About MPGI
MPGI is a venture capital firm founded in 2015. It is primarily based out of London, United Kingdom. As of Feb 2023, MPGI has invested in 15 companies. It primarily invests in Seed round in India based startups. Its investments are spread across a wide range of sectors from Retail to Consumer and Enterprise Applications. Most recently it participated in the $***** Series C round of Makeo Overall, MPGI portfolio has seen 4 unicorns and 1 acquisition including key companies like Cars24, Scalable Capital and Choco. A lot of funds co-invest with MPGI, with names like Presight Capital sharing a substantial percentage of its portfolio.MPGI's List of Top Investments
MPGI has a portfolio of 15 companies, including 4 unicorns. Their most notable investments are in Wishup and Scalable Capital.Their portfolio spans across Germany, India, United Kingdom and 2 more locations. They have invested in Retail, Consumer, Enterprise Applications and 7 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by MPGI:1. Cars24
Retailer of used vehicles, new vehicle information, loans, and related services. The business facilitates the buying and selling of pre-owned cars. It provides information regarding new cars, including specifications and comparisons. Additionally, the entity offers various financial products, such as used car loans, personal loans, and credit cards. Vehicle-related services, including vehicle history checks and challan payments, are also available.
Key facts about Cars24
- Founded Year: 2015
- Location: Gurugram (India)
- Annual Revenue: ₹6,360Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $1.08B
- Employee Count: 4,618 as on Aug 31, 2025
- Investors: SoftBank Group, DST Global and 73 Others
- Latest Funding Round: Series G, Dec 20, 2021, $*****
- Highlight: Editors' Pick
Automated investment platform for ETFs, equities, bonds, commodities, and real estate. Its features include tools for portfolio optimization, valuation, risk monitoring, and portfolio management. Its app is available across both Android and IOS platforms.
Key facts about Scalable Capital
3. Choco
Provider of a platform streamlining order and payment processes for distributors. The platform offers tools for order management, sales growth, and payment processing. It automates order capture, provides customer relationship management, and facilitates flexible payment options. The platform aims to reduce manual tasks and improve business relationships.
Key facts about Choco
4. Velocity
Provider of revenue-based financing and business tools for e-commerce businesses. It offers financial products like revenue-based financing, credit cards, and credit lines. The company also provides business tools, including e-commerce analytics and payment solutions. It aims to support the growth of digital-first businesses.
Key facts about Velocity
- Founded Year: 2020
- Location: Bengaluru (India)
- Annual Revenue: ₹34.5Cr as on Mar 31, 2025
- Stage: Series A
- Total Funding till date: $30.3M
- Employee Count: 99 as on May 31, 2025
- Investors: Valar Ventures, FJ Labs and 24 Others
- Latest Funding Round: Series A, Nov 17, 2021, $*****
- Highlight: Editors' Pick
5. Razor Group
Platform acquiring Amazon FBA brands. The company acquires and operates small and medium-sized brands on Amazon. The company evaluates the Amazon FBA business by analyzing financial data or P and L and operations. After the analysis, the documents are signed and closes the deal with a fund transfer to reach the bank account within an additional week.
Key facts about Razor Group
MPGI's Year-on-Year Investment Trends
MPGI has invested in 15 companies over the last 11 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Makeo and most recent follow-on round was in Scalable Capital.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 1 | 0 | 1 |
2022 | 1 | 0 | 1 |
2021 | 1 | 0 | 1 |
2020 | 0 | 0 | 0 |
2019 | 1 | 0 | 1 |
MPGI's Investments by Stage
MPGI has made 4 investments in Seed stage with an average round size of $672K, 1 investment in Series A stage with an average round size of $42.5M and 1 investment in Series C stage with an average round size of $4.81M.Stage of entry | No. of Investments |
|---|---|
Seed | 4 |
Series A | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
MPGI's Investments by Sector
MPGI has a diverse portfolio, with companies operating in the Consumer, FinTech, HealthTech, Retail and Blockchain - Industry Applications. Notably, it has invested in 13 Tech companies, 7 Consumer (B2C) companies, 7 Enterprise (B2B) companies and at least 6 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 2 |
FinTech | 2 |
HealthTech | 2 |
Retail | 2 |
Blockchain - Industry Applications | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
MPGI's Investments by Geography
MPGI has made most investments in India (3), followed by Germany where it has made 2 investments.Country | No. of Investments |
|---|---|
India | 3 |
Germany | 2 |
United States | 1 |
Note: We have considered here, only first round of investments
MPGI's recent investments
MPGI has not made any investment in 2026 so far.Here are the most recent investments by MPGI:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 14, 2023 | India | Series C | 5498 | ||
Jan 10, 2022 | Germany | Seed | 7607 | [+1] | |
Aug 17, 2021 | India | Series A | 8684 | [+3] | |
Mar 24, 2019 | India | Seed | 9719 | [+5] | |
Apr 06, 2016 | Germany | Series A | 5303 | [+2] |
Unicorns in MPGI's Portfolio
MPGI has 4 unicorns in its portfolio - Choco, Razor Group, Scalable Capital and others. The most recent unicorn in their portfolio is Choco. It became a unicorn in 2022, 4 years before MPGI first invested in it.Here is a list of unicorns in MPGI's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | Provider of a platform streamlining order and payment processes for distributors | 2018 | Berlin | Series B | jjrloru | ||
67 | Platform acquiring Amazon FBA brands | 2020 | Berlin | Series D | nmnarjt | ||
76 | Automated investment platform for ETFs, equities, bonds, commodities, and real estate | 2014 | Munich | Series F | uhmugqo | ||
78 | Retailer of used vehicles, new vehicle information, loans, and related services | 2015 | Gurugram | Series G | {umyawt |
Acquired companies in MPGI's Portfolio
1 company from MPGI's portfolio has been acquired. The most recent acquisition was Denario in Aug 2023 by PandaDoc for $*****.Here are MPGI's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 28, 2023 | Jan 10, 2022 | Seed | 6074 |
Co-investors of MPGI
Over the past 11 years, 161 investors have co-invested in MPGI's portfolio companies. This includes funds and angels.
- Invested before MPGI: Eight Roads Ventures, Vishal Agrawal and 91 others have invested in rounds before MPGI. There is 1 company where Eight Roads Ventures has invested before MPGI and 1 company where Vishal Agrawal has invested before MPGI.
- Top Co-investors of MPGI: 33 investors entered a company along with MPGI. These include investors like Presight Capital (2 companies).
- Invested after MPGI: A total of 35 investors have invested in MPGI's portfolio after their investments. Top Investors include Tencent (1 company), Tengelmann Ventures (1 company) and BlackRock (1 company).
Recent News related to MPGI
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Berlin’s Denario secures €1.3 million to launch its cloud payment platform for European SMBsEU-Startups•Jan 10, 2022•Medium, 468 Capital, Presight Capital, MPGI and 1 other
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5-month-old UpScalio discloses fundraise of $42.5 mn in Series A roundBusiness Standard•Aug 17, 2021•UpScalio, Presight Capital, Heliad, Whiteboard Capital and 6 others
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Tencent invests in Scalable CapitalBusiness Insider Deutschland•Jun 09, 2021•Tencent, Scalable Capital, MPGI, BlackRock and 2 others
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IMMO racks up fundingPE Hub•Nov 07, 2019•IMMO, Talis Capital, HV Holtzbrinck Ventures, DST Global and 1 other
