To focus on a new vertical that helps family offices find investment opportunities in startups.
LetsVenture, a Bengaluru-based technology platform that connects angel investors with startups, is expanding its scope to address the needs of growth-stage startups. Besides, it would also focus on a new vertical that helps family offices find investment opportunities in startups.
“As an extension of the support to early growth stage entities, we have recently started `Let’s Go’ to support the funding needs of startups that matured to the growth stage,” said Shanti Mohan, founder and chief executive officer.
Through this new window is open for all growth-stage startups, it would give preference to the startups that received initial funding on it.
The platform has also launched an exclusive window for investors from family offices, with turnover ranging from ₹500-1,000 crore. “We have about 127 such members on board. They have so far invested ₹70 crore in the last six months. This segment is growing,” she said.
She’s in the city in connection with the launch of T-Angel, an initiative by T-Hub and the Telangana Government, to pool up angel investors to help the startup that are in dire need of angel funding. Lets Venture is also a partner in the initiative.
“There is money out there waiting to be invested. But there’s a section of investors who don’t know where to invest. This is not much awareness on this unique asset class,” she said.
The platform, with over 6,500 angel investors from 50 countries, is generating huge interest among the new breed of investors. That about half of the 6,500 members are new members show the appetite among the prospective investors.
“The list includes second-generation entrepreneurs, top business executives who understand well how companies are built and global Indians who would love to contribute back to India if they find a trusted platform,” she pointed out.
She said the platform receives about 200 applications from investors every month. “We don’t take all of them on board. Our teams would talk to them, explain the nuisances of investments and try to understand their interest. We pick about 60 out of them ,” she said.
The six-year-platform facilitated investments to the tune of $85 million so far. “Several investors and startup founders do not understand how an investment should happen. They need to conform to the statutory norms. It’s not about transferring the money into the accounts. We ensure all the investments follow the statutory norms,” she said.
The platform publishes quarterly reports to update the investors about the maturity levels of the startups in which they invested.