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With a capital crunch creeping into the market, startup founders may find it difficult to raise funds at attractive valuations in the coming months, according to industry players. During a joint programme with Meta, formerly known as Facebook, Kalaari Capital's Founder and Managing Director Vani Kola on Wednesday said that customers may defer their purchase decisions and startup founders will need to tighten up their belts and look for alternative opportunities for the business. "There is going to be a period where customers are going to delay certain kinds of decision making, but maybe there are other decisions that they make. I do think, and added to that liquidity that has overleveraged, funds in public markets will flow down ... While we only recently celebrated the 100th unicorn, any of those 100 unicorns today if they have to raise capital will perhaps get a haircut of 30 if not 50 per cent," Kola said. Kola said she has seen four to five financial downturns and whenever there