✳flâneur — a map of the web's best reading

India's Unicorn Hunters - by Anmol Maini

kuwi.news · 869 words · saved by 1 readers

Everyone enters venture thinking they want to democratize the ecosystem only to realize that “only a handful of companies per year actually matter”. This post was inspired by Cole Rotman’s tweet on the firms & investments that have led to large companies being created. There are only a handful of multi-stage venture capital firms in India leading Series A+ rounds in the country - something that hasn’t changed in the last decade. If a founder truly wants to build a massive company ($1B+) they have no option but to raise from one of these firms early in their company lifecycle. Multi-stage firms are often helpful in supporting these companies who have to raise several rounds of capital between their inception and an eventual IPO. So “how important are these multi-stage venture firms in this country?” and “who are they?” The answer was, unsurprisingly, very important. Just 7 firms led the Series A of ~60% of startups that are worth $1B+ today. The list of firms is just as predictable - Ac

India's Unicorn Hunters Anmol Maini Oct 07, 2025 27 3 3 Share Everyone enters venture thinking they want to democratize the ecosystem only to realize that “only a handful of companies per year actually matter” . This post was inspired by Cole Rotman’s tweet on the firms & investments that have led to large companies being created. Subscribe PANZEL tanks hunting down unicorns There are only a handful of multi-stage venture capital firms in India leading Series A+ rounds in the country - something that hasn’t changed in the last decade. If a founder truly wants to build a massive company ($1B+)

Explore this link on the map →

related reading