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April 1, 2020 02:45 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/hrbokwXRwYo/investors-tell-indian-startups-to-prepare-for-the-worst-as-covid-19-uncertainty-continues
Investors Tell Indian Startups To 'Prepare For the Worst' as Covid-19 Uncertainty Continues
Just three months after capping what was the best year for Indian startups, having raised a record $14.5 billion in 2019, they are beginning to struggle to raise new capital as prominent investors urge them to "prepare for the worst" and cut spending. From a report: In an open letter to startup founders in India, ten global and local private equity and venture capitalist firms including Accel, Lightspeed, Sequoia Capital and Matrix Partners cautioned that the current changes to the macro environment could make it difficult for a startup to close their next fundraising deal. The firms, which included Kalaari Capital, SAIF Partners, and Nexus Venture Partners -- some of the prominent names in India to back early-stage startups -- asked founders to be prepared to not see their startups' jump in the coming rounds and have a 12-18 month runway with what they raise. "Assumptions from bull market financings or even from a few weeks ago do not apply. Many investors will move away from thinking about 'growth at all costs' to 'reasonable growth with a path to profitability.' Adjust your business plan and messaging accordingly," they added. Signs are beginning to emerge that investors are losing appetite to invest in the current scenario. Indian startups participated in 79 deals to raise $496 million in March, down from $2.86 billion that they raised across 104 deals in February and $1.24 billion they raised from 93 deals in January this year, research firm Tracxn told TechCrunch.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/hrbokwXRwYo/investors-tell-indian-startups-to-prepare-for-the-worst-as-covid-19-uncertainty-continues
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