licence in India and insurance-protected investment structures.
Early Stage
T
TripleA
Regulated crypto-payment gateway for collections and disbursement solutions.
T
Trade Together
First regulated crypto robo-advisor in Singapore.
T
TykeInvest
Low-entry-ticket equity crowdfunding platform in India.
H
Hyperface
Credit card and BNPL infrastructure as a service for merchants and banks across Asia.
C
CrediLinq
B2B BNPL and trade finance platform for SMEs across Southeast Asia.
N
Norebase
Digital business incorporation, trademark registration and legal services across Africa.
R
Revise NFT
TypeScript SDK to build dynamic, interactive NFTs for brands and merchants.
G
GetEquity
Low-entry-ticket equity crowdfunding platform in Africa.
B
Biteship
API platform to simplify, automate and expand shipping and logistics for businesses.
K
Kodo
Corporate card and lending platform for new economy businesses in India.
H
Hustlesasa
Mobile-first platform enabling creatives to start and grow businesses online.
O
OneCode
New-age reseller platform connecting direct-to-consumer brands with distribution networks.
L
LunaPOS
POS solution focused on the food and beverage sector in Indonesia.
Y
Yufin
Control centre for small merchants and their ecosystems.
C
CreditBook
Accounting, ledger and credit management platform for SMEs.
L
Lista
Bookkeeping, payment and digitisation solutions for SMEs in the Philippines.
Exits
EXIT
S
Skuad
Global HR platform. Acquired by Payoneer in 2024.
EXIT
G
Groq
AI inference company. Exited 2024.
EXIT
T
Tenx
Enabled consumers to spend cryptocurrency at retail point of sale.
EXIT
J
Jumper.ai
Conversational commerce platform. Acquired by Vonage/Ericsson.
EXIT
B
Bento Wealth
Bionic robo-advisor operating in B2B and B2C models.
EXIT
P
Policypal
Insurance aggregator, comparison and servicing platform.
EXIT
N
Numberz
Digitised accounts payable and receivable automation for SMEs and corporates.
EXIT
F
Finaro Payments
Cross-border payment provider empowering international commerce.
Select Co-Investors

Boleh Capital has participated alongside the following publicly verifiable institutional investors across select portfolio companies.

Sequoia / Peak XV
Insignia Ventures
Citibank
EDBI
BeenNext
Square Peg
January Capital
Integra Partners
Cento Ventures

Boleh Capital manages personal and family capital only. This website is informational. It does not constitute an offer to invest, a solicitation of capital or financial advice of any kind.