in venture capital, ultimately “only a handful of companies per year actually matter” just 6 firms led the Series A of ~60% of startups in India that are worth $1B+ today. the list of firms leading investments in these cos is fairly predictable - PANZEL + Tiger Global

and it also turns out there's not too many firms (16) in india who've led early-stage (Seed / Series A) rounds in multiple unicorns only 19% of unicorns haven’t raised an early-stage round led by these firms and only 12% haven't raised ANY rounds led by these firms

the firms that are important might change over the years (i.e Tiger’s fall in importance, Stellaris & General Catalyst’s rise in importance) but it does seem that only a handful of venture firms will lead rounds in important companies

coming to the biggest winners in the ecosystem (by coverage), Accel has led most Seed and Series A rounds in Indian unicorns followed by Peak XV & Tiger Global

i also wanted to see if i could figure out which individuals were the best investors in India (at the Series A). and it turns out the only individual who has led more than one Series A in an Indian company worth $5B or more isn't even a full-time investor, it's mr @sbikh

sorry 7* firm F

sorry 7* firms F