New Delhi, Feb. 10 -- Bertelsmann Investments has acquired a majority stake in LetsTransport, a portfolio company of its venture capital arm Bertelsmann India Investments, under the Bertelsmann Next India (BNI) platform, which aims to build and scale founder-led operating businesses in India.
The move signals a buy-and-build strategy across high-growth sectors. Bertelsmann said the initiative brings its growth program to India after partnering with entrepreneurs across Europe and the US in areas such as mobile ad tech, HR tech, and pharma tech.
As its first investment under BNI, Bertelsmann has acquired an 80% majority stake in LetsTransport, which will be renamed LetsTransport Group (LTG). The founders will continue to lead operations as the company scales from a trucking marketplace into a tech-enabled logistics platform serving enterprise and mid-market customers.
Over time, BNI plans to add complementary businesses and products within the LTG ecosystem through organic growth and acquisitions, supported by long-term capital, governance, and access to Bertelsmann's global network, including Arvato.
BNI will be led by Pankaj Makkar, managing director of Bertelsmann India Investments, who will also become chairman of LTG's board. LTG will collaborate with other Bertelsmann portfolio companies, including Shiprocket, with which it has signed an operating agreement to support intra-city and mid-mile trucking while expanding part-truckload and warehousing offerings. Bertelsmann, via its BII fund, is the largest investor in Shiprocket and said it will continue its association with the company following its IPO.
"India has been a standout growth market for us, powered by exceptional founders and ambitious companies. With Bertelsmann Next India, we're deepening that commitment partnering for scale with patient capital and global know-how, while keeping founders in the driver's seat. LetsTransport Group is a flagship for this approach: a strong team building a category-leading logistics business for the long term," said Carsten Coesfeld, chief executive officer of Bertelsmann Investments.
"BNI combines Bertelsmann Group's strengths with founder-led autonomy to build durable operating businesses in India. While BII continues to back stellar startups as a sector-agnostic, early-growth VC fund, BNI will partner with founders at majority ownership to compound value over decades without the efforts to raise capital every year," said Makkar.
Bertelsmann said Bertelsmann India Investments (BII) will continue unchanged as a sector agnostic, early-growth VC fund, deploying capital from its recently raised $500 million (around Rs 4,533 crore) fund, as the group deepens its India strategy.
Published by HT Digital Content Services with permission from VC Circle.