Early-stage venture capital firm Endiya Partners marked its first public market exit from Fund I following the listing of fintech company Kissht on the BSE and NSE on Thursday.
Endiya had first invested in Kissht in June 2017, participating as the company’s first institutional investor. The firm continued to invest in subsequent funding rounds through to the company’s initial public offering (IPO).
Endiya said Fund I had delivered 2x distributed to paid-in capital (DPI) prior to the Kissht listing.
“We wrote the seed cheque in 2017 when the segment was still early and not widely understood. Nine years later, Kissht has served 11.17 million customers across India. Kissht joins Darwinbox in showing what patient, conviction-led investing produces when founders build with discipline,” said Sateesh Andra, Managing Partner at Endiya Partners.
Operated by OnEMI Technology Solutions Limited, Kissht operates in the digital lending segment. The company has reported assets under management (AUM) of Rs 5,956 crore as of December 31, 2025, and a profit after tax (PAT) of Rs 199 crore for the first nine months of FY26.
Kissht’s IPO received an overall subscription of 9.5 times, while the qualified institutional buyers (QIB) portion was subscribed 24.87 times.
“In the early days, conviction is lonely. You are building for a segment most don’t fully understand yet, with a product that does not exist. Endiya Partners didn’t just back the idea. They validated the segment,” said Krishnan Vishwanathan, co-founder of Kissht.
Endiya Partners launched its maiden venture capital fund, Fund I, in 2016 and achieved its first close the same year. By early 2017, the fund had raised a total corpus of Rs 175 crore. The firm made headlines in March last year for closing its third fund at $100 million.
Endiya is known as an early backer of high-growth companies such as HR tech unicorn Darwinbox; AI startup Myelin Foundry; compliance automation firm Scrut Automation; and lending platform Kissht.
