India, July 19 -- In 2024, private-market investing in India bounced back to about $43 Bn-one-fifth of all Asia-Pacific flows and second only to China in the region. Deal count hit a record 1,270 VC cheques, even as average ticket sizes shrank 20%. Global money is clearly bullish; 87% of the world's 30 biggest funds now write rupee cheques.

Yet domestic pools-India's family offices, corporate treasuries and insurance giants-remain bit-part players. In China, local LPs underwrote the 2010s boom; in India they still fund barely a sliver of VC assets. The mismatch is both a risk and a missed opportunity.

Why Homegrown Money Matters

Stability & Alignment - Offshore capital is hot-money by design; Indian wealth is patient and rupee-denomina...