What Sequoia's exclusionary act says about India's startup ecosystem

Many experts believe that a relatively nascent LP ecosystem and a general expectation that VC funds be closed-end in nature prompted the country's omission

A few weeks back, venture capital firm Sequoia announced that it was restructuring its fund structure in a number of ways, the most important being that the 10-year fund cycle would be abandoned. The Sequoia Fund will be able to invest in and hold public stocks indefinitely, bypassing a basic constraint of venture capital which is limited time horizons. 

What stood out in this announcement was that its India arm would not be a part of this restructuring--this was only for Sequoia’s funds in the US and Europe. According to Crunchbase data, Sequoia was the most active startup investor in