1947 Tech ☀️: 207
Indian immigrant || Global slowdown and more!
1. India leading country of origin for immigrant-founded US unicorns: NFAP study
Immigrants have founded more than half of America’s startups valued at $1 billion or higher, with the highest number of such founders coming from India, a new study by the National Foundation for American Policy (NFAP) has revealed.
The study — Immigrant Entrepreneurs and US Billion-Dollar Companies — found that 66 companies with a valuation of over $1 billion were founded by immigrants from India.
Further, four out of 10 immigrants who have founded multiple billion-dollar enterprises are from India.
These include Mohit Aron (Nutanix and Cohesity), Ashutosh Garg (Bloomreach and Eightfold.ai), Ajeet Singh (Nutanix and ThoughtSpot) and Jyoti Bansal (AppDynamics and Harness).
2. VCs are flooded with unprecedented funds but in no rush to deploy capital
Venture capitalists ( VCs) are mostly gripped by the Fear of Missing Out (FOMO) and that sentiment peaks during boom periods like in 2021, but it takes only a few months for risk investors to change tack.
Six months into the new year, despite raising a record $4.7 billion of dry powder compared to $2 billion last year, as per Venture Intelligence data, for investing in startups, over a dozen VC firms, including Lightspeed Venture Partners, Sequoia Capital, Elevation Capital, and a numb ..
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