VC40 | Backing India's Boldest Ideas
A definitive ranking of the venture investors with the financial muscle to shape India’s next phase of startup growth through a tougher funding environment.
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Venture funding in India moderated in 2025 compared with a year ago, data from startup intelligence platform Tracxn showed, but the country’s largest investors continued deploying capital across sectors and stages.
The MIT Sloan Management Review India VC40 list ranks the largest venture investors active in the country by assets under management (AUM), based on disclosed fund sizes, regulatory filings, and Tracxn data. Only firms with verified India-linked AUM of $200 million or more have been included.
Several investors didn’t make the cut due to smaller AUM, limited India exposure, or lack of public data. The 40 that did represent the largest capital pools backing Indian startups, with portfolios spanning enterprise tech, consumer platforms, fintech, manufacturing, healthcare, and science.
This list reflects the investors with the financial weight to shape outcomes and the staying power to back long-term bets.
