At a time when funds raised by Indian startups have hit a two-year low in the three months to December last year, India-focused funds have the highest-ever unallocated funds with them—$23 billion in 2022, compared with $15 billion in 2018, data from a Boston Consulting Group report show. Many new funds have joined this club last year. Investors are taking a ‘wait and see’ approach, especially on late-stage startups even as early-stage start-ups are seeing some traction.
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