Mohit Gulati, Chief Investment Officer and Managing Partner at ITI Growth Opportunities Fund, has built a reputation as one of India’s most hands-on and thesis-driven venture capital leaders. With a career spanning Kelusa Capital in Singapore, Antique Finance, and Oliphans Capital, he brings a global lens and a distinctly grounded approach to backing entrepreneurs.

In this conversation with Indian Startup Times, Mohit shares his journey, his investment philosophy, and what founders often overlook when building in India’s dynamic market.

From Singapore to Mumbai: An Investor’s Journey

Mohit’s formative years in investing began at Kelusa Capital, Singapore, during the turbulence of the 2008 financial crisis. It was a crash course in risk and resilience — lessons that continue to shape his approach. His 3-year stint at Antique’s research & equity desk was a crash course in evaluating businesses across the listed markets.  He later co-founded Oliphans Capital, which made early bets on companies such as Ecom Express and Grab, before moving on to build ITI Growth Opportunities Fund.

Today, Mohit positions himself not just as an investor but as a partner to founders. “We make it a point to reply to every entrepreneur,” he says. “Responsiveness sets the tone for the kind of relationship we want to build.”

Building Theses, Not FOMO Bets

ITI Growth invests across EV infrastructure (Bolt), fintech (Grip Invest, GetePay), and healthcare (Hexa Health, CureSkin). The team avoids trend-chasing, instead producing six to seven deep research reports each year to uncover underserved markets and solve macro-level problems.

This thesis-first discipline helps ITI Growth build conviction early, rather than being swayed by hype cycles. The firm also draws on the broader ITI Group’s strengths — from broking to IPO — to support companies at every stage of their journey.

The Hard Truths for Entrepreneurs

Mohit’s advice to founders is refreshingly direct. Many, he notes, misjudge the size of their total addressable market. Others underestimate how hard it is to hire and retain the right team — or how unforgiving India can be for solo founders.

He also stresses the importance of patience and constant learning:
“Keep learning, keep showing up, and pace yourself — building a career or a company is a marathon, not a sprint.”

Looking ahead, he believes India will reward founders who can navigate regulation and distribution moats far more than those chasing shiny consumer trends.

ITI Growth’s Differentiated Playbook

The Fund’s edge lies in its access to B2B and B2G clients through the ITI Group, paired with in-house capabilities across the investment lifecycle. This gives portfolio companies leverage not just at seed, but all the way through IPO and even into venture debt or pre-IPO opportunities.

Looking Ahead

As ITI Growth expands its footprint, Mohit remains focused on building deep, trust-driven partnerships with founders. “Our goal is to be more than just a capital provider,” he says. “We want to be a sounding board, a strategic ally, and a bridge to opportunities that can accelerate growth.”

Conclusion

Mohit Gulati’s approach at ITI Growth Opportunities Fund reflects a rare blend of global perspective, deep research, and founder-centric execution. For entrepreneurs navigating India’s high-potential but complex markets, his message is clear:

“Capital is abundant. Conviction isn’t. Choose partners who bring both.”