Max Ventures and Industries

Max Ventures and Industries Limited (MVIL) is a publicly listed Indian company on the NSE and BSE exchanges, part of the $3 billion Max Group conglomerate founded by Analjit Singh in 1985 and headquartered in New Delhi. MVIL serves as the holding company for Max Estates (real estate development), Max Speciality Films (packaging and labeling films), MAX Learning, and MAX I., its investment subsidiary. Under CEO and Managing Director Sahil Vachani, the company generated revenue of approximately 1,200 crore rupees in FY2024. The investment arm has made approximately 22 venture investments across the United States, India, Sweden, and other markets, spanning enterprise applications, retail, consumer, healthcare, and digital commerce. Check sizes have typically been in the $1 million to $3 million range at Seed through Series B stages. The portfolio has achieved significant outcomes including one unicorn — K Health, an AI-powered primary care platform that achieved unicorn status in 2021, with MVIL backing the company since seed stage — and two IPOs: Nykaa (listed on the BSE and NSE in November 2021 at a $7.14 billion market capitalization) and Avnet (NYSE). Five portfolio companies have been acquired. MVIL's investment approach reflects its position as the venture and innovation arm of a diversified conglomerate, with a board that includes founder Analjit Singh, Arvind Aggarwal, Bishwajit Das, Tara Singh Vachani, and Sahil Vachani. The fund identifies sunrise sectors where MVIL's industrial and consumer network can provide portfolio companies with market access and operational credibility beyond what a purely financial investor could offer.