VCs are a dime a dozen in the San Francisco Bay Area. So, aside from the bragging rights that come with being seen as a global venture firm, it makes no sense for the now-Indian Peak XV to invest in a market that’s already crowded.
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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.
In India’s funding winter, nobody wanted to put money in the content company. Why has Jungle Ventures done so then?
The recent spate of exits at the newly independent VC firm is not a surprise. It is a reset for a fund that’s so far operated as if it is special and now has to adjust to new realities.