It's An Opportune Time For Indian VCs

Earlier this year, one of India’s most active VC fund, Blume Ventures, decided to form a strategic alliance called Draper Venture Network (DVN), an independent venture capital firm to connect leading entrepreneurs with investors around the world. The alliance will give Blume Ventures’ portfolio, which includes start-ups such as Runnr, Locus and Exotel, access to a global network of corporate and ecosystem relationships.

- Sneha Banerjee

Entrepreneur asked Gabe Turner, Executive Director at Draper, as to what brought about this strategic alliance in India, which is seemingly recovering from a funding slowdown.

“It’s actually an opportune moment for Indian VCs; through the recent market correction, much like US/Silicon Valley, valuations are coming down, while activity/deal flow is just as high. Blume just closed its second fund and it’s a great time to have dry powder. Demonetization has created a massive fintech opportunity, while the government initiated ‘Start-up India’ program is encouraging founders to innovate in the areas of robotics, hardware, clean energy, and more,” Turner said.