N+1 has roped in LetsVenture as the founding venture partner for its maiden $100 million fund.
Speaking on the development, Rahul Chowdhury, founder, N+1 Capital, said, “Raising venture capital is not appropriate for every type of business – there are lots of startups and SMEs with strong and steady state business models that get left out of the equity capital race. Our mission at N+1 Capital is to provide new-age entrepreneurs and asset-light businesses access to debt capital with flexibility.”
Managing partner, N+1 Capital, Singla, said, “We have a data-driven risk assessment technology model that makes it accessible for new age entrepreneurs and minimises human bias in decision making. Startups that are operational for over a year and have a minimum monthly revenue of Rs 50 lakh are eligible to raise funds from N+1 Capital.”
“LetsVenture is at a very exciting growth phase – we are today India’s most active investment platform with 30% market share and the highest liquidity. Now, with the N+1 offering on the platform, we will be providing the entire suite of fundraising products to startups – across equity and debt,” president of LetsVenture Plus, Nimesh Kampani, said.
“Similarly, for investors on our platform (angels, ultra-high net-worth individuals and family offices) investing in N+1 provides a good opportunity for them to balance their private market portfolios between equity and debt,” he further added.
Shanti Mohan and Kampani of LetsVenture will join N+1 Capital as venture partners.
Founded in 2013 LetsVenture aims to make the process of fundraising (early and growth stage) easy, efficient and transparent for both startups and investors.
In the last 6 years, LetsVenture, with its focus on early stage, has claimed to help more than 230 startups raise over $140 M on the platform. Today the marketplace has 20 Syndicates, 6,500+ investors from 52 countries, 200 institutional investors and 150+ family offices engaged with it.
The LV Angel Fund is a SEBI registered Angel AIF with AUM of $19 M. In 2019, LetsVenture launched LetsAccelerate to manage incubators, accelerators & corporate open innovation programmes; and MyStartupEquity, a SaaS platform for cap table and ESOP management.
The LetsVenture team is based in Bangalore, Mumbai and Delhi. LetsVenture is backed by Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Mohandas Pai, Anupam Mittal, Rajan Anandan, among others.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.