14th December 2017: We seeded our vision of organizing private markets for Family Offices with Sasha Mirchandani of Kae Capital and Ronnie Screwvala of Unilazer Ventures at a small private dinner in Mumbai. It was the foundation of our belief that private market access needed to be made transparent, easy and delivered in a trusted way to India’s surging startup ecosystem
At LetsVenture, as we met many family offices who were keen to enter the private market space, we realized that lines were blurring between early-stage and growth investments. For founders, the lines of fundraising were merging. Building a continuum between early and growth-stage funding for founders was imperative towards delivering on our vision of organizing Private Markets.
Over the last 2 years, we brought on board many leaders who were passionate about being part of the team that would build out India’s largest marketplace for digitizing private markets. As we start this decade, my personal belief is that private market investing will go mainstream in the next 3-5 years.
Why does one believe private market investing will go mainstream – The last 2 years have seen close to 100M USD in ESOP buyback, and many Indian startups go IPO. There is increased liquidity in the ecosystem today. Globally in the last decade, private markets have outperformed public markets. As an accredited investor, not having a strategy to invest in private markets may not be an option. I also believe private market investing will start to see innovation and disruption in how founders will raise capital, and how investors will invest in private companies.
Over the last 8 years, LetsVenture has become synonymous within the early stage ecosystem with over 450+ rounds of funding, $3 billion in portfolio value, 7500+ angel investors from 60 countries and over 18,000 startups on the platform. We were always a technology first platform for startups and investors and will continue to be technology-led!
The creation of trica is a step in the same direction – of powering private markets with a technology-led solution that will digitize and organize private market investing! It almost feels like we thought outside the triangle, and trica was born.
trica, derived from the Sanskrit word “trikon” represents change and strength. And today I am excited to announce the launch of trica: https://www.trica.co/about-us
trica is here to change the status quo with trica equity (erstwhile MyStartupEquity) and trica capital.
With trica equity (https://www.trica.co/equity), we aim to solve the cumbersome challenge of manually maintaining ESOPs and cap tables for hundreds of startups via technology. Today over 350 founders and over 15,000 investors and employees across startups in India, USA and Singapore are using trica equity to be more transparent and efficient in their dealings.
With trica capital (https://www.trica.co/capital), we set about addressing the information asymmetry that exists in accessing exclusive investment opportunities in growth-stage startups; along with a better tech platform for portfolio management. Today over 350 companies, 400 UHNIs and 200 family offices from around the world trust us to unlock the next phase of revolution in growth-stage investing.
As trica launches today, we will see a strong leadership team under the guidance of Nimesh Kampani, who comes in as co-founder and CEO, and Sanjay Jha, who now also plays the role of co-founder and CPO at trica, supported by the amazing leadership team who is all set to work on this big ambitious goal.
I am extremely grateful to the founders, investors, friends, stakeholders and LetsVenture employees who have been the backbone of our journey so far. Today is Day 0 for us and we have a long way to go. Join us in the journey and let us help you be your private market investing partner!
Together our promise is to make the private market agile, open, digitized and scalable. Across early and growth stage for founders and investors.
Upwards and onwards,