India's VC-backed Tracxn launches start-up exit platform
Tracxn, an India-based start-up data analytics platform backed by SAIF Partners, has launched an online platform to help angel investors find exit opportunities from start-ups.
The platform, called TracxnSecondary, connects seed-stage investors who are looking to sell their stakes with prospective buyers in the VC and institutional investor communities. It will eventually be expanded to start-up employees, providing them with an opportunity to liquidate their stock options.
Tracxn's founders told Livemint that they conceived the new venture as a way to help clear what they see as a bottleneck in the exit market, thereby freeing up capital and allowing early stage and angel investors to make more commitments. The platform will also benefit international funds who are looking for exposure to India.
Though initially focused on India, Tracxn plans to expand the platform into Southeast Asia by next month. The company believes that region's start-up ecosystem faces similar challenges to India.
Founded in 2013, Tracxn is a clearinghouse of information on start-ups in India, the US and Europe. Its main product is a database of privately held companies, offering an overview of specific market sectors. Other projects include Tracxn Syndicate, a platform to connect start-ups with potential angel investors, and start-up incubator TracxnLabs.
The company raised a $3.5 million Series A round last April led by SAIF; more recently it raised an undisclosed amount from a group of angel investors including Aarin Capital co-founder Mohandas Pai.
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