India Quotient Raises USD 129 Mn for Fifth Early-Stage Fund The firm aims to invest INR 1–15 crore in pre-seed, seed, and idea-stage startups across SaaS, fintech, D2C brands, agritech, and content platforms, focusing on early-stage innovation and growth.
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Early-stage venture capital firm India Quotient has secured USD 129 million (approx. INR 1,132 crore) from a mix of domestic and global investors for its fifth fund, Fund V.
The firm plans to deploy capital into pre-seed, seed, and idea-stage startups across sectors including SaaS, fintech, direct-to-consumer brands, agritech, and content platforms. Investment sizes are expected to range from INR 1 crore to INR 15 crore.
In a post on X, India Quotient highlighted its approach to early-stage investing, stating, "We will continue to back founders long before their ideas become sectors. This has been true from the early days of India social, brands, content, digital lending, India software, agritech, and many more."
The firm emphasised that it will act as a patient investor, avoiding pressure on portfolio companies for rapid up rounds, high dilution, or early liquidity.
Founded in 2012 by Anand Lunia and Madhukar Sinha, India Quotient focuses on startups that address the needs of Indian consumers and small and medium enterprises.
Notable early investments include ShareChat, Sugar Cosmetics, Lendingkart, Kuku FM, and Vyapar.
With Fund V, the firm has expanded its partnership team, welcoming Kanika Agarrwal and Sahil Makkar alongside existing partners Gagan Goyal, Lunia, and Sinha. The fund will maintain the firm's strategy of supporting founders at the idea stage, offering follow-on support, and prioritizing product-market fit over valuation growth.
India Quotient has previously raised four funds, including USD 80 million Fund IV in 2021, which supported over 35 early-stage startups.
Over the past decade, the firm has backed more than 100 startups, with several portfolio companies attracting follow-on investment from global investors. The latest fund and expanded team aim to further scale India Quotient's impact in nurturing early-stage ventures across India.
