After closing 207 deals in 2021, the early-stage investor was looking to set a new record this year. Things haven’t quite gone according to plan.
A funding winter for Indian startups, triggered by a global downturn and tightening of norms for alternative investment funds, seems to have spoiled the party for Venture Catalysts. According to four industry executives in the know, all of whom requested anonymity, the Mumbai-based incubator has been walking back some term sheets and revising deals.
Moreover, several angel investors on the Venture Catalysts network are no longer as bullish as they were last year, leading to a shortage of funds, the executives cited above say.
The Morning Context interviewed three founders whose early-stage startups were to receive funding from Venture Catalysts, …
Ashwin writes on fintech and banking at The Morning Context. He joins us from The Economic Times, he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.
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ashwin@mailtmc.com
Delhi