India Quotient

Anand Lunia and Madhukar Sinha serve as founding partners and lead investment decisions. Lunia brings operating experience to the partnership; Sinha contributes investment discipline. The firm operates with a lean central investment committee rather than a large partnership layer.

India Quotient targets pre-seed and seed — often backing founders before they have a launched product. When the firm started in 2012, most Indian venture firms wrote Series A checks; India Quotient committed exclusively to the earliest institutional entry point. It has not expanded into growth equity, keeping the stage mandate clean.

The firm focuses on Indian consumer internet, fintech, enterprise software, media, and agritech. It avoids deep-tech hardware and biotech. The portfolio reflects broad horizontal platform bets rather than narrow vertical SaaS or infrastructure plays.

India Quotient typically leads or co-leads pre-seed rounds, writing the first institutional check. The firm does not operate as a passive co-investor alongside later-stage funds and prefers building concentrated positions at formation rather than joining syndicates post-product-market-fit.

The firm reserves capital for follow-on investments into its strongest portfolio companies. It does not pursue a strict 'one-and-done' seed model. Follow-on decisions are made selectively, typically at the Series A inflection point, based on the portfolio company's traction and capital efficiency.