Alt Venture Capital Fund — LetsVenture | Wisefolio

Alt Venture Capital Fund

Cat I · Managed by LetsVenture

India's trusted private market platform for those who build—and those who believe early.

SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.

Overview

About

Alt Venture Capital Fund (SEBI Reg. IN/AIF1/23-24/1280) is a Category I – Venture Capital – Angel Fund managed by Lets Venture Advisors LLP, the investment management arm of LetsVenture (now also branded LVX). Registered in May 2023, it is the successor fund to LV Angel Fund (IN/AIF1/18-19/0585, registered September 2018), re-registered after the original fund's 5-year tenure concluded. LetsVenture was founded in 2013 by Shanti Mohan and Sanjay Jha with the mission of making fundraising and investing easier for startups and investors respectively. It has grown into one of India's leading early-stage private market platforms, enabling 4,500+ angel investors to invest across 900+ schemes with AUM of $115M+. Backed by Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Anupam Mittal, and Mohandas Pai.

Investment philosophy

LetsVenture operates on the principle that startup investing should be accessible to accredited angel investors through a single, SEBI-regulated pooling vehicle, removing individual investors from startup cap tables and simplifying the deal process for founders. The Angel AIF model allows investors to commit a minimum of ₹25 lakh over five years, invest in smaller amounts across multiple startups, and benefit from simplified KYC and a shared compliance infrastructure. LetsVenture was the first platform to reduce carry from 20% to 10% (capped) in the interest of its investor community. The fund charges an onboarding fee of ₹25,000, an investment fee of 1–2%, and carry of 3–5% on exit, with no annual management fee.

Team12

Sanjay Jha

Co-Founder, LetsVenture and trica

IIT Bombay (EE, 1995). Built the LetsVenture funding platform and trica equity (SaaS for cap table and ESOP management). 9+ years at LetsVenture in senior engineering and product roles.

Pranav Mahajani

President, trica capital

IIM Ahmedabad graduate with 17 years of investment banking experience. Partner to founders in managing startup capital and growth.

Pramod Lamba

Head – Debt / LV Debt

30+ years of experience across Airtel, Tata Sky, and ACT Fibernet, with recent expertise in the debt space. Responsible for building and nurturing LV's debt arm.

Gandhimadhy Varadarajan

Former General Counsel & SEBI Contact Person

Former Head of Legal & Compliance at LetsVenture and trica. Previously VP-Legal at ICICI Venture Funds Management for 17 years. Departed LetsVenture in July 2024 to join Turbostart as General Counsel.

Shanti Mohan

Founder & CEO, LVX

I have always been drawn to building first as an engineer, then as a founder. I grew up in Jamshedpur, and now think of myself as a global citizen. I built my first tech company in the embedded systems space (writing protocols and driver code). After an exit, I worked with HP across India and the US. When I came back to India in 2013, the venture ecosystem was nascent but something felt broken. Great founders were struggling to get discovered. Investors were looking, but not always finding the right founders. There was no shortage of ambition or capital. But discovery was broken. Access was uneven. Let's Venture started as a simple attempt to fix that gap with a larger vision to democratise value and wealth creation. Over the years, as Let's Venture evolved into LVX, the way we build has stayed consistent: stay close to founders and investors, think from first principles, and focus on solving real problems. That way of building also reflects who I am. I am energised by deep conversations, guided by first-principles thinking, and driven by an unapologetic ambition to be the best at what we do. While not working, I spend as much time as I can in the mountains, and I enjoy reading and long conversations with friends. In many ways, this journey feels the same: conversations, curiosity, and building alongside others. Most days, it feels more like fun than work. I hope you enjoy the platform, as much we enjoy building it.

Registration

SEBI registration

SEBI-registered

SEBI registration no.IN/AIF1/23-24/1280

RegisteredMay 2023 (3 years ago)

Valid untilPerpetual

Contact personGandhimadhy Varadarajan

Address51 Indiqube Penta Rachimond Road, Shantala Nagar, Bangalore, Karnataka, 560025

Investment manager

Insights

No insights published yet.

Disclaimer

Investments in AIFs carry market and credit risk including possible loss of capital. Past performance does not indicate future returns. Information shown is sourced from the issuer's PPM and SEBI filings — confirm against the latest PPM before committing. Wisefolio is an information platform; it is not registered with SEBI as an investment adviser, portfolio manager, or distributor. By using this page you accept our terms and privacy policy, including the self-attestation that you are eligible to view AIF marketing material under SEBI rules.