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Private equityFirmbuyoutlower middle market

Zephyr Management, L.P.

Private Equity

New York, NY

Zephyr Peacock India provides growth capital and management support to small and mid-sized enterprises in India.

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:87f9894e-cbd8-4674-80a9-fdec6fe26aab

Data as of Sep 19, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures, news and newswire. Page built Sep 19, 2026, 11:11 PM UTC and rebuilt at most every 15 minutes.

Relationships: 90
Dated events: 40
On other graphs: 3
Observed: Sep 13, 2026 to Sep 19, 2026
33 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Venture Capitalidentity

Zephyr Management, L.P.

Venture manager · shared crd

Independent Sponsorsidentity

Zephyr Management, L.P.

Capital provider to sponsors · shared crd

RIA / Wealth Managementidentity

ZEPHYR MANAGEMENT, L.P.

Registered adviser · shared crd

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Funds: 18
PE funds: 17
Vintages: 2013 to 2025
PE GAV, 2024 filing: $143Mgross asset value on Form ADV; never dry powder
Regulatory AUM: $191M
Investments: 27
Active investments: 24
Size band: LOWER MIDDLE MARKETderivedproxy: $0.14bn Private Equity Fund GAV on the Form ADV filed 2024-03-27
Latest Form D: Feb 5, 2026
Latest ADV filing: Mar 27, 2024
Employees (ADV): 23
Website: zephyrpeacock.com

Funds

Fund	Vintage	Lifecycle	ADV type	Form D sold	GAV
Zephyr Peacock India Growth Fund II U.S., L.P.	2025	Fundraising	n/a	$22.6M	n/a
Zephyr Mantra LLC	2024	Unknown	Private Equity Fund	n/a	$16.1M
Zephyr Acorn Venture Fund LP	2023	Early deployment	Private Equity Fund	n/a	$3.7M
ZP Maverix Spv, LLC	2023	Unknown	Private Equity Fund	n/a	$691,390
Zephyr Edpartners LLC	2022	Unknown	Private Equity Fund	n/a	$1.0M
Acorn Africa II LLC	2019	Mature	Private Equity Fund	n/a	$2.1M
Zephyr Peacock India Growth Fund U.S., L.P.	2019	Wound down	Private Equity Fund	n/a	$42.5M
Zephyr Peacock India Growth Fund Limited	2019	Mature	Private Equity Fund	n/a	$68.8M
Acorn-Yum Holding LLC	2019	Harvest	Private Equity Fund	n/a	$121,746
African Agricultural Capital Fund LLC	2019	Harvest	Private Equity Fund	n/a	$820,427
Acorn Africa LLC	2017	Mature	Private Equity Fund	n/a	$6.6M
ZP II Trimax Co-Investment Trust	2015	Harvest	Private Equity Fund	n/a	$3,326
ZP Trimax, Ltd	2013	Wound down	Private Equity Fund	n/a	$268
Zephyr Peacock India Fund III Limited	2013	Harvest	Private Equity Fund	n/a	$27.5M
Zephyr Peacock India III Fund	2013	Harvest	Private Equity Fund	n/a	$12.2M
Zephyr Peacock India II Trust	n/a	Harvest	Private Equity Fund	n/a	$1.1M
Zephyr Peacock India Fund II, Limited	n/a	Harvest	Private Equity Fund	n/a	$2.7M
Zephyr Peacock India Fund I, L.P.	n/a	Wound down	Private Equity Fund	n/a	$1.8M

Investments

Company	State	Role	Control	Invested	Exited	Status
Showroom B2B	n/a	unknown	unknown	Mar 23, 2026	n/a	active
India rights	n/a	Add on	control	May 13, 2025	n/a	active
Swarna Pragati	n/a	unknown	unknown	n/a	n/a	active
Metro	n/a	unknown	unknown	n/a	n/a	active
Maxop	n/a	unknown	unknown	n/a	n/a	active
Milessoftware	n/a	unknown	unknown	n/a	n/a	active
BatX	n/a	unknown	unknown	n/a	n/a	active
Pebs Pennar	n/a	unknown	unknown	n/a	n/a	active
Agnit	n/a	unknown	unknown	n/a	n/a	active
Curefoods	n/a	platform	unknown	n/a	n/a	active
Unnati	n/a	unknown	unknown	n/a	n/a	unknown
Poshn	n/a	unknown	unknown	n/a	n/a	unknown
Maverix	n/a	unknown	unknown	n/a	n/a	unknown
Mpower finanacing	n/a	unknown	unknown	n/a	n/a	active
Aizant	n/a	unknown	unknown	n/a	n/a	active
Varthana	n/a	unknown	unknown	n/a	n/a	active
Time7	n/a	unknown	unknown	n/a	n/a	active
UtkalTubers	n/a	unknown	unknown	n/a	n/a	active
Agnit B&W	n/a	unknown	unknown	n/a	n/a	active
Zippmat	n/a	unknown	unknown	n/a	n/a	active
ZippMat B&W	n/a	unknown	unknown	n/a	n/a	active
20Cube	n/a	unknown	unknown	n/a	n/a	active
Vidyut	n/a	unknown	unknown	n/a	n/a	active
Unnati Agritech	n/a	unknown	unknown	n/a	n/a	active
e2E Rail	n/a	unknown	unknown	n/a	n/a	active
Ripplr	n/a	unknown	unknown	n/a	n/a	active
Shiksha	n/a	unknown	unknown	n/a	n/a	active

Relationships

showing 80 of 90

Invested in (28)

→ e2E RailCompanyunknown
factDFX's own graph, The subject's own site
→ VidyutCompanyunknown
factDFX's own graph, The subject's own site
→ ShikshaCompanyunknown
factDFX's own graph, The subject's own site
→ UtkalTubersCompanyunknown
factDFX's own graph, The subject's own site
→ MetroCompanyunknown
factDFX's own graph, The subject's own site
→ MilessoftwareCompanyunknown
factDFX's own graph, The subject's own site
→ AizantCompanyunknown
factDFX's own graph, The subject's own site
→ Agnit B&WCompanyunknown
factDFX's own graph
→ Time7Companyunknown
factDFX's own graph, The subject's own site
→ AgnitCompanyunknown
factDFX's own graph, The subject's own site
→ Pebs PennarCompanyunknown
factDFX's own graph, The subject's own site
→ ZippmatCompanyunknown
factDFX's own graph, The subject's own site
→ CurefoodsCompanyplatform
factNews and newswire, DFX's own graph, The subject's own site
→ VarthanaCompanyunknown
factDFX's own graph, The subject's own site
→ Showroom B2BCompanyunknown
factDFX's own graph, The subject's own site
→ MaxopCompanyunknown
factDFX's own graph, The subject's own site
→ BatXCompanyunknown
factDFX's own graph, The subject's own site
→ Swarna PragatiCompanyunknown
factDFX's own graph, The subject's own site
→ 20CubeCompanyunknown
factDFX's own graph, The subject's own site
→ Unnati AgritechCompanyunknown
factDFX's own graph
→ ZippMat B&WCompanyunknown
factDFX's own graph
→ RipplrCompanyunknown
factDFX's own graph, The subject's own site
→ Mpower finanacingCompanyunknown
factDFX's own graph, The subject's own site
→ India rightsCompanyAdd on
May 13, 2025 to presentfactNews and newswire
← SandMartin Impact Capital LLPFirmunknown
factNews and newswire
→ MaverixCompanyunknown
factThe subject's own site
→ UnnatiCompanyunknown
factThe subject's own site
→ PoshnCompanyunknown
factThe subject's own site

Executive of (1)

← Mukul GulatiPersonPresident and CIO
factNews and newswire

Employs (12)

→ Nisha BijuPersonAdministrative Executive
factThe subject's own site
→ Rishabh AggarwalPersonAnalyst, Research and Investments
factThe subject's own site
→ Thomas Corcoran BarryPersonChairman, Director And Shareholder
Dec 1, 1994 to presentfactForm ADV, The subject's own site
→ Yash BerliaPersonAnalyst, Research and Investments
factThe subject's own site
→ Aman SoniPersonAssociate, Research and Investments
factThe subject's own site
→ Bharadwaj ReddyPersonSenior Associate, Finance
factThe subject's own site
→ Laldinpuii RaltePersonVice President, Marketing and ESG
factThe subject's own site
→ Mukul GulatiPersonShareholder
Jan 1, 2023 to presentfactForm ADV, The subject's own site
→ Nikhil SultaniaPersonVice President, Accounts and Finance
factThe subject's own site
→ Om PawaskarPersonAssociate, Investments and Research
factThe subject's own site
→ Pankaj Ravinder RainaPersonLimited Partner
Jan 1, 2022 to presentfactForm ADV
→ Constantina KeriazesPersonSecretary And Limited Partner
Oct 1, 2001 to presentfactForm ADV

Firm member (1)

→ ZephyrFirmAnchor adviser
factDFX's own graph

Manages (14)

→ Zephyr Peacock India Growth Fund II U.S., L.P.FundInferred from form d related person name
Feb 5, 2026 to presentinferenceForm D
→ Zephyr Peacock India III FundFundPrivate Equity Fund
Apr 1, 2013 to presentfactForm ADV
→ African Agricultural Capital Fund LLCFundPrivate Equity Fund
Mar 25, 2019 to presentfactForm ADV
→ Zephyr Edpartners LLCFundPrivate Equity Fund
Mar 16, 2022 to presentfactForm ADV
→ Zephyr Acorn Venture Fund LPFundPrivate Equity Fund
Mar 31, 2023 to presentfactForm ADV
→ ZP Maverix Spv, LLCFundPrivate Equity Fund
Mar 31, 2023 to presentfactForm ADV
→ Zephyr Mantra LLCFundPrivate Equity Fund
Mar 27, 2024 to presentfactForm ADV
→ Zephyr Peacock India Fund I, L.P.FundPrivate Equity Fund
Mar 30, 2012 to presentfactForm ADV
→ Zephyr Peacock India Fund II, LimitedFundPrivate Equity Fund
Mar 30, 2012 to presentfactForm ADV
→ Zephyr Peacock India II TrustFundPrivate Equity Fund
Mar 30, 2012 to presentfactForm ADV
→ Zephyr Peacock India Fund III LimitedFundPrivate Equity Fund
Apr 1, 2013 to presentfactForm ADV
→ ZP Trimax, LtdFundPrivate Equity Fund
Apr 1, 2013 to presentfactForm ADV
→ ZP II Trimax Co-Investment TrustFundPrivate Equity Fund
Jun 22, 2015 to presentfactForm ADV
→ Acorn Africa LLCFundPrivate Equity Fund
Mar 23, 2017 to presentfactForm ADV

Principal of (1)

→ Zephyr Peacock India Growth Fund II U.S., L.P.FundDirector
Feb 5, 2026 to presentinferenceForm D

Dated events

33 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Mar 23, 2026
Firm news
Zephyr Peacock India invests in Showroom B2B
The subject's own siteobserved 2 days ago
Occurred
Mar 16, 2022
Person left
Stephen Edward Canter (Chief Compliance Officer) no longer on Schedule A of Zephyr Management, L.P.
Form ADVobserved 6 days ago
Occurred
Jan 1, 2022
Person joined
Pankaj Ravinder Raina joined Schedule A of Zephyr Management, L.P. as Limited Partner
Form ADVobserved 6 days ago
Occurred
Mar 25, 2015
Person left
David William James Garrett (Limited Partner/Chairman Of Zephyr Management U.K., Ltd.) no longer on Schedule A of Zephyr Management, L.P.
Form ADVobserved 6 days ago
Occurred
Mar 25, 2015
Person left
Steven Andrew Ralph Bates (Chief Investment Officer - Marketable Securities/Limited Partner/Director Of Zephyr Management U.K., Ltd.) no longer on Schedule A of Zephyr Management, L.P.
Form ADVobserved 6 days ago
Occurred
Mar 25, 2015
Person left
Brian Peter Matthews (Compliance Officer And Director Of Zephyr Management U.K., Ltd.) no longer on Schedule A of Zephyr Management, L.P.
Form ADVobserved 6 days ago
Occurred
Mar 25, 2014
Person left
John Anthony Cerminaro (Chief Financial & Administrative Officer) no longer on Schedule A of Zephyr Management, L.P.
Form ADVobserved 6 days ago

Show 33 bookkeeping events

First seen by DFX
Sep 17, 2026
date not stated
SandMartin Impact Capital Announces Strategic Advisory Partnership with Zephyr Management
First seen by DFX
Sep 17, 2026
date not stated
Curefoods acquires India rights to Krispy Kreme, plans Northern expansion
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Curefoods Acquires Krispy Kreme’s South And West India Operations
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Ripplr hires banker for Series B round, net sales set to grow sixfold in this fiscal
First seen by DFX
Sep 17, 2026
date not stated
PE-VC exit deals rebound in Q3 2020
First seen by DFX
Sep 17, 2026
date not stated
Mid-stage investments will account for a major portion, once activity resumes: Zephyr Peacock India MD
First seen by DFX
Sep 17, 2026
date not stated
Checks on Chinese investments likely to keep Indian start-ups on tenterhooks
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Zephyr Peacock-backed Utkal Tubers appoints Vinod Bhat as CEO
First seen by DFX
Sep 17, 2026
date not stated
COVID-19 impact: VC, PE-VC exit deals tumble in Q1 2020
First seen by DFX
Sep 17, 2026
date not stated
Here is an investment checklist to identify resilient businesses by Pankaj Raina
First seen by DFX
Sep 17, 2026
date not stated
[Portfolio News] Zephyr Peacock backed 20Cube hires senior executives
First seen by DFX
Sep 17, 2026
date not stated
The potential positive economic impact of investment bubbles by Mukul Gulati
First seen by DFX
Sep 17, 2026
date not stated
SandMartin Impact Capital Announces Strategic Advisory Partnership with Zephyr Management
Occurred
Feb 5, 2026
Zephyr Peacock India Growth Fund II U.S., L.P. Form D/A: Form D amount sold up $12,000,000 to $22,600,000 (previous filing $10,600,000)
Occurred
Mar 27, 2024
Zephyr Mantra LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $16,068,190
Occurred
Mar 31, 2023
Zephyr Acorn Venture Fund LP first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $3,049,136
Occurred
Mar 31, 2023
Fund 805-3874061771 no longer reported on Form ADV by Zephyr Management, L.P.
Occurred
Mar 31, 2023
Fund 805-9194467165 no longer reported on Form ADV by Zephyr Management, L.P.
Occurred
Mar 31, 2023
ZP Maverix Spv, LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $702,813
Occurred
Mar 16, 2022
Zephyr Edpartners LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $417,481
Occurred
Mar 16, 2022
Fund 805-9019116689 no longer reported on Form ADV by Zephyr Management, L.P.
Occurred
Mar 19, 2020
Zephyr Peacock India Growth Fund first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $42,426,129
Occurred
Mar 25, 2019
Acorn-Yum Holding LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $260,462
Occurred
Mar 25, 2019
African Agricultural Capital Fund LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $6,971,419
Occurred
Mar 25, 2019
Zephyr Peacock India Growth Fund Limited first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $32,291,912
Occurred
Mar 25, 2019
Acorn Africa II LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $1,630,885
Occurred
Mar 25, 2019
Zephyr Peacock India Growth Fund U.S., L.P. first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $25,623,497
Occurred
Mar 23, 2017
Acorn Africa LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $1,460,000
Occurred
Jun 22, 2015
ZP II Trimax Co-Investment Trust first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $1,402,762
Occurred
Mar 25, 2015
Fund 805-1164713356 no longer reported on Form ADV by Zephyr Management, L.P.
Occurred
Apr 1, 2013
Zephyr Peacock India Fund III Limited first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $39,685,915
Occurred
Apr 1, 2013
Zephyr Peacock India III Fund first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $16,882,751
Occurred
Apr 1, 2013
ZP Trimax, Ltd first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $16,921,613

Who to call

the organisation, the role and the published line, with the filing or website that published it; revealed to signed-in accounts

The firm's published line

Revealable: 1 business phone (Form ADV), 1 office address (Form ADV), 1 website (Form ADV) · as of 2026-09-13

Mukul Gulati
Shareholder · Revealable: 1 professional profile (firm website)
Nisha Biju
Administrative Executive · Revealable: 1 professional profile (firm website)
Rishabh Aggarwal
Analyst, Research and Investments · Revealable: 1 professional profile (firm website)
Yash Berlia
Analyst, Research and Investments · Revealable: 1 professional profile (firm website)
Aman Soni
Associate, Research and Investments · Revealable: 1 professional profile (firm website)
Bharadwaj Reddy
Senior Associate, Finance · Revealable: 1 professional profile (firm website)
Laldinpuii Ralte
Vice President, Marketing and ESG · Revealable: 1 professional profile (firm website)
Nikhil Sultania
Vice President, Accounts and Finance · Revealable: 1 professional profile (firm website)
Om Pawaskar
Associate, Investments and Research · Revealable: 1 professional profile (firm website)

Also named here, with no published line of their own (reach them through the firm): Thomas Corcoran Barry (Chairman, Director And Shareholder), Pankaj Ravinder Raina (Limited Partner), Constantina Keriazes (Secretary And Limited Partner).

Who to call is the organisation, the person's role and the line they published themselves: a business phone, office address, website or profile link from Form ADV, Form 13F or their own website, with that source named on every value. The counts above are what a reveal returns; a personal email is rarely published, so most reveals are the firm's line. Never data bought from a provider, never anything personal. Reveals by plan

Provenance

Graph: Private Equity
Canonical id: dfx:pe:87f9894e-cbd8-4674-80a9-fdec6fe26aab
First observed: Sep 13, 2026
Last observed: Sep 19, 2026 12 h ago
Source families: Federal regulator filings, Firm and issuer disclosures, News and newswire
4 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.