Pankaj Makkar

Managing Director, Bertelsmann India Investments
Pankaj Makkar pioneered Bertelsmann's India investing from scratch in 2011, now leading Bertelsmann Next India and chairing LetsTransport, combining governance, hands-on company-building, and founder-focused Building It Up podcast.
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Sectors their fund invests in
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Avg Check
$5M–$15M
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Does their fund Lead?
No
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Geos their fund invests in
Pankaj Makkar
Stages their fund invests in
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Sectors their fund invests in
Fintech
Health
Education
Food & Ag
Logistics
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$5M–$15M
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Leads?
No
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About Pankaj Makkar

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

Bertelsmann India Investments

Sectors
Fintech, Health, Education, Food & Ag, Logistics
Rounds
Series A - Series B+
Avg Check Size
$5M–$15M

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.

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