India Will Continue To Be On The Map For LPs Globally: Ruchira Shukla

During a fireside chat at Inc42’s flagship investor event, MoneyX, the regional lead of South Asia for disruptive technologies at International Finance Corporation (IFC), Ruchira Shukla, said that India, along with its startup economy, will continue to be on the radar of limited partners (LPs) across the world.

“Funding winter notwithstanding, this [India’s startup ecosystem] continues to be a very active market for us. India will continue to be on the map for LPs globally,” said Shukla.

Speaking on the growth of domestic capital in India, Shukla said that the space continues to be an active bet for IFC. She also added that India’s startup ecosystem has attained a level of maturity after decades, which now offers better quality deals at fair terms and sustainable valuations.

“Therefore, I urge family offices and corporates to participate in India’s shift towards digitisation,” Shukla said.

Addressing family offices, Shukla said the corporates can think of participation in the asset class to further the work they are doing in their respective industries.

Shukla added that 20% of the global growth is expected to come from India and a great way to participate in that is through the startup ecosystem.

According to Inc42, India is home to more than 300 family offices. Further, the homegrown family offices have backed more than 200 startups since 2014. These offices have been increasingly placing their bets on seed stage startups across sectors like fintech, ecommerce and enterprise tech, among others.

Aer Inc42 estimates, the number of family offices actively taking part in startup investment annually will likely jump 5X to 735 by 2030 from 123 in 2023.

Presented in partnership with Peak XV Partners, supported by Venture Catalysts, JSA, Samsung, IVCA Associates, Indian Angel Network, JIIF and Marwari Catalysts, MoneyX is aimed at bringing the driving forces of the Indian startup ecosystem under a single roof.