One recurring theme I hear from Indian founders is this: “VCs don’t give us a patient hearing.” When you look at the numbers, it starts to make sense — just 1,647 SEBI-registered AIFs (as of 31st Aug 2025) versus 191,699 startups recognized by Startup India. The imbalance is stark.
And then there is the line every founder dreads: “You’re too early for us.” Founders need to understand that it’s not a dismissal; it’s context. A fund in its 2nd year will have a very different risk appetite compared to one in its 8th year. Lifecycle matters. Early-stage founders need to be pitching to early-stage funds.
To make this easier, I’ve put together a list of AIFs by vintage (Jan-2023 onwards).
Founders, my request is simple:
1. Don’t just scan the list. Deep dive into each fund’s philosophy and portfolio.
2. Be intentional. Reach out to funds actively investing in your sector. Skip the random cold mails.
This is not a pitch. Not a plug. Just a small nudge towards smarter fundraising. The ecosystem deserves it.
