Investment platform LetsVenture's portfolio now valued at $1.07 B
Online investment platform for startups LetsVenture's portfolio is now valued at $1.07 billion (as of November, 2019). The Bengaluru-based investment platform now has a 195 startup-strong portfolio.
Shanti Mohan, Co-founder and CEO of LetsVenture, said, “2019 has been a pivotal year for us as we step into the new decade. Having our portfolio hit a billion dollars is a true validation of value being created for our investors, while building the most trustworthy, founder-first, and compliant platform for early-stage fundraising.”
“The last decade was about developing the nascent ecosystem in India, with a focus on building strong fundamentals and growing organically. We believe, with a strong leadership team coming on board, the next year will be about truly leveraging all our learning from the last few years to scale the platform and becoming globally relevant,” she added.
In 2019, LetsVenture added 1,523 investors, a 23 percent rise over last year's number. The new additions comprise 28 percent of global investors. In fact, 21 percent of the investors came from the 'Rest of India', that is, from cities other than Bengaluru, Delhi-NCR, and Mumbai.
Since its inception in 2013, LetsVenture has facilitated over $100 million in investments. Its portfolio of startups have raised over $150 million in funding. In 2019 alone, 34 of LetsVenture's startups raised follow-on rounds, including Sugar Cosmetics, FleetX, Yulu, Khatabook, Medtrail, Sattviko, Trell, Original4Sure, MCaffeine, ClassPlus, myHQ, Meddo, Henry & Smith, Niki, Little Black Book, and Purple Style Labs.
Notable VCs participating in the uprounds included Tencent, GGV Capital, Sequoia, SAIF, 3one4 Capital, Strive VC, Sri Capital, GrowX, A91, and Venture Highway. In fact, Bajaj Auto led a strategic round in Yulu.
According to LetsVenture, multiples on this year's uprounds are in the range of 1.5x to 22x. Some previous years' uprounds have shown an upside of up to 74.3x.
(Edited by Athirupa Geetha Manichandar)