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Startup Delhi Is So Close To Ousting Bangalore As No. 1

LetsVenture, the online platform for angel investors has been based in Bangalore since its inception. Now, after over three years, LetsVenture has expanded to Delhi-NCR and actively tapping into the region. Their numbers tell you why.

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It’s strategic

“ We have 400 angel investors in NCR registered on LetsVenture and 55 percent of them have made at least one investment through the platform.

Given the tremendous entrepreneurial activity in NCR, we felt this was a great time to grow local presence,” said Shanti Mohan, founder and CEO, LetsVenture.

"NCR has emerged as the top investment destination for angel investors, overtaking Bangalore in the number of seed investments. Almost 30 percent of our portfolio companies are based in the Delhi-NCR region. Having a local presence will help us build and cultivate stronger relationships with all stakeholders," said Charu Sharma, director, Delhi-NCR chapter of LetsVenture.

When deal data from the past 3 years is considered, NCR startups have actually caught up with or overtaken Bangalore in terms of both number and value of deals.

Value of deals by city




2015 saw Bengaluru pulling in majority of investments, 860 million dollars more to be exact. By 2016, this changed drastically with a 20 million dollar difference between both cities. Delhi has almost caught up.

Number of deals by city





We saw similar trends with number of deals by city except in 2016. Delhi closed 67 more deals than Bengaluru.

The deal data on LetsVenture platform mirrors the behaviour in the ecosystem. However, one key difference is that NCR has been leading Bangalore for all 3 years. Here is some data to show the same:

No. of startups from NCR on the LetsVenture platform = 2,921
No. of startups from Bengaluru on the LetsVenture platform = 2,923

No. of angels from NCR on the LetsVenture platform = 394
No. of angels from Bengaluru on the LetsVenture platform = 361

Value of deals by city on LetsVenture




Number of deals by city on LetsVenture




The graphs clearly highlight Delhi as the top performer; something LetsVenture wants to nurture. In 2014 and 2015 Delhi had a clear lead. In 2016 they predict investments from Bengaluru catching up, a likely result of increased adoption of our platform in the ecosystem. However, investments from Delhi maintain steady growth and it will be an imperative to work with this momentum.



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