India Quotient, a homegrown early-stage venture capital firm, has closed its fifth fund at $129 million (about Rs 1,130 crore), confirming an earlier report by DealStreetAsia.
This represents the firm’s largest fundraise to date, aimed at supporting pre-seed and seed-stage startups across emerging sectors.
Founded in 2012, India Quotient has established itself as a key investor in consumer internet and fintech ventures. Its portfolio includes some of the country’s most notable startups, such as social media platform ShareChat, beauty brand Sugar Cosmetics, and digital lending firm LendingKart.
As much as 80% of the corpus in its fifth fund has come from global LPs, the firm said in a statement. In contrast, its previous funds were backed primarily by domestic investors.
India Quotient closed its fourth fund at $115 million in 2021 and its third vehicle at $60 million in 2019.
According to data available with Tracxn, India Quotient has so far made over 220 investments to date, with seed-stage deals accounting for the bulk of its activity. In the past five years alone, it has backed 43 companies at the seed stage, five at Series A, and one at Series C.
The firm’s average cheque sizes, per the same data, work out to about $1.3 million at seed, $3.1 million at Series A, and $10.5 million at Series C stages. Its recent investments include healthtech startup PlatinumRx, fintech firm DPDzero, and consumer brand True Diamond.
Among other VCs that have raised capital in India recently, Theia Ventures announced the first close of its maiden fund, anchored by British International Investment (BII) earlier this month.
