Global VCs are trying to keep startups warm during India’s funding winter ...Middle East

Quartz - Economy
Global VCs are trying to keep startups warm during India’s funding winter
source : Quartz ( Middle East ) () 23
Marquee investors are trying to revive India’s startup scene.Matrix Partners India, which backs unicorns like Ola and Razorpay, is setting up $450 million (Rs3,522 crore) for its fourth and largest India fund yet. The move comes a week after Sequoia Capital said it was raising a $2.85 billion corpus for southeast Asia, of which $2 billion would go to Indian startups.Earlier this year, other US-based firms like Accel (backer of Flipkart and Swiggy) and Elevation Capital (Paytm and Unacademy), too, set up their largest-ever India funds and raised over half-a-billion dollars each. Lightspeed Venture Partners, which closed a $275 million fund in 2020, is looking to nearly double its new India fu

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