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The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.
The social media platform, which has seen the number of users shoot up in the past couple of months, aims to be a worthy alternative to X. But it remains to be seen how its ambitions will pan out in the long run.
What is more important for a venture fund—an investment strategy that is sold to limited partners to raise money or ultimately the fund returns that can come from practically anywhere?