‘Venture capital-backed companies surpass $50 bn in public market cap’

BENGALURU: The country’s start-up ecosystem is increasingly becoming driving force behind the country’s economic progress, with VC-backed companies crossing $50 billion in public market capitalisation, said Shekhar Kirani, Partner at Accel.

He said Indian founders have built resilient and enduring businesses which have been embraced by public markets. Global VC firm Accel, which raised a $650 million early-stage fund, on Monday said it will focus on sectors including AI, consumer, fintech and manufacturing.