Private Equity

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India Quotient raises $64-M domestically for Fund IV; $40-M for Opportunities fund

Economic Times  

Mumbai-based India Quotient, a seed-to-early-stage venture capital firm, has made the first close of its fourth fund at USD 64 million from domestic investors, including leading family offices. Flipkart co-founder Binny Bansal, Paytm's founder Vijay Shekhar Sharma and Makemytrip co-founder Deep Kalra are among the fund's investors. The fund is also in talks with foreign investors to raise a further USD 80 million. Some of the fund's LPs are also investors in India Quotient's portfolio companies like ShareChat and Sugar Cosmetics, where it has taken partial exits. India Quotient has also closed a USD 40 million Opportunities Fund, which is typically used to double down on best performing companies in the portfolio. Started by Anand Lunia and Madhukar Sinha in 2012, India Quotient's first fund was USD 6 million in size while the next two had a corpus of USD 20 million and USD 60 million, respectively.