When the Indian team lifted the 1983 Cricket World Cup, it was a watershed moment for sports in India and sparked off a revolution in the same. The win announced the arrival of India as a cricketing powerhouse and established the country as a force to reckon with in global cricket.38 years later, Zomato, created a similar historic moment by being the first startup in India to go for an IPO. It announced the arrival of the maturing Indian startup ecosystem which has witnessed the birth of 40 plus unicorns in 2021 and emerged as one of the global startup powerhouses in terms of startup funding being raised.The ripple effect of Zomato going public was felt across the ecosystem.
Highlighting the impact of the same, Nakul Saxena, Head Fund Strategy & Investor Relations at LetsVenture sheds light on how tech investments went mainstream in 2021 at the Ministry of Electronics and Information Technology of Government of India's flagship event - "Azadi Ka Digital Mahotsav."
- Today there is a heightened interest in tech investments across the country be it across metros and non-metros. At LetsVenture, startups have raised over $400 mn & about 25% of startups registered at DPIIT GoI have gone through the platform.
- The Zomato moment has led to a 3x surge in interest from angel investors wanting to invest in startups via LetsVenture. Interestingly, investors not only want to fund early-stage startups but late stage as well. CXO's & private equity players are also keen to invest.
- Investing in a high-risk asset class is risky & we want our investors to take calculated decisions. We do so through our extensive investor education programs via LetsVenture Varsity & on-ground sessions. But why?
- Today the ecosystem may appear like a bubble hence as a market leader in the ecosystem we need to ensure longevity and sustainability of the same. Angel investing is not just about funding startups but also understanding business models, emerging sectors & more.
- For founders, we are creating circles of influence to help them grow & build market-leading startups. LV Fuel is an industry-first initiative that enables existing founders to give back to emerging founders via funding, mentorship and more.
- To build the ecosystem in the long run - the government, policymakers, investors & startups need to work together to accelerate India's journey as a global startup powerhouse.
- The entire discussion can be viewed below: