Synopsis
India Quotient, a seed-to-early-stage venture capital fund, has successfully raised $129 million for its fifth fund. The firm also announced the elevation of Kanika Agarrwal and Sahil Makkar to partner roles, strengthening its leadership team. Known for early investments in companies like ShareChat and Sugar Cosmetics, India Quotient continues its focus on supporting emerging businesses.
India Quotient, a seed-to-early-stage venture capital firm which has backed the likes of ShareChat, Sugar Cosmetics, Lendingkart, Kuku FM, and Vyapar, on Wednesday said that it has raised $129 million (about Rs 1,132 crore) for its fifth and largest fund till date.
The firm also elevated Kanika Agarrwal and Sahil Makkar as partners. They will join Anand Lunia, Madhukar Sinha, and Gagan Goyal in the leadership team.
“As we begin investing from our fifth fund, here are some of the key things we will focus on: backing founders at every step; providing bridge funding or pro-rata support, no pressure for up-rounds, high dilution, or early liquidity; and prioritising product–market fit (PMF) over vanity metrics,” the firm said in a LinkedIn post.
Launched in 2012 by Lunia and Sinha with the aim of investing in startups that develop solutions for India-specific problems, India Quotient typically invests anywhere between Rs 1 and 15 crore in its portfolio companies.
The firm’s first $6 million fund in 2013 backed 21 startups, including Sugar Cosmetics, LendingKart, IIMJobs, and 91mobiles. Its second fund, launched in 2015 with a corpus of $20 million, backed 20 startups.
In 2018, the firm announced its third fund worth $60 million and went on to invest in 31 companies. The fourth fund, introduced in 2021 with a corpus of $115 million, has invested in over 14 startups, including the likes of Sharechat, KukuFM, Lokal, Masai School, Vyapar, WebEngage, and FabAlley.
The firm’s early investors include high net-worth individuals such as Paytm founder Vijay Shekhar Sharma, UpGrad cofounder and chairperson Ronnie Screwvala, and MakeMyTrip founder and chairman Deep Kalra.
Other venture capital players in this space include Blume Ventures, Prime Ventures, Aavishkaar Capital, and 3one4 Capital.
Source: www.economictimes.indiatimes.com