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Indian venture capital industry hits 'brutal' patch

Iron Pillar chief says fundraising taking longer amid global economic slump

Indian startups raised about $26 billion last year, down from $38 billion in 2021, according to management consultancy Bain & Co.   © AP

BENGALURU -- Indian venture-capital fundraising has hit a "brutal" patch, with deals taking far longer to put together than was the case only months ago, one of the industry's top executives said.

Anand Prasanna, managing partner of Iron Pillar, a venture capital company with $400 million under management, told Nikkei Asia that investors remain enthusiastic about the potential of Indian startups but are treading carefully amid concerns about a global economic downturn.

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