Bengaluru: Its founding partner Anand Lunia told MINT in an interview that Bengaluru India Miterient hopes to raise $130 million for its fifth fund, with nearly 80% of its commitments expected to come from global investors.
This marks a reversal of its previous capital, and for this, it raises most of its capital from domestic investors. “Because of past funding experience, Indian investors often want to exit faster. Extremely good performance compared to the gains in the public market, and there is also some matching pressure,” Lunia said. “It’s also because they were early in this asset class. So we’re going to flip it now because we’re getting good interest from global investors as well.”
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Indian firms have partially withdrawn from portfolio companies of some companies, such as Vyapar, Sugar Cosmetics and Giva, for liquidity. So far, it has returned ₹600 million objections ₹It has raised Rs 1.6 million crore.
It returned its first fund in multiples of 5.9 times. Lunia said its second fund has returned 1.5 times so far, but has returned nearly 6 times more funds through the secondary schools of Sharechat and Sugar Cosmetics, such as the First Fund, such as the First Fund. In the third fund, so far, it has returned 35% of the capital raised.
Previous supporters of the Indian business include Flipkart co-founder Binny Bansal, RB Investments (the home office of Singapore-based Rajesh Bothra), Deep Kalra of Makemytrip and Vijay Shekhar Sharma, founder of Paytm.
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The company’s previous funding was $109 million (raised in 2021), $64 million (2018), $20 million (2015) and $6 million (2013).
“I prefer to raise a small fund because I want to bet from the company from the idea stage of solving the tough problems. We can’t cut seeds with a very large fund. We’re happy to take risks to the company early on,” Lunia said.
Betting on Balat
The largest new fund ever is expected to close in the middle of this year. It will continue to support early stage companies that focus on solving problems for people outside the Metropolitan Metropolis. The investment company is largely underindustrial, but plans to focus on areas such as Edtech, consumer, software and digital dopamine.
Lunia said the venture capital firm is trying to invest in companies that not only solve urban class problems. “In Edtech, we always search for companies that produce products at a price point ₹100-200. In India, if the company prices the product properly, it will be so large. ”
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“Other important sectors are digital dopamine, including gaming, betting and astrology – software and consumers. We are evaluating opportunities for fast commerce and we understand that several verticals outside of groceries can emerge from rapid delivery.” Lunia adds explain.
Founded by Lunia and Madhukar Sinha in 2011, the Indian business has supported more than 80 early-stage startups, including Lendingkart, Propelld, Faballey, Citiflo and Pagarbook.
