99 Tartans India

Each year, Carnegie Mellon University students current and former launch startups all across the world. CMU's entrepreneurial presence is especially strong and growing in India. As CMU's Indian alumni, it is our responsibility to ensure that not only are CMU's India-based startups funded, but also that our entrepreneurs are provided with expert mentors. We must give our entrepreneurs every opportunity to succeed.

Our Mission

The mission of 99 Tartans is to partner with the highest potential early-stage CMU alumni companies based in India and accelerate their success through access to capital and mentorship.

The 99 Tartans Model

99 Tartans is run and organized by volunteer CMU alumni and students whose goal is to elevate CMU’s Indian entrepreneurial community to go beyond the excellence of MIT and Stanford. We operate according to a typical syndicate: investment minimums are only INR 3L-5L per deal to encourage alumni to make multiple small investments each year. Similar to most syndicates, there is a 20% carry on returns. The carry is split between the 99 Tartans Deal Lead, 99 Tartans Pvt. to cover operating expenses, and LetsVenture to cover syndicate administration expenses.

We typically invest INR 75L – 115L into convertible note or SAFE seed rounds of INR 370L - 740L. We seek follow-on rights on Series A conversion terms. All investments are opt-in deal by deal by members. Members are asked to make at least one investment per year.

After each investment, the 99 Tartans Deal Lead will have the opportunity to mentor and provide in-depth help to the startup. Should the 99 Tartans Deal Lead not elect to become the mentor, we will still seek to match each startup up with one of the 99 Tartans investors from our diverse member group of CMU alumni.