Dev Khare, Partner at Lightspeed India, discusses the increasing maturity of the Indian entrepreneurial ecosystem across five-year intervals of Lightspeed's portfolio.
“We looked at our portfolio from 2014, 2019 and 20 24. So five year segments. About, if I remember correctly, about 15% of our founders were second time founders that we backed in that year. Either way, 15%. Today it's 70%.”
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More from Dev Khare
Insight
Khare: Marketplaces Must Fix Fragmented Supply, Not Just Aggregate Demand
“Which I think is a lesson that a bunch of founders and investors learned together here over the last 15 years, that you can't just aggregate at the high level and just provide access. Yeah, ok air tickets and railway tickets, fine, because those are pretty com…”
Dev KhareMar 28, 2025▶ 13:53Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
Insight
Khare: Indian Startups Succeed By Compounding 50% Annually Without Hypergrowth
“You start off, you don't go into a huge negative cash flow. You're going to shallow Jacob and you come out, but you don't grow at, you know, there's no hockey stick. Three X a year. You grow at 70% a year, 50% a year, but you do that for 15 years. If you go 50…”
Dev KhareMar 28, 2025▶ 21:38Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
Insight
Khare: AI-Led Services and Outsourcing Markets Are Larger Than Software
“And these markets are much bigger than software markets.”
Dev KhareMar 28, 2025▶ 40:35Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
Insight
Khare: Tech M&A Requires Multiple Local $20B+ Buyers to Take Off
“My view is that M&A really gets going when you have multiple companies that are worth more than twenty billion dollars that are, that end up being buyers. And we don't have that. Maybe Zumaito is the first one. There might be a couple of others in tech that ge…”
Dev KhareMar 28, 2025▶ 51:41Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
Insight
Khare: US-Expanding Indian Startups Always Churn Their First VP of Sales
“It'll take you one or two years of wandering around in the US to figure out the exact wedge. You know that one of your founders will have to move there. You know that you will churn through your first VP sales. You, there are these things that are kind of like…”
Dev KhareMar 28, 2025▶ 1:03:33Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
Opinion
Khare: India Lags Far Behind the US and Europe in AI
“But we're not seeing anywhere close to the amount of innovation or even applications companies built on innovative infrastructure out of India that we're seeing in the US and to some extent Europe and China as well.”
Dev KhareMar 28, 2025▶ 1:07:35Lightspeed’s $500M Bet On India With 1/3rd In AI Companies | Dev Khare | Neon Show
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