LetsVenture floats dealmaking platform for ultra-rich, family offices

By Narinder Kapur

  • 08 May 2020

Angel investor LetsVenture has floated a new platform targeted at ultra-high-net-worth individuals (UHNIs) and family offices, according to a report.

The platform, LetsVenture Plus, will operate on an invite-only basis and will allow both UHNIs and family offices to invest in growth-stage startups, The Economic Times reported, citing company executives.

It will also allow these investors to come in as limited partners (LPs) on funds.

Accel and Chiratae Ventures-backed LetsVenture has also roped in former Kotak Mahindra Bank executive Nimesh Kampani as its president. Kampani, who will head LetsVenture Plus, said the new platform will look at Series B and the above transactions and will also assess funding allocations.

VCCircle has reached out to LetsVenture on the details of the new platform and will update this report accordingly.

Shanti Mohan, CEO at LetsVenture, said the new platform will also bring exclusive and tailored investment opportunities to these its high-net-worth and family office members.

“Family offices and UHNIs typically get access to growth-stage companies, or unicorns, by being an LP in a fund. We want to try and break that information and price arbitrage in the marketplace, and bring in greater transparency across the board,” he said.

Bengaluru-based LetsVenture, operated by LetsVenture Technologies Pvt. Ltd, says it has facilitated at least 220 deals with a cumulative value of $100 million raised from at least 6,500 angel investors, according to its website.

Startups that have been funded through the overall LetsVenture platform include MyUpchar, Adpushup, Purple Style Labs, StayAbode, Innov8 and DailyNinja.

Earlier this week, LetsVenture’s Early Adapters Syndicate invested an undisclosed amount in Inc, which operates an eponymous software-as-a-service-based no-coding platform.

Last month, LetsVenture participated in the seed funding round of Expertrons Pvt. Ltd, which operates an artificial intelligence-based video bot platform focussed on helping students and professionals with their career management and goals. Others that participated in that round included Iceland Venture Studio and Nikhil Vora of Sixth Sense Ventures.

In March, it took part in funding last-mile outreach and data-collection service Anaxee Digital Runners Pvt. Ltd. The round was led by Orios Venture Partners, with participation from the Keiretsu Forum, GAIN, and the Swan Angel Network.

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