With more than 1.17 lakh (117,000+) DPIIT-recognised startups, India has emerged as the world’s third-largest startup ecosystem and secured $4.8 billion in technology startup funding in just the first half of 2025.  Even though there has been a small decrease in total funding levels compared to the previous year, the ecosystem remains appealing for considerable domestic and international venture capital due to robust growth and astute sectoral investments.

This blog looks at the biggest and most active VC players driving innovation in India—from early-stage domestic firms to global giants investing billions in the Indian market.

Related: Mitigata Secures $5.9 Million to Advance Cybersecurity and Insurance Offerings

1. Peak XV Partners (formerly Sequoia Capital India & SEA)

Peak XV, which rebranded from Sequoia Capital India in 2023, is widely considered one of the largest and most influential VCs in India.

Scale: More than 400 investments, including over 50 unicorns and more than 20 IPOs since inception.

Notable Investments: Zomato, Byju’s, Freshworks, OYO, Unacademy.

Focus: In seed, early-, and growth-stage tech, consumer internet, fintech, and SaaS.

Recent Movement: The transfer of capital from China to India has accelerated the deployment pace of Peak XV;  due to increasing investor confidence, the company intends to double its investments in 2025.

2. Accel India

The Indian branch of the global venture capital firm Accel, operational since 2008. In early 2025, it finalized its Fund VIII with a target of $650 million, focusing on AI, fintech, consumer brands, manufacturing, and SaaS.

Portfolio: Freshworks, Flipkart, Swiggy, MoneyView, BookMyShow, Moglix, and others.

Strategy: Direct involvement, funding during early to growth stages, assisting startups in scaling and securing follow-on investments.

3. Blume Ventures

Established in 2010, it is one of the leading seed-stage VC firms in India.

Investment Activity: Among the three most active investors in Q1 2025, supporting 21 startups such as Swish Club and GoStops with cheque sizes ranging from $1 million to $5 million.

Portfolio: HealthifyMe, Unacademy, GreyOrange, Slice, Purplle.

Thesis: Backs founders who target significant, expanding markets and aims for a substantial disruption.

4. Matrix Partners India

Established operations in India in 2006, investing in more than 60 startups with assets under management exceeding $1 billion.

Major Bets: Ola, Razorpay, Practo, Country Delight, and Dailyhunt.

Focus Areas: Financial Technology, Software as a Service, consumer technology, electric vehicles, health technology.

5. Nexus Venture Partners

Established in 2006, it is the first cross-border fund between India and the U.S.  The total AUM is approximately $2.6 billion.

Flagship Investments: Zomato, Delhivery, Druva, and Postman.

Recent Deals: In 2025, took the lead on a $5.9 million funding round for Mitigata, a cybersecurity startup.

6. Chiratae Ventures (previously known as IDG Ventures India)

Established in 2006, oversees AUM exceeding $775 million.

Prominent investments: PolicyBazaar, Lenskart, FirstCry, Myntra, Curefit.

Stage: Growth and early stage; in 2021, it raised its biggest fund, amounting to $337 million.

7. Elevation Capital (which was previously known as SAIF Partners)

Underwent rebranding in 2020, a recognized early-stage venture capital firm expanding into growth.

Portfolio Highlights: FirstCry, Urban Company, ShareChat, Meesho, Paytm.

Fundraising: Fund VIII for India was recently closed at around $670 million.

8. Bessemer Venture Partners (India Fund)

This is a U.S.-based venture capital firm that launched a dedicated fund of $350 million focused on India in early 2025.

Sector Bets: AI, SaaS, fintech, digital health, consumer brands, and cybersecurity.

Prominent investments: Swiggy, BigBasket, Ola.

Although companies based in India dominate the early/growth stage, a number of global VCs and cross-border firms maintain deep involvement:

• DST Global: A global investor focused on late-stage investments, with previous stakes in various Indian tech unicorns.
• General Catalyst: Has supported approximately 25 Indian startups, such as CRED, Spinny, and Loop Health.  Venture Highway was acquired in April 2023.
• Bat VC: An early-stage fund founded by Indian tech veterans based in New York, aiming at startups in both the U.S. and India;  initiated a second fund amounting to $100 million in 2025.
• Genesia Ventures (Japan): Provides investment in pharmaceuticals and precision manufacturing while aiding Indian entrepreneurs with a worldwide outlook.
• W Health Ventures (U.S.): In the process of preparing a second fund aimed at Indian healthcare startups (~$70 million)a

1. Funding pullback, but still resilient: India’s PE-VC investments fell by approximately 10% year-on-year in January–July 2025, totaling $16.8 billion; nevertheless, the innovation narrative is still alive.
2. Macro reallocation favoring India: Capital that was once concentrated in China is increasingly being directed to India. As geopolitical shifts occur, Peak XV and other firms are increasing their deployments.
3. Rise of deep tech: The growth in exits and new funds in sectors like semiconductors, AI, aerospace, and biotech has been driven by robust governmental and policy backing alongside an increasing interest from investors.
4. Venture debt rising: Companies such as Stride Ventures and Alteria Capital have become leading dealmakers in growth-stage financing, issuing dozens of checks in the first quarter of 2025.
5. Sector focus continues: Core sectors include fintech mesh, SaaS, D2C, healthtech, and enterprise software; In the first half of 2025, the funding volume was dominated by transportation, retail tech, and logistics tech.

The VC landscape in India is supported by a potent combination of local powerhouse firms and global institutional players.  Whether it’s seed-stage champions such as Blume and Seafund, growth-oriented giants like Peak XV, Accel, and Nexus, or specialist deep-tech investors—there’s robust funding accessible for startups in various sectors.