Bar to reach mid-stage, get funded has gone up: Iron Pillar's A Prasanna

The vast majority of mid-stage companies are still growing over 100 per cent year-on-year and are re-investing profits on growth, says Prasanna

Iron Pillar, a new venture capital entity that invests at Series-B and Series-C levels in start-ups, closed its maiden fund at $90 million (Rs 6.7 billion). Managing partner ANAND PRASANNA tells Ranju Sarkar why he's targeting this segment and the investors' outlook towards India. Edited excerpts:

How is the current deal flow in the mid-stage market in India that you are targeting?  

We are positively surprised by the steady increase in high quality of management teams, scalable business models and sound unit economics we see. The relatively tight fund-raising environment in India (except for late stage, $50 million-plus deals) ensured that the