India Quotient raises $129 Mn for Fund V

Early-stage venture capital firm India Quotient has raised $129 million (Rs 1,132 crore) from domestic and global investors for its fifth fund (Fund V).

The firm will invest in pre-seed, seed, and idea-stage startups across sectors such as SaaS, fintech, D2C, consumer brands, agritech, and content platforms. Investment cheques will range from Rs 1 crore to Rs 15 crore.

Founded in 2012 by Anand Lunia and Madhukar Sinha, India Quotient focuses on backing startups addressing Indian consumer and SME needs. It was an early investor in ShareChat, Sugar Cosmetics, Lendingkart, Kuku FM, and Vyapar.

With the new fund, India Quotient has also expanded its partnership team, adding Kanika Agarrwal and Sahil Makkar alongside existing partners Gagan Goyal, Lunia, and Sinha.

The firm said Fund V will continue its strategy of supporting founders at the idea stage, offering follow-on support, and focusing on product-market fit rather than valuation growth.

India Quotient has previously raised four funds, including an $80 million Fund IV launched 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 raising follow-on rounds from global investors.