Startup valuations back at 2020-21 levels, says Sanjeev Bikhchandani

In 2022, the average cheque size offered in our second fund was roughly 20 per cent lower than that in 2019-21 but with a 20% higher shareholding in companies, said Info Edge founder Bikhchandani

With investments in over 130 companies, which include big successes like Zomato and Policy Bazaar, Info Edge founder Sanjeev Bikhchandani and partners in the venture business Kitty Agarwal & Chinmaya Sharma unveil their plans to Surajeet Das Gupta. Edited excerpts:

 

Is the squeeze in funds by investors during the pandemic now changing?

 

Sanjeev: In 2022, the average cheque size offered in our second fund was roughly 20 per cent lower than that in 2019-21 but with a 20 per cent higher shareholding in companies. But in 2024 and 2025, early-stage valuations are back to 2020-21 levels. So, pre-money valuation for