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Relevance is often linked to scarcity. As a result, the first everything, whether it’s a birthday, a scientific achievement or a female vice president, has its own weight. Whether this pressure is justified is a discussion in itself, but today we will focus on the ripple effects of India. first Unicorn IPO: Zomato.
Food delivery start-up Zomato, which is expected to start trading in public shares next week, has been called by journalists and industry experts as India’s largest tech public offering to date. The company could be valued at $ 8.6 billion in its public debut, and early indications of investor interest were strong.
As my colleagues Alex Wilhelm and Anna Heim said in their column, Zomato’s eventual performance will be watched by Paytm and MobiKwik, two Indian fintech unicorns who are also looking to go public soon, the 100 or so Indian unicorns, and, of course. , returns – from concentrated venture capitalists. The startup’s success could lead to more venture capital funding, later exits, and overall a milestone for growth investments amid legislative and regulatory tensions.
While the pressure is on to ensure that Zomato is not crushed by public procurement, it is not simply an energy of baseless anticipation. Our reporter in the field Manish singh religiously reported on all the signs India has built towards this event, from the early stage startup fundraising frenzy to how engineers suddenly feel empowered to ask for more money through a increased demand.
A Zomato success could prompt more investors to pay attention to the startup scene, but they will catch up: Indian startups raised a record $ 10.46 billion in the first half of 2021, up from $ 4 billion in the over the same period last year, and $ 5.4 billion in the first half of 2019, data analytics platform Tracxn told TechCrunch. By comparison, Indian startups had raised $ 11.6 billion in all of 2020.
The point to remember here, both in life and in startups, is that the first rarely everything is the result of a single decision. Often times, if you look closely, a milestone is due to a fusion of different wins, successes, failures, and smaller milestones along the way. This doesn’t take away its title as the biggest tech startup to go public in India (relevant and rare!), But it does suggest that ripple effects are not just a side effect of a fundraising event, but can -be the impetus of the IPO in the first place.
In the rest of this newsletter, we’ll cover emerging fund manager trends, as well as tips on fundraising rounds that have nothing to do with round closing. You can find me on Twitter @nmasc_ or listen to me as co-host on Equity.
Emerge, then converge
Image credits: Bryce Durbin / TechCrunch
The closed funds clip led by various, emerging fund managers are unlike anything I’ve seen before. Last week the Female Founders Fund closed $ 57 million for Fund III, Nasir Quadree announced one of the biggest solo GP funds, Peter Boyce II Nears $ 40 Million Close for Stellation Capital and H Ventures landed an initial fund of $ 10 million.
Here’s what you need to know: More and more established venture capital firms are looking to emerging managers for deal flow, and frankly, new partners, according to my colleague Connie Loizos. This week only, the initialized partner recovered Singh’s hair of Founder Collective, making her a new partner in the firm. Don’t expect the trend to slow down anytime soon.
Your round table is not special, but you could be
Image credits: Mohd Hafiez Mohd Razali / EyeEm (Opens in a new window)
It may be easier to raise money than to get fundraising cover. As we discussed in our recent Equity podcast, featuring Alex Konrad, Senior Editor at Forbes, the bar for “the story of the fundraising cycle” has never been higher.
Here’s what you need to know: To stand out, founders need to be transparent about the competition, their industry, and leave those quotes and talking points pre-approved. We get into specific advice about the show and how a numbing effect could harm historically overlooked individuals.
For more tips on fundraising:
Around TC
- The TechCrunch Disrupt Agenda has just been put online. It’s a must-read program and an event not to be missed.
- Have you ever taken a cohort-based course from an edtech platform? I’m writing a story, so please send an email if you’re willing to discuss your experience at any point.
- Shout at Christine Room for recently joining the TechCrunch team. Follow her on Twitter. I’ll wait!
All week long
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Thanks for reading along, everyone. Have a nice weekend, and if you liked this newsletter, be sure to share it with at least one friend!
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