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Venture Capital
propel.vc

Investments

67

Portfolio Exits

10

Funds

4

Service Providers

2

About Propel Venture Partners

Propel Venture Partners, formerly BBVA Ventures, is an independent venture capital firm focused on opportunities at the intersection of technology and finance.

Headquarters Location

201 Mission Street

San Francisco, California, 94105,

United States

415-500-4630

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Research containing Propel Venture Partners

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CB Insights Intelligence Analysts have mentioned Propel Venture Partners in 3 CB Insights research briefs, most recently on Apr 14, 2022.

Latest Propel Venture Partners News

Investing Platform Groww Raises $6.2M in Series A Funding Led by Sequoia India

Dec 22, 2022

Groww, a simple, free investment platform for millennials, has raised $6.2 million in a Series A round of funding led by Sequoia India. Y Combinator, Propel Venture Partners and Kauffman Fellows also participated in the round. The funds will be used to build technology to scale and launch new products that offer high quality investment options to the young, increasingly upward mobile generation. Launched in April 2017, Groww currently offers direct mutual fund investment plans and soon plans to roll out all other investment products including stocks. Groww focusses on millennial investors and has a fast-growing user base of over a one million users. They actively engage with this user base, sharing information around products and services that and help them make informed investment decisions. “Millennials are increasingly moving towards financial products instead of real estate and gold. Our goal is to become THE wealth app for the younger generation. There are 200 million people with investable income in India, but only 20 million investors. The only way to bring the next 180 million onboard is by making investing simple”, said Lalit Keshre, Co-founder & CEO, Groww. “We want to create a platform that has all possible investment solutions within a tech-enabled, easy-to-use interface - and all this, while providing the best-in-class user experience above all else. That is the fundamental premise of our offering.” “We are seeing a strong growth in the Indian investor base which is fuelling the market need for a better and inexpensive investment platform like Groww”, said Ashish Agrawal, Principal, Sequoia Capital India Advisors. “With their strong product sensibilities and focus on the millennial investor, Groww aspires to be the preferred product for retail investors in India. Sequoia India is excited to lead the Series A investment and join the founders journey to transform retail investing in India.” Groww is the brainchild of ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. The startup has been recognized by BSE for one of the "highest transaction in mutual funds" on a platform. Share this article:

Propel Venture Partners Investments

67 Investments

Propel Venture Partners has made 67 investments. Their latest investment was in Helius as part of their Seed VC on October 10, 2022.

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Propel Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/19/2022

Seed VC

Helius

$3.1M

Yes

1

5/16/2022

Series A - II

Nomad

$32M

No

2

4/8/2022

Series A

Truora

$15M

Yes

3

3/30/2022

Seed VC

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$99M

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10

3/15/2022

Pre-Seed

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$99M

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10

Date

10/19/2022

5/16/2022

4/8/2022

3/30/2022

3/15/2022

Round

Seed VC

Series A - II

Series A

Seed VC

Pre-Seed

Company

Helius

Nomad

Truora

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Amount

$3.1M

$32M

$15M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

2

3

10

10

Propel Venture Partners Portfolio Exits

10 Portfolio Exits

Propel Venture Partners has 10 portfolio exits. Their latest portfolio exit was Embed on June 21, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/21/2022

Acquired

$99M

6

1/27/2022

Corporate Majority

$99M

3

11/16/2021

Acquired

$99M

2

7/27/2021

Acquired

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$99M

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10

7/12/2021

Acquired

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$99M

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10

Date

6/21/2022

1/27/2022

11/16/2021

7/27/2021

7/12/2021

Exit

Acquired

Corporate Majority

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

3

2

10

10

Propel Venture Partners Fund History

4 Fund Histories

Propel Venture Partners has 4 funds, including Propel fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/20/2021

Propel fund I

$58.59M

1

3/1/2016

Propel Venture Partners US Fund I

$99M

10

3/1/2012

BBVA Ventures I

$99M

10

BBVA Ventures Fund

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10

Closing Date

7/20/2021

3/1/2016

3/1/2012

Fund

Propel fund I

Propel Venture Partners US Fund I

BBVA Ventures I

BBVA Ventures Fund

Fund Type

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Status

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Amount

$58.59M

$99M

$99M

Sources

1

10

10

10

Propel Venture Partners Service Providers

2 Service Providers

Propel Venture Partners has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

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Partnership data by VentureSource

Propel Venture Partners Team

7 Team Members

Propel Venture Partners has 7 team members, including , .

Name

Work History

Title

Status

Tom Whiteaker

IBM Ventures, BBVA, The Hartford, and Visa

Founder

Current

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Name

Tom Whiteaker

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Work History

IBM Ventures, BBVA, The Hartford, and Visa

Title

Founder

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Status

Current

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