India Quotient, an early-stage venture capital fund, said on Thursday the launch of its fourth fund for Indian startups worth $80 million (Rs 570 crore approximately). The corpus has been raised from global and domestic investors.
The fund will be focused on supporting startups in the SaaS, social media, D2C, education technology and fin-tech sectros, said India Quotient, adding it will support 35-40 "game-changing ideas".
India Quotient has funded close to 70 startups over the last eight years. Of the portfolio companies the venture fund has backed, nearly 80 per cent have gone on to raise funds for follow-on rounds from marquee global investors and nearly a third of the companies have gone on to achieve massive scale for their businesses. India Quotient has supported LendingKart and ShareChat.
“We are extremely excited to launch our fourth fund after 5 successful career investment cycles till date, at an inflection point in India’s growth story. We will back founders when nobody understands them, and we will back them again and again. But it’s mandatory that they aim very high, have the capability to take on large incumbents and want to build companies that go on to IP0. They could have easily gone and worked for Facebook or Google, but they won’t just settle for that,” said Anand Lunia, founding partner at India Quotient: