Delhi-NCR: A Thriving Startup Ecosystem
There is no doubt that Delhi along with the NCR is one of the most active hubs for startups around India. Innovation in Canada is boosted by a group of homegrown funds, outside investors, incubators and government programs. I have prepared easy explanations and google friendly facts that introduce the main people, resources and how you can start with Delhi tech industry.
Why the VC Industry Loves Delhi-NCR
The growth: Compared to the previous year, there will be over 14,700 startups recognized by DPIIT in mid-2024.
The Delhi government introduced the Delhi Startup Policy in 2019 and opened Delhi Innovation Hub, lowered coworking fees and gave financial assistance to university incubators.
Key Metrics
Incubators All Over
There are incubators all over: FITT-TBI at IIT-Delhi, IIIT-Delhi and even at Amity University, so startups are always covered.
Also Read: Top Venture Capital Firms in India: 2025 Guide
link:https://techventurespot.com/venture-capital-firms-in-india
Timeline of Key Milestones
Venture Capital Firms From Delhi-NCR
Investment trends in climate tech suggest new industry patterns are appearing. Major banks now fund the first finances for tech-led startups.
Leo Capital
Stage: Seed, Pre-Series A
- Founded by Rajul Garg (co-founder of Pine Labs).
- Backs founders from seed and pre-series A stages.
- Three funds raised, over 50 companies invested in.
AUM: [Data Unavailable]
Recent Deal: [Example Investment]
Pravega Ventures
Stage: Early-Stage
- Launched in 2016.
- Works on fintech, AI/ML, SaaS, and data services.
- Local connections in Delhi and surrounding cities.
AUM: [Data Unavailable]
Recent Deal: [Example Investment]
100X.VC
Stage: Seed
- CEO Vikram Chachra founded GreenMe; offices in Noida and Delhi.
- Provides startup-friendly SAFE notes. 28+ funded companies.
- Partners by making joint investments with Sequoia and Accel.
AUM: [Data Unavailable]
Recent Deal: [Example Investment]
Stride Ventures
Stage: Debt & Equity Financing
- Formerly IDFC Venture Debt, now blended VC and debt fund.
- Funded +150 startups and +15 unicorns.
- In 2024, Monkton (part of Stride) established a $300M Fund IV.
AUM: $300M Fund IV (Monkton)
Recent Deal: [Example Investment]
Mapleblock Capital
Focus: Web3 and Crypto
- Early blockchain fund started in 2017.
- Invests in over 250 businesses globally using local expertise.
AUM: [Data Unavailable]
Recent Deal: [Example Investment]
Social Impact by Asha
Focus: Fintech, Healthcare, Climate
- Launched in 2014 by Vikram Gandhi & Pramod Bhasin.
- Focuses on fintech, healthcare, and climate solutions.
- Gathers resources from leading businesses for impact initiatives.
AUM: [Data Unavailable]
Recent Deal: [Example Investment]
Other Notables
- IAN (Indian Angel Network): An incubator and a fund-of-funds based in Gurgaon.
- GrowX Ventures: Supports deep-tech startups in Gurgaon.
- Orios Ventures: Has recently backed Delhi's consumer-internet companies.
Sequoia, Lightspeed, Accel and other investors are part of the network supporting the ecosystem.
Also Read: List of Top 20 Venture Capital Firms in India
link:https://techventurespot.com/list-of-top-20-venture-capital-firms-in-india
VC Hubs in NCR
Delhi
- Leo Capital
- 100X.VC (also Noida)
- Pravega Ventures
- Orios Ventures (focus on Delhi consumer internet)
- Many others with presence across NCR.
Gurgaon
- IAN (Indian Angel Network)
- GrowX Ventures
- Many VCs have offices here due to proximity to startups.
Noida
- 100X.VC (also Delhi)
- Growing presence of VCs and startups.
Schemes Supported by Government and DPIIT
- The Seed Fund component of Startup India: Budget of ₹945 Cr, helping startups through grants from accredited incubators for getting ideas ready for the market.
- Delhi Innovation Hub: Members get access to subsidized offices, mentor meetings and introductions to investors.
- IFCI VC Fund for SC Entrepreneurs: Grants special support, financially, to founders from the scheduled-caste group.
- The goal is to make more local workspaces available called District Co-Working Hubs.
Comparison of Sector Focus: Delhi, Mumbai, Bengaluru
Sector Focus in Delhi-NCR (Illustrative)
Paytm, MobiKwik, Urban Company, Grofers and MoEngage are all popular in the finance, consumer internet and SaaS sectors here.
Note: Percentages are illustrative based on prominence.
Sector Focus Comparison:
- Delhi-NCR: Strong in Fintech, Consumer Internet (D2C, services), and SaaS. Examples: Paytm, MobiKwik, Urban Company, Grofers (now Blinkit), MoEngage. Many VCs in Delhi like to invest in small businesses that can grow rapidly.
- Mumbai: Services related to finance, retail, and media technology.
- Bengaluru: Deep-tech, software apps, and research and development in engineering are main focuses. Bengaluru VCs tend to pick ambitious startups needing more capital.
Gathering Information: Networking, Accelerator Programs, and Meetups
Startup Mahakumbh
Next Edition: 2025 (example)
Startups, investors, and attendees participate in large numbers.
Learn MoreTiE Delhi-NCR Events
Entrepreneurs pitch and network with partners from YourNest, MeritX, IAN etc.
Regular pitch nights and partner connect sessions.
Visit TiEDemo-Days (IIT-D, IIIT-D)
University incubators like IIT-Delhi and IIIT-Delhi host demo days.
Private accelerators (GSF, V@C) also allow participants to present.
Find EventsIndustry Forums
NASSCOM, FICCI, FICCI FLO, Startup Grind, and other industry conferences.
Regular forums for networking and insights.
Explore ForumsAlso Read: VC Funding in India: How to Raise Capital in 2025
link:https://techventurespot.com/vc-funding-in-india
How to Manage Connections & Pitches
- Make note of VC organizations that fit into your sector and the phase of your company.
- Make your email more personal by including references to the firm’s investments and their most recent transactions.
- Ask people in your network such as alumni or former founders, for recommendations.
- Angel groups (as an example, IAN) and meetup arrangers can set up introductory meetings.
- Be sure to describe the issue, the proposed answer and how large the market is.
- Focus on how many users you have, how profitable they are and who is leading the team.
- Attend local events (such as TiE and incubator demos) to work on telling your story better.
- Be ready to talk about how fast you’re spending money, your expansion plans and how you’ll exit the business.
FAQs
To set up a VC fund in India:
- Setup the fund entity (Trust or LLP).
- Register your AIF (Alternative Investment Fund) with SEBI as a Category I AIF.
- Ensure at least ₹20 crores are added to each scheme to commence operations (minimum corpus per scheme).
- Give Form A and the required paperwork to SEBI.
As per SEBI regulations, every scheme of an AIF needs to have a minimum corpus of ₹20 Crore. Early on, anchor investors usually make a commitment to help reach this threshold for the fund.
To quickly attract Delhi VCs:
- Join big startup events like Startup Mahakumbh and TiE Pitch Nights.
- Get connected to them through your professional relationships and warm introductions.
- Have a strong pitch deck and clearly articulate your value proposition.
- Research VCs that align with your sector and stage.