India Quotient

IndiaQuotient Investment Trust (IN/AIF1/12-13/0003) is Fund #3 in the SEBI AIF registry, registered on 13 August 2012 — just 84 days after SEBI's AIF Regulations came into force in May 2012. It is managed by India Quotient Advisers LLP, the investment manager for all IndiaQuotient AIFs. IndiaQuotient is a pioneering pre-seed and seed-stage venture capital firm founded in 2013 by Anand Lunia and Madhukar Sinha, headquartered in Indiranagar, Bengaluru. The firm invests in bold, disruptive startups targeting Indian consumers at the very earliest stage — often when an idea is merely a concept, ahead of any angel round. IndiaQuotient has raised five funds. Fund V (IQ Alpha V — the SEBI manager_name in the input = the commercial name of the fifth fund, not the manager entity) closed at USD 129 million in October 2025 — the firm's largest ever fund. Fund I's net DPI was 5.9x. AUM across funds: ~USD 350M+. The original SEBI registration address (2012): 42, Kalpataru Estate, Building No. 5, Jogeshwari Vikhroli Link Road, Andheri East, Mumbai – 400093 (Anand Lunia's Mumbai address at the time of registration). Current address: 3rd Floor, J.K. Plaza, 788, 12th Main Road, Indiranagar, Bengaluru – 560038.

IndiaQuotient looks for founders with EQ, IQ, and IndiaQ. The firm invests at the paper stage with as much conviction as when a company has a handful of customers — enabling many portfolio founders to skip the angel round entirely. The fund backs companies building disruptive businesses for Indian consumers, across social, fintech, consumer brands, content, agritech, digital lending, and B2B software. IndiaQuotient avoids momentum-driven deals and takes pride in walking away from high-valuation situations. The firm does not pressure portfolio companies for up rounds, high dilution, or early liquidity — aiming to be patient capital whose returns come exclusively from long-term company success. Leading the simple, Indian middle-class life is considered an investor's superpower — key to understanding the Indian consumer.