ASYMMETRIC Breaking Down India’s IPO Wave 3, The Series C Drought & Happy Birthday to the ASYMMETRIC Podcast
9 snips
Oct 24, 2025 The hosts celebrate the podcast's birthday while diving into India's upcoming IPO wave, suggesting that 2025 could mirror the impressive activity of 2021. They discuss the challenges facing Series C funding and how domestic capital may fill gaps for late-stage investments. As secondary funds rise due to IPO certainty, they analyze the dynamics of late-stage investing and the impact of liquidity on venture returns. The conversation also touches on the interplay between emerging AI infrastructure and global capital allocations.
AI Snips
Chapters
Books
Transcript
Episode notes
Wave Three Of Startup IPOs
- India is entering a third IPO wave with many startups lining up for 2025–2026 listings.
- Retail flows and profitable public-market-friendly companies are fuelling the momentum.
Series C Drought And Its Effects
- Series C+ private funding in India has materially shrunk compared to prior years.
- That reduction creates both pressure to IPO earlier and potential opportunities for domestic late-stage capital.
Mobilize Domestic Capital For Late Stage
- Domestic family offices should step up to fill late-stage funding gaps by backing local GPs.
- Do target Series B/C where IPO paths and profitability clarity reduce execution risk.
