Leo Capital attracts global investors for India opportunity as it targets $125m fund for new opportunities

Early stage venture fund Leo Capital plans to launch a new fund following two successful funds, this news comes hot on the heels as India is set to receive a record $35bn in venture funding from global investors.

Over the past three years, Leo Capital has raised $106m for two funds from investors around the technology centric opportunities in India and Southeast Asia.

Leo Capital was established by Rajul Garg and Shwetank Verma in 2017. Rajul has been a serial entrepreneur for over two decades before setting up Leo Capital. He founded Pine Labs (valued at $5bn in private valuation), GlobalLogic (valued at $10bn on exit) and Sunstone Education (leading business education company in India). He started angel investing in 2011 before setting up Leo Capital.

He was the first investor in Meesho, India’s largest social commerce company, valued at $5bn in private valuation. Shwetank worked for the investment institution Clermont Group making investments in education and healthcare before joining Metlife Asia where he led work on innovation and partnerships with startups. In between he also founded start up MyHealthMate which was acquired in 2016.

Rajul Garg, Managing Partner at Leo Capital, commented: “Having been a founder several times over, I know first hand the opportunity and challenges startups face. As a team we’re well versed on the early stage signals that matter and are able to quickly engage in opportunities and be the first to write seed stage cheques for these businesses which we know have the right team and plan to scale. We pride ourselves on our track record of having helped build category leading technology companies multiple times.

“It’s our approach that drew global investors into our first two funds and we quickly became a beacon for investors in the US, Europe and Japan when they first started to internationalise their venture investments. We have feet on the ground and courtesy of our long careers here we are very familiar with the ecosystem.”