INDIA'S ECONOMY AND stock markets are booming, but its startups are not.
Investors, once eager to pump in billions of dollars in promising Indian tech ventures, are now going slow and cutting smaller cheques. They've been burnt by ignominious falls from grace-and valuations for once-marquee young firms or market debutants of recent years such as digital payments company Paytm.
Karthik Reddy, managing partner at Blume Ventures, which has invested in hundreds of early-stage startups, said his firm plans to do about eight new deals this year compared with 12 last year. It will invest bigger sums in firms it is confident about instead of spreading funds across more companies.
"When your existing portfolio is not showing gains, it is hard to be excited to do more," he told Reuters.
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