The two-day event aims to spark partnerships by enabling "in a short window, many views, ideas and investments to be shared between nC2 connections (every permutation and combination)," described Karthik Reddy, co-founder of Blume Ventures. The event builds on the success of last year's inaugural Lift Off, which helped spur deals and networking, including paving the way for Singapore sovereign fund GIC's investment in business-to-business marketplace VeGrow later in the year. The upbeat atmosphere this year reflected India's rebound in startup funding over the past three to four months.
Over 150 investors, including Singapore's sovereign fund Temasek and Malaysia's Khazanah, gathered at Mumbai's five-star Trident Oberoi hotel on a recent In wide-ranging interviews, Lightspeed partners examine right-sizing VC funds in India, spectrum of startup investing and the country's prospects in the global AI race.
New capital — in primary funding — is increasingly hard to come by due to a host of reasons, including global macroeconomic conditions and a reset in valuations. In this scenario, existing investors who want a partial exit from older investments are game for such deals.
Ending the week with a bang (and not a whimper) is this big piece of news: iPhone maker Foxconn is in talks with some Indian states to set the ball rolling regarding its plans to manufacture electric vehicles in India, sources have told us. Because the car is the new device? This and more in todays ETtech Morning Dispatch.
After having secured $500 million from Abu Dhabi Investment Authority (ADIA), the Gulf Sovereign wealth fund (SWF) in March, eyewear startup Lenskart has now raised another $100 million from private equity fund ChrysCapital as it aims to expand to more markets.