The Wealth Company AIF invests Rs 400 crore in Boldfit

The Wealth Company Alternates, part of the Pantomath Group, has invested around Rs 400 crore in fitness and sports products brand Boldfit as part of its series B funding, the company announced on Monday.

The investment will support Boldfit’s expansion into physical retail, product innovation, and manufacturing, as well as acquisitions to strengthen its presence across categories.

Founded in 2018 by Pallav Bihani, Boldfit offers sportswear, athletic footwear, sports equipment, and fitness essentials. It has grown at a compound annual growth rate (CAGR) of more than 80% over the past three years and serves over 2 crore customers annually, according to a company statement.


Boldfit had previously raised Rs 110 crore from Bessemer Venture Partners in its series A round in 2024. Sportspersons KL Rahul and Sania Mirza are among its investors.

The investment marks the fourth major deal by the Bharat Value Fund in the past 12 months, following investments in Zetwerk Manufacturing, Amnex Infotechnologies, and Big Mishra. The fund has deployed an average of around Rs 400 crore across these investments.

India’s fitness and sports goods market is estimated at approximately $16 billion and projected to grow at a CAGR of 16%, reaching $35 by FY31, underpinned by rising disposable income, a young population, growing health awareness, and adoption of an active lifestyle and athleisure.

“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 household habit across the country,” said Madhu Lunawat, founder and whole-time director, Wealth Company Asset Management Private Limited.

“Our ambition is to see India become a sporting powerhouse, with greater participation, stronger sporting talent, and many more medals on the world stage. Boldfit intends to play a meaningful role in that transformation,” said Bihani, who’s also the CEO of Boldfit.

Avendus Capital acted as the exclusive financial adviser to Boldfit and its shareholders on the transaction.