Startup incubator Venture Catalysts-backed 54 startups invested ₹500 crore across 63 deals in 2019, the Mumbai-based firm said on Monday.
Its co-founder and President Dr Apoorva Ranjan Sharma said, over the phone, that Venture Catalysts invested in 54 new startups while nine are follow-on rounds in multiple stages (Series A, B, C) in its portfolio companies.
“Last year, we did a good number of deals in fintech, supply chain/logistics, deep tech and FMCG. We experimented with a few new sectors as well,” he said.
The statement added that Venture Catalysts had achieved 30 successful exits in around four years. The firm typically invests $250,000-$1.5 million in early-stage startups and has a network of over 5,000 angels across Tier-2 and Tier-3 cities. It has closed 171 deals so far with portfolio investments reaching $1.7 billion in valuation, the statement said. The firm expects the combined valuation of its portfolio companies to double in 2020.
Companies funded by Venture Catalysts include digital payments company BharatPe, nupay, Home Capital, Blowhorn, Coutloot, Jumpstart, LiquiLoans and OTO Capital.
Over the last three years, more than 14,000 startups across 27 cities have reached out to Venture Catalysts for mentorship and training. Apart from high net worth individuals (HNIs) from small towns in India, companies such as Google Inc and Axis Capital have co-invested in its portfolio companies, the statement added.
In 2020, Sharma expects startups in cleantech, agritech, media and entertainment, logistics and supply chain management to perform well. Companies in e-commerce, fashion, real estate, hospitality and deep tech will hire actively in 2020, he added.
Sharma expects investors interest in companies in logistics, supply chain, real estate and agriculture to continue next year. “Artificial Intelligence (AI) is now becoming diversified. Earlier only generic AI companies were coming to us, but now we are getting (companies that work on) applications of AI in fintech and other sectors,” he said.
Venture Catalysts expects to close 90 deals and expects its exits to cross 50 in 2020. The firm plans to expand its angel network in London, Dubai and Singapore next year, and also plans to explore opportunities in the US, China, Canada and Indonesia.