India Quotient closes $64 million for its fourth fund

CHENNAI: Early stage VC firm India Quotient has raised $64 million for its fourth fund. The fourth fund was launched in February 2021 to build a corpus of $80 million from domestic and global allocations.
The current funds have been raised from top family offices and other institutional investors in India. The domestic leg was hugely oversubscribed, the firm said. It is in discussions with global investors for the rest of the money.
India Quotient also welcomed Gagan Goyal, an ex-entrepreneur and IIT Bombay alumnus, as a general partner in the team along with Anand Lunia and Madhukar Sinha.
India Quotient’s portfolio includes bets on startups such as ShareChat (now a unicorn), Sugar Cosmetics, Lendingkart, PagarBook and others. In a key benchmark, the fund says it has returned the principal investment on its previous schemes to investors.
“We will continue to push the boundaries in early stage investing and take positions in things that are not waves yet and spaces that are not sectors yet. While everyone has been talking about investing in returning founders, we feel that great innovation sometimes needs freshers, youngsters and first-time entrepreneurs. We are in the business of investing in exceptions and outliers and we will not fall into lazy pattern matching,” Anand Lunia, founding partner, India Quotient, said.
He added that Indian families and HNIs are directly engaging with VC firms today, a great sign of wealth creation within India in times to come.
India Quotient is sector agnostic, and the firm typically gives out the first cheque for a startup backing them with funds from $250,000-1.25 million.

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