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Bertelsmann India Investments

MumbaiBERTELSMANN-INDIA-INVESTMENTS
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Classification
Slugbertelsmann-india-investments
HQMumbai
Stage FocusPrimarily Series B focused with average round size of $16…
Intel StatusAccepting submissions
🔥 BERNIE'S HOT TAKE

BII is the textbook 'relationship investor' - they genuinely mean it when they say they're in it for the long haul. Portfolio companies rave about them being 'first institutional check' partners who help expand globally, even placing former BII principals as CFOs. Founders say BII 'stood by us through every funding round and major business pivot' - that's not marketing speak, that's real commitment. With 3 unicorns (Shiprocket, Licious, Eruditus) in their portfolio, they've proven they can spot and nurture winners. The $500M committed through 2026 shows serious firepower. The downside? Their 'highly selective' approach means they pass on a lot - if you don't fit their thesis perfectly, you're probably out.

KEY TAKEAWAYS
  • Best for: Series A-C startups wanting true long-term partners who stick through tough times
  • Watch out for: Very selective - high bar for investment and strong thesis fit required
  • Known for: Relationship-driven investing with strong founder loyalty and global expansion support
Investment Thesis

BII is a sector-agnostic fund investing in early growth-stage tech startups with $5M-$15M initial checks, scaling up to $40M as companies grow. They focus on Series A to C rounds across healthtech, fintech, agritech, edtech and more. As a corporate VC arm investing from Bertelsmann's balance sheet, they position themselves as long-term partners offering steadfast support and a shared vision for the future.

Stage & Sector Focus

Primarily Series B focused with average round size of $16.2M, though they also do Series A ($9.92M average) and Series C ($35.5M average). Portfolio spans Consumer (B2C), Enterprise Applications, Retail, FinTech, Food & AgTech with 33 tech companies, 27 consumer companies, and 20 enterprise companies. Active investor with 11 investments in 2025.

Notable Portfolio
ShiprocketLiciousEruditusPepperfryAgroStarSkepsCureBayRozana
Key Partners
Pankaj Makkar
Managing Director

Harvard MBA and chartered accountant who joined Bertelsmann New York in 2009 before starting BII in India. Calls himself the 'professional spouse' to founders, emphasizing BII's 10-15 year partnership approach. Founders praise his 'very strong inter-personal skills' and describe him as a 'cherished family friend.'

Rohit Sood
Partner

IIT Delhi graduate and IIM Kozhikode MBA with Deutsche Bank background, elevated to Partner from Principal. Champions their selective investment approach, making limited investments to work closely as 'true partners and extensions of management teams.' Joined BII in 2012 and is considered by founders as both investor and 'cherished family friend.'

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