| | | | | | Hey there! It’s your AI Human Amit Raja Naik's birthday today, and on my special day, I’ve decided to gift you the ‘powder’ story. Hear, hear: India’s VCs are now convinced about spending on AI startups and are trying everything to find the right talent to invest in. | | | | | | | | | | | | Every VC in India is now an AI expert | | | | | Emphasising that capital availability is not a problem, Anandan mentioned that the venture capital ecosystem has $20 billion ready to be invested in Indian startups. He also noted that AI is currently the most promising theme, with investors showing strong enthusiasm for startups in this field. Not surprised. Everybody is at it. Recently, Speciale Invest hosted DevCon, with 50+ technical founders and engineering leaders. Even Stellaris Venture Partners hosted an AI Agents Hackathon, in a bid to attract talent in the space. It’s only a matter of time before the $20 billion dry powder is ‘snorted’ by the AI companies of India, as every VC is slowly turning into an AI-focused investment firm. Makes sense. Khosla Ventures founder Vinod Khosla also recently mentioned that major innovations almost never come from experts; they come from disruptors originating outside the field. | | | | | | | The Mystery Behind the $20-Billion Dry Powder Kyle Stanford, a senior VC analyst at PitchBook, noted that a large portion of the capital invested in high-end venture deals comes from asset managers like mutual funds, hedge funds, and private equity funds. “A lot of recently closed VC funds have been holding onto their capital and waiting for the market to bottom out, or they have a better sense of what the pricing of these deals should be,” he said. According to data from research firm Preqin, the value of PE/VC dry powder in India increased to $15.6 billion by March 2023, up from $12.8 billion in 2022 and $11.1 billion at the end of 2021. Preqin also revealed that 70 India-focused PE/VC firms closed funds in 2022, raising an aggregate of $8.5 billion — the highest annual fundraising value ever. Strong fundraising in the first half of 2022 also contributed to these substantial dry powder reserves. Global venture firms amassed a total of $223.6 billion through Q3, with most of the capital coming from the first two quarters. If this pace continues, it will surpass the total capital raised in 2021, according to PitchBook data. According to a Bain & Co report, investors funding has seen a significant decline since 2021, with annual funds dropping from $40 billion in 2021 to just $4 billion by June 2024. | | | | | | | The share of fundraising by top investors varies significantly each year, peaking at 85% in 2019 and dropping to 4% in 2023. There is a notable increase in total funds raised in 2022 compared to other years, with a significant drop in 2023. This means that the fund accumulated in 2022 is still kept by the investors, adding the cumulative money from all the years. Meanwhile, data from the Q3 2022 PitchBook-NVCA Venture Monitor shows that through Q3 2022, the total value of venture deals involving non-traditional investors reached $145.1 billion, representing about 74% of all US VC deals. This group of investors participated in around 92% of mega-sized venture deals in 2021. A key factor enabling global VCs to maintain and grow their record amounts of dry powder is the significant involvement of non-traditional VC investors. This additional capital, which isn't counted in the VC dry powder figures, has increased the funds available to startups and helped expand the asset class beyond what is accessible to traditional VC firms. | | | | | [AIM Exclusive] Indian Startup Claims its AI Agent is Better than GPT-4o | | | | | | | Are AI agents the next big thing? Bengaluru and San Francisco-based startup Floworks definitely thinks so. The startup, funded by Y Combinator in the Winter 23 cohort, is building AI agents that can handle end-to-end sales functions in an organisation. Read the full story here. | | | | | | | | | | | | | Cypher 2024 marks a significant expansion as it celebrates its 8th edition by branching out to the USA in addition to its already established presence in India. Browse through the links below to learn more about the different editions of Cypher 2024. These links will guide you to comprehensive event information, including agendas, speakers, registration details, and more. | | | | | CDO Vision Series – Dallas & Mumbai | | | | | | | CDO Vision is an exclusive networking event series presented by AIM, bringing together over 30 top CDOs and AI leaders from large enterprises to discuss critical business issues and the future of data and analytics. | | | | | Enjoying Sector 6 (formerly AIM Daily XO)? Share it with colleagues or friends – they can sign up here. We love hearing from our readers! Have thoughts on our new format? Questions, comments, or ideas are always welcome. If there’s a specific topic in AI or analytics that you're curious about, tell us! Reach out to us at info@analyticsindiamag.com. Stay tuned for more insights in our next edition!
Curated with ♥️ in Namma Bengaluru | | | | | | | | |
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