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
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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