New companies have preferred sheltered existence under venture capital
The current meltdown of tech stocks in the US might be sending shivers down the spine of many entrepreneurs with planned initial public offerings (IPOs). India’s start-up community needn’t worry since it is at no immediate risk. Unlike their counterparts in the US, Indian entrepreneurs have avoided the vicissitudes of the markets by the simple expedient of sticking to the sheltered existence offered by angels and venture capital. Last year only two new listings, with a combined value of just $5.7 million, were announced in the tech space in India, according to Bloomberg. In the past three years, there have been just two venture-funded technology IPOs of any consequence, Justdial and MakeMyTrip.