The Indian startup ecosystem is currently sitting on $20 billion — around Rs 1.6 trillion — in dry powder waiting to be allocated, according to Rajan Anandan, managing partner, Peak XV Partners (formerly Sequoia India).
Dry powder refers to unallocated capital raised by private equity and venture capital (PE/VC) players that are ready to be invested.
This comes at a time when the Indian startup world has been at the receiving end of a funding slowdown, with investors becoming more selective with their bets.
Speaking at the Global Partnership on Artificial Intelligence Summit at Bharat Mandapam on Wednesday, Anandan said.