Pankaj Makkar built Bertelsmann India Investments from scratch starting in 2011, at a time when India had no real Series B or Series C market, and he has since expanded his role beyond investing to lead Bertelsmann Next India and chair the board of LetsTransport, combining capital, governance, and hands-on company-building. He also stands out for saying openly that not every startup should raise venture capital, and for creating his own founder-focused content through the Building It Up podcast, which looks at the tricky operational jump from 10 to 100 employees.
About their Fund
Sectors
Fintech, Health, Education, Food & Ag, Logistics
Rounds
Series A - Series B+
Avg Check Size
$5M–$15M
Notable Investments
Bertelsmann India Investments invests directly from Bertelsmann's balance sheet rather than through a typical time-limited fund, and it now runs two tracks: BII takes minority stakes in early-growth companies, while the newer Bertelsmann Next India takes majority stakes in founder-led companies to build them out over the long term, as seen in its acquisition of LetsTransport. The firm looks for founders aiming for strong venture-style growth rather than those who have already slowed down to turn a profit early, and it focuses on large but complicated markets like rural distribution, logistics, and education, expecting to stay involved with the companies it backs for 10 to 15 years.
Notable Fund
Investments
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Sheets they're in
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Sheets they're Fund is in
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Popular Investors
investor name
Active in
Rounds
Avg. Check
Links
Deeptech / Hardware
Robotics
Biotech
+
12
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Pre-Seed - Seed
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$400K - $2M
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7
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2
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4
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$400K - $1.5M
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$400K - $2M
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+
2
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Unknown
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Unknown
~$750K
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Fintech
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