India’s VC AUM stands to RS 4.9 Lakh Crore led by Domestic Capital and Small Funds: Fibonacci X

India’s venture capital assets under management (AUM) has risen almost 5 times in a decade to RS4.9 Lakh Crore, fed by a wave of small domestic funds, LPS, small at home funds and family offices that reform the startup investment landscape, according to a new report Fibonconcon Fibonacon.

It shows funds under RS ​​400 Crore that stimulate new capital, while the top quarter of VC’s has achieved seven times higher efficiency than the industry average, which underlines both the boom in the own soil capital and the Power-Law character of venture-investing.

The report indicates that the share of risk capital in the private capital pool of India has increased from RS 1.04 Lakh Crore in 2015 to an expected RS 4.8-4.9 Lakh Crore by 2025, grow from 24% to 36% of the total private capital activa.

“Funds under RS400 CRORE have been the real working horses of the VC industry. An average of 10 new funds of more than RS 300 CRORE have each launched annually in the last three years, which has been added to the dry powder of India,” said Preksha Razdan, investment analyst at Fibonacci X.

Dry powder available for implementation in March 2025 in 2015 from RS 100 Crore rose to RS 5,000 crore, increase no less than 50 times, which reflects a strong appetite for opportunities at an early stage.

Although there has been a significant increase, the report indicates that the return is still strongly concentrated. Of the 169 schemes rated, only 48 returned to their investors at least 50%. Top Quartielfonden registered a distributed-in-paid (DPI) ratio of 3 times seven times higher than the industrial average. “This confirms the Power-Law dynamics of risk capital. The top funds create meaningful results, while the majority yields modest returns, which strengthens the need for sharper fund selection,” Razdan added. A structural shift is also the rise of domestic limited partners (LPS). By 2025, 39% of the new funds had a fully domestic LP basis, an increase of 20% just two years earlier. Family agencies have emerged as influential players: 71% invest directly in startups and almost half writes checks under £ 10 crore, which causes the Ecosystem of India to sow in early stage.

“The rise of domestic LPs creates the necessary diligence and makes fundraising more demanding, but the rooted also rooted capital in India’s own investor ecosystem. This evolution is crucial for building a resilient, locally coordinated startup and CELmani, said Kulmani, said Kulmani, Kulmani.

The report also noted that many of the leading VC companies in India were built by first managers without global templates to follow. Some funds with Saas, Fintech and Consumer-oriented Betting saw AUM grow up to 48 times within a decade.

Operations-Heavy Marketplace Aaggregators survived rapidly saving consumer-one-horns. Retention data from 2021 shows that 83% of unicorns remained resilient, with Saas companies on average more than seven years of sustainability compared to five years for Edtech and Marketplaces.