Weekly Update #135: Late-Stage Tech Investments in India

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Hello Investors,
Late-stage tech $$ going to India
A number of the leading late-stage tech investors are deploying large sums in Indian technology companies. At least 9 of the 150+ unicorn companies (tech companies worth $1B+) are based in India, and some VCs have allocated a dedicated fund towards Indian investments. Below, we share a quick summary of the Indian late-stage tech investment ecosystem.
Recent Investments:
Indian Unicorns:
  • FlipKart (valuation $15 billion): eCommerce
  • Snapdeal (valuation $6.5 billion): eCommerce
  • Olacabs (valuation $5 billion): ride-sharing
  • InMobi (valuation $2.5 billion): adtech
  • Paytm (valuation $2 billion): fintech
  • Shopclues (valuation $1.1 billion): eCommerce
  • Zomato (valuation $1 billion): restaurant search app
  • Quikr (valuation $1.5 billion): classified ads search
  • Mu Sigma (valuation $1 billion): data analytics

VCs and Institutions that have India-focused Funds:

The focus is not entirely new (Accel Partners raised its first India-focused fund in 2008), though the large checks indicate that the capital being deployed is trending to larger, proven companies looking to scale. Of interest is that most of the companies are leveraging existing company ideas in the US, but catering to the Indian market of 1.2 billion people (of which only 19% use the internet...for now).

FlipKart and SnapDeal look a lot like Amazon. Olacabs is the "Uber of India", and Zomato has a community of restaurants much like Yelp does in the US. Late stage investors are betting on the projected revenue growth that these tech companies can attain as internet usage becomes more mainstream in the world's 2nd most populated country.  

In other news...
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Mark Solon of Techstars reviews the past 16 years of venture capital advice.
Patrick Meenan of Arthur Ventures discusses whether or not the recent tech market volatility will impact investors outside of Silicon Valley.
Phil Haslett | Founder + Head of Investments | EquityZen 

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