LetsVenture’s new business entity Trica raises $3 million in seed funding

By Livemint
According to LetsVenture, funds raised by Trica will be used to build technology infrastructure stack for the equity management product, while scaling and growing the team.

BENGALURU: Unified platform for equity management Trica, owned by investment marketplace LetsVenture, on Thursday said it has raised $3 million as part of its seed funding round from Accel, LC Nueva AIF, Secocha Ventures.

Marquee angel investors, including 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 also participated in the round.

Former president at LetsVenture, Namesh Kampani, has been named the chief executive officer and co-founder of Trica. LetsVenture co-founders Shanti Mohan and Sanjay Jha will head strategy and product at Trica, respectively.

According to LetsVenture, funds raised by Trica will be used to build technology infrastructure stack for the equity management product, while scaling and growing the team.

“Trica has been conceptualised out of LetsVenture's vision to build a transparent platform that democratises private market investing. As a pioneer and market leader in the early-stage ecosystem, LetsVenture is a technology first platform – we continue to leverage this DNA as we launch Trica and its suite of products – Trica capital and Trica equity. With Trica, we now aim to be the market leader in equity management, primary fundraising and liquidity solutions at the growth stage of the market, thereby becoming a one-stop-technology led full-stack platform for founders," said Mohan, CEO, LetsVenture

LetsVenture’s software product for cap table and employee stock ownership plan (ESOP) management MyStartupEquity has been rebranded as Trica equity, while Trica capital will facilitate investments in growth stage and pre-IPO companies from family offices.

LetsVenture will function as it is and will continue to focus on angel investing and early stage companies.

"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," said Subrata Mitra, partner, Accel India

“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," commented Kampani on the platform’s growth.

At present, Trica is a venture partner to revenue-based financing fund, N+1 Capital and Axis AMC’s Growth Avenues Fund.


What is inkl?

Important stories

See news based on value, not advertising potential. Get the latest news from around the world.

Trusted newsrooms

We bring you reliable news from the world’s most experienced journalists in the most trusted newsrooms.

Ad-free reading

Read without interruptions, distractions or intrusions of privacy.