by StrideOne, a non-banking financial company (NBFC) formed by the founders of venture debt firm Stride Ventures, is in advanced talks to acquire LetsVenture, an investment platform for startups.
The deal is expected to be worth around $100 million, according to people familiar with the matter. If the deal goes through, it will be the first major acquisition in the Indian startup investment ecosystem in recent months.
LetsVenture was founded in 2013 by Vaibhav Domkundwar and Alok Goel. The company provides a platform for investors to connect with startups and invest in them. LetsVenture has raised over $30 million in funding from investors such as Sequoia Capital, Accel Partners, and Blume Ventures.
StrideOne was founded in 2021 by Rajat Agarwal, Shriram Kalyanaraman, and Ashish Agarwal. The company provides debt financing to startups. StrideOne has raised over $200 million in funding from investors such as Sequoia Capital, Matrix Partners, and Elevation Capital.
The acquisition of LetsVenture would give StrideOne a platform to reach a wider pool of investors. It would also give StrideOne access to LetsVenture’s data and analytics capabilities.
“We are excited about the potential of this partnership,” said Rajat Agarwal, CEO of StrideOne. “LetsVenture has built a strong platform for connecting investors with startups, and we believe that our combined capabilities will help us to accelerate the growth of the Indian startup ecosystem.”
The deal is still subject to regulatory approvals. If it goes through, it is expected to close in the next few months.
Here are some of the key takeaways from the story:
- StrideOne is in advanced talks to acquire LetsVenture.
- The deal is expected to be worth around $100 million.
- The acquisition would give StrideOne a platform to reach a wider pool of investors.
- It would also give StrideOne access to LetsVenture’s data and analytics capabilities.
- The deal is still subject to regulatory approvals.
The implications of the deal:
The acquisition of LetsVenture by StrideOne would have a number of implications for the Indian startup investment ecosystem.
- It would consolidate the market for investment platforms for startups.
- It would give StrideOne a leading position in the market.
- It would provide StrideOne with access to a wider pool of investors.
- It would also give StrideOne access to LetsVenture’s data and analytics capabilities.
The deal is still subject to regulatory approvals, but if it goes through, it would be a significant development in the Indian startup investment ecosystem.
