Investor marketplace LetsVenture launches LetsGrow to work with growth-stage startupsApurva P
LetsGrow aims to help startups go from Seed to Series A/B stage and assist them in finding the right metrics that could attract a VC for their follow-on rounds.
Backed by its network of angel investors and industry experts, LetsVenture has set up LetsGrow to help startups identify the right metrics that they would need to target when they raise growth capital of $1 million to $5 million. This announcement comes with the early validation it has with its portfolio companies like Trell and LetsMD, which recently raised growth capital with LetsVenture, a statement from the firm said.
LetsGrow will now aim to help startups go from seed to Series A/B stage and assist them in finding the right metrics that could attract a VC for their follow-on rounds.
Vivek Khare, who has been a strategic advisor at LetsVenture and an angel investor in Zomato, Meritnation, and Cashify, has come on board to lead this initiative. He has been an early leader at InfoEdge, scaling Naukri.com from early stage to category dominance and eventual IPO.
Founded by Shanti Mohan and Sanjay Jha, LetsVenture currently works with 125 family offices and corporates, and over 100 funds to facilitate the larger deal size of LetsGrow via the LV Titans platform.
Since its beginning in 2013, LetsVenture has enabled 170 funding rounds, with a total of $70 million being raised. Almost 33 of these startups have gone on to raise further rounds, and four have gotten acquired. The total current value of LetsVenture portfolio is worth $550million.
A few of its key portfolio companies like Testbook, DailyNinja, Bobble and MyUpchar have received high valuations in their follow-on rounds, the statement said.
LetsVenture instituted a system of startup reporting on its platform last year. Portfolio startups today use it to report to investors every quarter.