India’s startup and capital markets are going through a quiet but consequential reset. While funding headlines have slowed and IPO euphoria has tempered, deeper structural changes are unfolding behind the scenes. Two recent developments capture this shift well: the ongoing churn at Peak XV Partners and the much-anticipated IPO debut of Fractal Analytics. Together, they reflect how India’s tech ecosystem is maturing—sometimes uncomfortably—into its next phase.
The Peak XV Churn: A Sign of Evolution, Not Instability
Peak XV Partners, formerly Sequoia Capital India & Southeast Asia, has been a defining force in Indian venture capital for over a decade. Its rebranding last year marked a symbol
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