Bengaluru-based fintech founder Anuj Srivastava, who is also the chief executive officer of OnFinance AI, has apologised after publicly criticising early-stage venture firm All In Capital and its founding partner Kushal Bhagia for not investing in it.


In October 2022, All In Capital declined to fund OnFinance AI at the pre-seed stage, stating it would “pass on the opportunity”. Records later shared by Bhagia on X show the firm nonetheless facilitated introductions to other investors and remained available for guidance.

OnFinance is an early-stage startup building financial infrastructure products, while All In Capital is an India-focussed pre-seed venture firm backing companies across the fintech, SaaS, and deeptech sectors.

Subsequent WhatsApp conversations indicate Srivastava continued to seek Bhagia’s advice on fundraising, including term sheet evaluation and investor access.

The issue came to light after Srivastava criticised the venture firm’s `vision’ in a post on X (since deleted). Bhagia responded, sharing emails and chat excerpts that showed the firm had declined quickly but constructively.

The response drew support from multiple founders, investors, and limited partners.

Hemant Mohapatra, partner at venture capital firm Lightspeed Venture Partners, and Puneet Kumar, former partner at Steadview Capital, came out in support of the VC firm, saying that it had managed the rejection appropriately.

Nikhil Chainani, cofounder of Kodo, a fintech company that provides corporate cards and spend management solutions for businesses, said the firm is “direct, helpful, and honest,” particularly during difficult phases.

Gaurav Seth, founder of Piersight Space, said All In Capital was an early backer and continued support through different stages, and also participated later in its funding.


Aakrit Vaish, cofounder of conversational AI company Haptik and an angel investor, described Bhagia as “hard working and sincere,” highlighting his non-traditional path into venture capital.


Srivastava later issued an apology, stating he had “misunderstood the feedback” and should have addressed concerns privately. He added that OnFinance AI had since evolved beyond the pre-seed stage and expressed respect for Bhagia.

Bhagia accepted the apology, calling the matter “water under the bridge.”