The global venture capital (VC) landscape is undergoing a structural recalibration. In recent years, startup investors have increasingly turned their focus toward domestic limited partners (LPs), marking a notable departure from the earlier dependence on foreign institutional capital. This shift is not incidental—it is being shaped by a convergence of macroeconomic, regulatory, and strategic factors that are redefining how venture capital flows into startup ecosystems, particularly in emerging markets like India.
A Changing Global Capital Environment
For decades, venture capital funds across Asia and other emerging markets relied heavily on foreign LPs, including sovereign wealth funds, pe
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