The company has raised a total of $23 million in two funds, investing in over 40 startups. Its first fund closed back in 2012 where it closed $5 million, while its second fund clocked $18 million in 2015.
India Quotient, Venture capital firm, has raised $30 million closed of its $60 million fund. Indian origin Gulf based billionaire Dr BR Shetty invested over $10 million with other high net individuals and government institutions participating in the round. Investors that have also backed the fund include Binny Bansal – Co Founder of Flipkart, Singapore based family office RB Capital and Ashvin Chadha – Founder of venture debt firm Anicut Capital.
Commenting on the funds raised, Anand Lunia, founding partner at India Quotient quoted, “A lot of our companies go out and raise money very soon, but we want to do less of that. We will put the first $1 million in the company ourselves and fund it for two years as most early-stage companies right now are getting funded for only 12 months.”
Further co-founder Prerna Bhutani stated that the company is planning to increase its ticket size to $500,000 so that startups won’t have to hunt for investments after 18-24 months. She added, “Even though this continues to be a seed fund, the investment will be higher than before.”
The fund is further expected to close in the next six months. The company has raised a total of $23 million in two funds, investing in over 40 startups. Its first fund closed back in 2012 where it closed $5 million, while its second fund clocked $18 million in 2015.
The company will continue to be sector agnostic and will use the freshy secured funds to invest in sectors like fintech, healthcare, etc
India Quotient was founded by IIM alumni Anand Lunia and Madhkar Sinha. Before starting the fund, Anand worked as the CFO at VC firm Seedfund while Madhkar was an investment manager at VC firm Aavishkar. The company later added Prerna Bhutani and Gagan Goyal as partners. The firm mainly invests in consumer internet startups and companies, avoids getting into software startups.