For most of India’s startup boom, founders looking for large cheques knew where to go. Accel, Sequoia, Tiger, SoftBank, Lightspeed and a few other funds supplied much of the growth capital.
That is beginning to change.
The latest ASK Private Wealth Hurun India Cheetah Index has Accel and Peak XV at the top, with 18 fast-growing startups each. Premji Invest is lower down with seven, but its presence is more interesting. It is the first family office to enter Hurun’s top 10 investors in the five years of the index.
Premji Invest manages more than $15 billion and invests across startups, growth companies and public markets. Unlike a conventional VC fund, however, it is investing permanent family capital. That changes the maths.
A VC can believe in a company for 15 years, but the fund itself usually cannot wait forever. Its investors expect money back. The fund needs exits, DPI and a good track record before it raises the next pool of money. A family office faces less of that pressure. If it wants to hold an investment for 10 or 15 years, it can.
For a software company that can start selling within months, this may not matter much. For a company building rockets, batteries, defence equipment, biotech products or semiconductor components, it matters a lot. These companies can spend years on R&D, approvals, factories and customer testing before revenue becomes meaningful.
India is trying to build harder businesses using a funding model designed largely for faster-moving internet companies.
Family offices can help close that gap. An industrial family backing an EV-component startup may understand factories, procurement, working capital and customers who take six months to pay. A pharma family investing in biotech may understand why product development cannot be rushed simply because another funding round is due.
India reportedly has around 300 family offices today, up from roughly 45 in 2018. But they should not be romanticised. Many still depend on VCs for diligence, and some are driven too heavily by one promoter’s preferences. Patient capital can also become lazy capital.
VCs still bring something valuable: pattern recognition from watching hundreds of startups make the same hiring, pricing and expansion mistakes.
The stronger model may therefore be a combination. Specialist VCs can take early technology risk. Family offices can provide patient follow-on money. Government capital can help in strategic sectors.
Let’s go through what else is happening in Indian startup world - Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.
“Jab Miya Bibi Ho Raazi”: SEBI Greenlights Fibe’s IPO
Fibe parent Social Worth Technologies has secured SEBI’s final nod for its ₹750 Cr+ IPO.
The company plans to use ₹562.6 Cr from the fresh issue to fund its NBFC arm.
Read more here
“Abhi Toh Aur Chalega”: NODWIN Gaming Launches Sports Vertical
NODWIN Gaming has launched NODWIN Sports, led by former Adidas India executive Gurbaksh Singh Virdi.
The new vertical will build sports IPs, events and commercial partnerships as NODWIN expands beyond gaming.
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“Hum Co-operate Karenge”: Meta Agrees To Report CSAM Cases
Meta has agreed to report CSAM cases to Indian law enforcement amid government scrutiny.
The move follows an NCPCR inquiry into alleged CSAM ads on Instagram.
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“Mubarakan Ji Mubarkan”: Flipkart Creates 2.5 Lakh Festive Jobs
Flipkart has created over 2.5 lakh festive jobs, including 75,000 first-time workforce entrants.
The expansion strengthens its delivery network while boosting women’s participation and jobs across Tier 2 and Tier 3 cities.
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“Aaiye Aapka Intezaar Tha”: Epigamia Appoints Senior Leaders
Epigamia has appointed Mansi Modi as marketing head and Rahul Bhagat to lead manufacturing.
Modi, who joins later this month, brings 14+ years of consumer marketing experience.
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“Tera Intezaar Hai Ajaa”: BikeWo Appoints Sumanth Badiga To Advisory Board
BikeWo has appointed automotive veteran Sumanth Badiga to its Advisory Board.
With 30+ years of industry experience, Badiga will support its enterprise mobility and logistics expansion.
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“Dekho Wo Aagya”: Daksham Capital Names Saurabh Mundhra
Daksham Capital has appointed Saurabh Mundhra as Co-Founder & Head – West.
With 20+ years in finance and advisory, he will lead the firm’s western expansion.
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“Modi Hai Toh Mumkin Hai”: NPCI Sets 0.4% MDR On Select UPI Payments Above ₹2,000
NPCI has introduced a 0.4% merchant discount rate on select P2M UPI transactions above ₹2,000, effective October 15, 2026. Transactions of ₹75,000 and above will have MDR capped at ₹300.
Consumers will continue to make UPI payments free of charge, and UPI apps cannot levy platform fees.
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Flam has raised $40 Mn in Series B funding led by QED Investors. The mixed-reality startup will use the funds to offer immersive AR/XR content.
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Teachers’ Venture Growth has made a follow-on investment in Darwinbox, marking its second investment in the HCM startup.
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Novastar Partners has invested an undisclosed amount in early-stage VC fund AJVC.
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1312 Interactive has raised $1 Mn in seed funding led by Chimera Venture Capital and TAC. The round also saw participation from angel investors.
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Tamil Nadu plastics recycler, JC Global has raised $9.5 Mn from Circulate Capital, which acquired a significant minority stake.
Read more hereAI-native beauty commerce platform, Firi has raised $3 Mn in seed funding led by 360 ONE Asset, with Better Capital, Kunal Shah and others participating.
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