Top venture capitalists convene in Bengaluru to address lapses in the startup ecosystem
On 17th May, top venture capitalists (VCs) held a high-profile conference in Bengaluru where top investors had a discussion about investment strategies and addressed issues of corporate governance lapses prevalent among Indian startups. The event aimed to form collaboration, exchange insights, and largely to come up with solutions.
The event was organized by Seqouia Capital India, which is an investment firm. The event also saw participation from prominent early-stage VC firms including Accel, Lightspeed, Matrix Partners, Fireside Ventures, Blume Ventures, Prime Venture Partners, A91, Stellaris and Orios Venture Partners, among others.
During the event, SoftBank Group Corp also spoke about their plan to further bring in AI and innovative technology. There were also discussions about the collaboration between startups and the Indian government in order to boost the startup ecosystem.
This conference comes at a time when venture capital firms have become more aware when it comes to funding as the market has been unpredictable. According to a report by Tracxn, currently, Indian startups have dropped down by 60 percent in 2023 to $10 Bn compared to 2022.
Participants emphasized on the significance of due diligence while investing in startups. While stressing the need for investors to scrutinize a company’s internal controls and to foresee future risks.
With Bengaluru being a prominent hub for startups and venture capital activity in India, the city was an ideal place to hold this conference. The presence of these top venture capitalists exhibited the commitment of the investment community who aimed to bring in solutions in the startup ecosystem towards a more sustainable growth.
