Audacity Venture Capital: Navigating Media’s Future with a Stage-Agnostic Approach
Audacity Venture Capital, a multi-stage venture capital firm headquartered in Delhi, India, with an additional presence in New York, is dedicated to investing in media and technology companies that effectively capture and monetize discretionary time.
The media and entertainment sector is currently undergoing significant transformation, driven by advancements in artificial intelligence and increased media consumption. This evolution opens up new avenues for businesses that are well-versed in understanding how consumers allocate their leisure time and discretionary spending. Gaurav Verliani, Partner at Audacity Venture Capital, along with Founder and Managing Partner Kabir Kochhar, elaborated on the firm’s focus on the media industry, its ambitions for global expansion, and its unique investment strategy.
Investment Thesis
Audacity embraces a stage-agnostic investment philosophy, which emphasizes flexibility in funding across the entire value chain. The firm utilizes its extensive sector expertise to pinpoint early-stage opportunities and assess growth-stage undervalued assets, aiming to deliver consistent returns for investors while discovering exceptional companies. The firm seeks to collaborate with media experts to develop the next generation of media infrastructure and platforms, targeting businesses poised to become market leaders as AI transforms their value chains. “Our mission is to build a bridge from India and APAC to the US and global markets, helping founders access the scale they need to succeed,” Verliani stated.
Sectors of Interest
Audacity Venture Capital is particularly bullish on sectors that have the potential to transition from India to global markets. Areas of interest include media, sports, gaming, entertainment, advertising technology (adtech), and marketing technology (martech). The firm evaluates the market through two technology stacks: the Consumer stack, which encompasses direct consumer-facing platforms such as video streaming services, social media content, and the broader creator economy; and the Infrastructure stack, which covers foundational technologies that enable these consumer experiences, including AI-driven production tools and data analytics systems.
Investment Spread Across Stages
When it comes to funding, Audacity considers opportunities across all stages of development. “It’s like a barbell approach,” Verliani explained. The firm studies a diverse array of companies, spanning early-stage startups to those in the growth phase. This allows Audacity to help emerging companies rapidly scale while also placing larger investments in established firms primed for monetization.
Portfolio Strength
Currently, Audacity’s portfolio comprises 6-7 companies, reflecting a blend of those at early inflection points and newer ventures poised for growth. Noteworthy among these is Rusk Media, a content studio that has achieved over a tenfold increase in revenue and is on track for nearly 20-fold growth within the next year.
Audacity plans to execute an additional 3-4 investments by the end of the current fiscal year, indicating a strategic approach to expanding its portfolio as it prepares to launch a subsequent fund.
Exit Strategy
With seven successful exits to date, including the latest from Videoverse, Audacity has established a framework for future exits. The firm aims not just for numerical exits but seeks substantial outcomes each time.
Investment Horizon
Regarding investment timelines, Audacity’s strategy reflects a blend of immediate and long-term commitments. “For every five companies we invest in, one or two may have a gestation period of two to three years because they are mispriced,” Verliani noted. The firm typically makes ticket sizes between $10-15 million in certain investments, accompanied by early-stage investments that range from $500,000 to $1 million for initial checks.
Fundraising Initiatives
To date, Audacity has raised one fund totaling $50 million, attracting support from both Indian and U.S. investors. The firm indicates that it is on track to raise its next fund, continuing its mission of funding transformative media ventures.
