The Wealth Company Alternates has announced that its Bharat Value Fund, a Category II AIF, has invested approximately Rs 400 crore in Boldfit, a homegrown sports brand, as part of its Series B funding round.
A statement said that the investment will support Boldfit’s next phase of expansion, with investments planned for nationwide retail expansion, product innovation and manufacturing. The company will also selectively pursue inorganic opportunities to strengthen its category presence and capabilities.
Founded in 2018 by Pallav Bihani, Boldfit had previously raised Rs 110 crore from global venture capital firm Bessemer Venture Partners in its Series A funding round in 2024. The company also counts prominent Indian sportspersons KL Rahul and Sania Mirza among its investors.
Boldfit Founder and CEO Pallav Bihani said, “We’re building a deeply integrated sports business, investing in product innovation, manufacturing excellence and nationwide retail to create the scale and capabilities required to serve India’s sporting ambitions.”
This is the fourth investment by Bharat Value Fund in the past 12 months, with an average deal value of around Rs 400 crore each.
“India is undergoing a fundamental shift in how it engages with fitness and sports. Active living is no longer confined to a facility or occasional play- it is transitioning into a frequent, daily household habit across the country. Pallav has achieved what few direct-to-consumer founders are able to manage - rapid, category-defining scale anchored by profitability. Our investment reflects our conviction in the company’s growth potential and our approach of partnering with businesses that have the ability to build enduring scale and long-term value," Madhu Lunawat, Founder and Whole-time Director, Wealth Company Asset Management Private Limited, said.
According to the statement, Boldfit serves over two crore customers annually and has grown at a CAGR of 80%+ for the last three years.
India’s fitness and sports goods market is estimated at approximately $16 billion and projected to grow at a CAGR of over 16% reaching $35 billion by FY31 underpinned by rising disposable incomes, a young population, growing health awareness and the mainstreaming of active lifestyles and athleisure.