Sudhir Sethi, founder and chairman of IDG Ventures India, on how innovation and technology are changing the entrepreneurial ecosystem in India and why new-tech companies are the gamechangers.
India-focussed technology venture capital fund IDG Ventures India has raised about ₹2,600 crore over the last 10 years of which it has invested about ₹1,700 crore in a slew of Indian startups. To date, the fund has exited from 13 startups that it had invested in, including Myntra, Lenskart, Hiree and Manthan.
Sudhir Sethi, 58, founder and chairman of IDG Ventures India, tells Forbes India that he’s now betting big on “deep-tech” startups. “We are investing in technologies which will be relevant 5-7 years down the line,” he says. In a freewheeling chat, Sethi, who was a part of the launch team of HCL’s and subsequently Wipro’s computer division, shares his views on the Indian startup ecosystem, high valuations of startups and what excites him about Indian innovation. Edited excerpts:
IDG Ventures India (along with Axilor Ventures) launched a Frontier Tech Innovators Programme, which would invest in and partner with new-age disruptive startups. What was the need for such a programme?
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