German venture capital (VC) firm Bertelsmann Investments (BI) has acquired a majority stake, 80% to be precise, in its portfolio truck aggregator startup LetsTransport, with an intent to build and scale the startup as its first India based majority-owned, founder-led operating business. The firm didn’t disclose the size of the deal. In a statement, BII said that the deal would allow it to support LetsTransport by providing them access to long-term capital and governance support, as well as enabling access to Bertelsmann’s global network. With the deal, LetsTransport will become a part of Bertelsmann Next growth unit of BI. This marks the launch of Bertelsmann’s acquisition-oriented investment arm, Bertelsmann Next, in India. The buy-and-build investment unit within Bertelsmann Investments was created in 2022 as a dedicated division to accelerate entrepreneurial development in key growth sectors. Under this structure, LetsTransport will expand beyond a typical VC holding to become a core operating business within a dedicated “anchor investment” strategy, while founders continue to lead daily operations. Post the acquisition, the logistics startup will be renamed to LetsTransport Group (LTG). While the founders will remain in full operational leadership, BI’s managing director Pankaj Makkar will become the chairman of LTG’s board. “LetsTransport… Read MoreInc42 Media
