IndiaQuotient raises $129M for fifth fund, expands leadership team
The VC firm has been one of the early backers of companies like ShareChat, Sugar Cosmetics, Kuku FM, and Lendingkart, among others.
Early-stage VC firm IndiaQuotient has become the latest venture capital firm to raise a new fund this year. The Bengaluru-based firm has raised Rs 129 million for its fifth fund, making it its largest ever fund, to back pre-seed and seed-stage companies.
“We will continue to back founders long before their ideas become 'sectors'. This has been true from the early days of India social, brands, content, digital lending, India software, agritech, and many more,” the firm said in a post on X (formerly Twitter).
The firm added that it does not intend to pressure portfolio companies for up rounds, high dilution or early liquidity, and will come in as patient investors. It also said it is looking to play the long game and to make money only through long-term company success.
Additionally, the firm added that the team will be “very selective” while choosing to make investments, focusing on product-market fit as a metric.
With the new fund, the firm is also expanding its leadership team with Kanika Agarrwal and Sahil Makkar joining Anand Lunia, Madhukar Sinha, and Gagan Goyal as Partners to help facilitate more deals.
IndiaQuotient had previously raised $80 million for its fourth fund and had a target of investing in 35-40 startups at their early stages. The firm’s third fund had a target corpus of $60 million.
Some of IndiaQuotient’s portfolio companies include cosmetics brand Sugar, daily shuttle services provider Cityflo, social network platform ShareChar, and micro-drama and audio series platform KukuFM, among others.
Edited by Jyoti Narayan