A lot has changed in the last month, and that’s just putting things mildly. Since the last week or two, in the most literal sense, the world has stopped as everyone watched with disbelief the coronavirus pandemic spread its reach across every corner of the globe.
Start-ups are now facing difficulties accessing capital. The Chinese ecosystems were hit first, with funding declining by over 50% in the first two months of the COVID-19 crisis. Then they were followed by Asian ecosystems, and then by most of the world.
THE IMPACT OF COVID-19 ON GLOBAL STARTUP ECOSYSTEMS PART 1 As our world is shaken in the most dramatic way imaginable, it is time for our global start-up community to get closer, support, and learn from each other. Some of us remember the crash of 1987, the dot-com bubble burst of 2000-2001, and the 2007 financial crisis. With COVID-19, not only is the economic crisis sudden, but the human impact is also horrific.
So, I am usually asked (atleast used to when meeting people face to face was a norm – Aaaaaaah….. the pre-COVID days) if we are investing at present and that leads to start of a pitch. Some brave hearts, though, do venture to find out how I landed up in this space! The latter is a topic of discussion at some other time.
The World V Technology Fund – Series 1 target to have a corpus of Rs. 100 crore. It will invest in early to mid-stage deep technology companies working in industries such as consumer, healthcare, finance, logistics and entertainment.