6 months ago
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Artha Venture Fund I said it has made partial exit successful Lemnisk a Bengaluru-based SaaS startup, astatine 17 times instrumentality of it’s archetypal concern successful the company.
According to filings with the Register of the Companies (ROC) Bajaj Financial Securities has acquired a involvement successful Lemnisk astatine a valuation of astir ₹240 crore, The transaction progressive secondary income by Artha Venture Fund.
Founded successful 2015, Lemnisk is simply a Customer Data Platform (CDP) that enables enterprises to unify and activate lawsuit information crossed channels, helping brands present hyper-personalised selling astatine scale.
Its clients see fiscal services, telecom, and user net companies crossed India, the GCC, and Southeast Asia.
AVFI which participated successful the sale, said that the determination was little astir money pressures and much astir bringing successful a prestigious strategical player.
The money archetypal backed Lemnisk successful FY21 with a ₹1.1 crore effect backing astatine a valuation of astir ₹7 crore, aboriginal adding different ₹9 crore crossed aggregate rounds and helping onboard different investors.
Since then, Lemnisk has scaled its yearly recurring gross from $500,000 to implicit $5 million, portion maintaining a beardown currency balance.
Anirudh A. Damani, managing partner, Artha Venture Fund said that erstwhile Artha backed the company, the CDP class successful India was inactive nascent.
“Global validation came soon after, erstwhile Twilio acquired Segment for $2 cardinal successful 2020,” helium said.
Artha’s precise archetypal backing into Lemnisk has generated astir 17 times returns, with the exit unsocial contributing implicit 10% DPI to AVF I, India’s archetypal aboriginal signifier microVC money which closed astatine implicit ₹225 crore successful 2021.
With the latest development, AVF I’s distribution-to-paid-in (DPI) superior present stands astatine 20%, Internal Rate of Return (IRR) has crossed 60%, and Multiple of Invested Capital (MOIC) is astatine 5 times with 2 partial and 2 afloat exits successful its 32 institution portfolio.
Across its portfolio, Artha India Ventures’, the sponsor and General Partner for AVF, cumulative exits person present exceeded ₹100 crore, spanning 34 transactions since 2016.
“We person been disciplined successful creating liquidity events for our Limited Partners, adjacent successful backstage markets,” Mr Damani said.
“Our 2025 exits from Everest Fleet, Biryani By Kilo, Exotel, Instellar, and present Lemnisk amusement that determination is simply a steadfast secondary marketplace for high-quality companies that run similar institutions, helium said.
“Our exit musculus has besides gotten america person to the M&A community, secondaries funds and particularly the strategy teams astatine conglomerates similar Reliance, Bajaj, DSP, looking for strategically investing oregon acquiring innovative startups,” helium added.
Artha India Ventures (AIV) precocious besides announced the last adjacent of its “winners-only” follow-on vehicle, Artha Select Fund (ASF) astatine ₹432 crore.
ASF volition constitute Series B and C cheques of astir ₹20 crores each, for 12–14 winners implicit the adjacent 4 years.
“Our biggest alpha comes from taking companies from zero to 1 successful our task fund, and 1 to 10 done our winners fund,” Mr. Damani said.
“These exits springiness america the superior to reinvest wherever worth instauration imaginable is highest,” helium further said.
With full Assets Under Management exceeding ₹1,200 crore, Artha India Ventures is India’s lone alternate concern manager backed by a household office.
