How India’s Deep Tech Investors are Exiting Smart

“Where’s the exit?” For years, venture capitalists investing in India’s deep-tech ecosystem have had to answer this tricky question from their limited partners.  Billion-dollar deals like Flipkart and Paytm in consumer-tech or fintech once provided investors with a straightforward liquidity narrative. But deep-tech startups, from AI infrastructure to semiconductor IP and robotics, have traditionally offered longer, riskier timelines with uncertain payoffs. The Evolution Flipkart’s $16 billion acquisition by Walmart in 2018 was a watershed moment for India’s venture capital ecosystem. It proved, as Brijesh Damodaran, managing partner at Auxano Capital, noted, that “India can deliver multi-billion-dollar outcomes and global strategics will pay real money for marke