LetsVenture, a startup investment marketplace, today announced the launch of its new business entity - trica - a unified platform for equity management and private market investments.
This new business entity has separately secured $3 million in a seed funding round from Accel, LC Nueva AIF, Secocha Ventures; marquee angel investors Anupam Mittal of shaadi.com, Kunal Shah of CRED, Ashneer Grover of BharatPe, as well as family offices of Apurva Parekh of Pidilite, Rahul Talwar of the DLF Group and others.
trica, a LetsVenture company, where Nimesh Kampani is the co-founder and CEO, and LetsVenture co-founders Shanti Mohan and Sanjay Jha are the head of strategy and head of product, respectively.
MyStartupEquity - a SaaS product for cap table and ESOP management - has rebranded itself to trica equity; and trica capital will facilitate investments in growth stage and pre-IPO companies from family offices, UHNIs and funds (Indian and global).
LetsVenture will function as it is and will continue to focus on angel investing and early-stage companies.
Subrata Mitra, Partner, Accel India, said, "We're excited to be an investor in trica: startups are becoming mainstream at an ever faster pace, and just like the DEMAT moment for public markets, we believe we're at the right inflection point where private company ownership needs to be managed and scaled digitally; that's exactly the mission that LetsVenture and trica have at their core. We think this is a global opportunity led by Indian tech and product talent! trica is derived from the word trikon' or triangle and built on the pillars of trust, transparency and technology."
Commenting on the launch of trica, Nimesh Kampani said, "In a short span of 15 months, we have 350 startups from India, Singapore and USA using our equity management SaaS product, including unicorns and pre-IPO companies like Delhivery, Infra Market, Pharmeasy, Zetwerk and Mobikwik. Similarly, in the last year the team has fulfilled exclusive investment mandates in over 20 growth stage startups, pre-IPO companies and venture funds from India and overseas."