New Delhi, April 7 -- India's venture capital (VC)/growth equity market continued its upward trajectory in 2025, reaching approximately USD 16 billion and logging its second consecutive year of growth. Looking ahead, "investor conviction is expected to concentrate around tech-first and infrastructure-led themes, including AI and generative AI, Q-commerce enablement, and clean energy," according to a joint report by Bain & Company and IVCA.

As per the report, capital is likely to increasingly flow to models demonstrating clear monetization and governance discipline. The findings noted a sustained shift toward profitability-led capital deployment, with structural growth tailwinds from 2025 extending into the current year.

"Investor focus ...