India overtook China by adding 23 unicorns in 2022 while the neighbouring country created 11 such startups with valuation of USD 1 billion or more, according to a report released on Wednesday.
According to the IVCA president Rajat Tandon, over the years, the alternative investment asset class has demonstrated remarkable resilience. While 2022 marked a year that heralded PEs/VCs to adapt in the face of unprecedented challenges, it also went on to see record fund-raising and all-time high available dry powder.