Venture capitalists backed Indian consumer Internet startups left, right and centre in 2014 and 2015. An absence of sustainable business models, high cash burn and mounting losses at most startups checked this euphoria thereafter. But VCs still have a massive amount of dry powder left and they need to figure out how to deploy this capital. What are the new domains that VC investors can back? Is India now waiting for a consolidation among VCs? A panel of top executives at VC firms including Jungle Ventures, Norwest Venture Partner and IvyCap Ventures talked about these issues at the News Corp VCCircle Limited Partners Summit 2017, held in Mumbai last month.