Private equity investment in India for the first nine months of the year stood at $12.8 billion. This is the highest investment in the past six years for comparable periods for which data was analyzed.
Recent disasters of the startups, especially at the public markets, are having VCs to question such biases or upend their playbook--to go for "boring" instead of "sensational" and increasingly focus more on the "process" than "extremely visible" results.
The development comes amid some of the world's top tech startups experiencing disappointing debuts on stock exchanges, followed by WeWork's decision to withdraw its IPO. Indian startups are, however, confident of pulling off successful public offerings.
Private equity firms that hoped to exit their investments through initial share sales are forced to defer their plans as volatility continues to rock India's stock markets.
In India, funding activity over the past weeks headed into the end of August showed that eCommerce startups focused on home delivery gained traction, as measured by funding rounds.
Pension and sovereign wealth funds are loaded with money, risk appetite and a willingness to wait for long. While SoftBank is still dominant, the late-stage funding market no longer seems to be its domain.