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State of venture investments in India, according to Lightspeed
Over 150 investors, including Singapore's sovereign fund Temasek and Malaysia's Khazanah, gathered at Mumbai's five-star Trident Oberoi hotel on a recent In wide-ranging interviews, Lightspeed partners examine right-sizing VC funds in India, spectrum of startup investing and the country's prospects in the global AI race.
Over 150 investors, including Singapore’s sovereign fund Temasek and Malaysia’s Khazanah, gathered at Mumbai’s five-star Trident Oberoi hotel on a recent Friday for venture firm Lightspeed India Partners’ “Lift Off” summit. “Sitting here in early 2024, with the benefit of observing 2023 investment activity levels as well as the pace of start-up creation, I think the answer is yes,” responded Lightspeed partner Bejul Somaia when asked whether Indian VC firms have over-raised, amassing more funds than they can responsibly. Lightspeed Venture Partners India — which had returned over $1 billion to LPs by mid-last year — was unusually restrained during 2021’s period of hyper-exuberance when deals closed in days with inflated valuations and unreasonable founder-friendly terms – a frenzy Somaia hopes the market never revisits.
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