MUMBAI : India Quotient, a local start-up venture capital fund, said on Tuesday it had raised $ 64 million for its fourth fund.
The fund was launched in February with the aim of building a corpus of $ 80 million from national and global allocations, the company said.
The national part of the fundraising was largely oversubscribed. It was raised with large family offices and other institutional investors in India. The fund is currently in talks with global investors for the rest of the money.
India Quotient has supported over 80 start-ups over the past eight years, including ShareChat, Sugar Cosmetics, Lendingkart, and PagarBook. The fund returned the main investment from its previous programs to investors, he said.
“We will continue to push the boundaries of investing at an early stage and take a stand on things that are not yet waves and spaces that are not yet sectors. While everyone is talking about investing in returning founders, we believe that sometimes great innovation needs young people and new entrepreneurs, ”said Anand Lunia, founding partner of India Quotient.
India Quotient has appointed Gagan Goyal, a former entrepreneur and alumnus of IIT Bombay, as a general partner with Lunia and Madhukar Sinha, the firm said.
India Quotient is industry independent and has invested in fintech, edtech, healthcare, SaaS, social media, agri-tech and consumer technology.
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