LetsVenture, an online funding platform that enables startups looking to raise seed capital to create investment ready profiles online, and connect to accredited investors, announced it has launched LetsVenture Plus, which will allow ultra-high net-worth individuals (UHNIs) and family offices to invest in growth stage startups, as well as come in as Limited Partners in global funds.
LetsVenture Plus will be headed by Nimesh Kampani, who was formerly with Kotak Mahindra Bank. Founded in 2013, LetsVenture is backed by Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Mohandas Pai, Anupam Mittal, Rajan Anandan, among others.
“There was a need to cover the entire startup ecosystem, and what LetsVenture Plus will do is, look at all Series B transactions, and going all the way up to the unicorns. We will look at allocations for funding, and raise it from our network of investors,” Kampani told ET.
The platform aims to bring curated and exclusive opportunities to HNIs and family offices at ticket sizes that suit them and provide them access to an asset class that continues to remain inaccessible, according to Shanti Mohan, chief executive of LetsVenture.
“Family offices and UHNIs typically get access to growth-stage companies, or unicorns, by being an LP in a fund. We want try and break that information and price arbitrage in the marketplace, and bring in greater transparency across the board,” Mohan said.
This is the second product launched by LetsVenture in 2020. In January, the deals syndicate had launched MyStartupEquity, its employee stock options and cap table management product, and which was also the first such concerted effort in the country’s ecosystem to digitise, manage and liquidate startup employee stock grants.
The successive launches are part of LetsVenture’s overarching strategy of being an all-round private capital markets partner for the entire ecosystem.
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