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When Aneesh Reddy, founder of Capillary Technologies in Bengaluru, was trying to raise money in 2015, there weren’t that many venture capital companies operating in India that could hand out cheques of $30 million to $50 million — the range Reddy was looking for, to buy out another company he was interested in.
“Most VC folks would dry up at $20 million or even $15 million, and PE firms started at $75 million,” he recalled in a recent interview with
Forbes India. Reddy then became one of the rare Indian tech exceptions at the time, who successfully raised money from a private equity firm instead, at a stage when PE companies usually didn’t move in.