New Delhi, May 18 -- Venture capital (VC) investors are becoming more pragmatic about exits, with secondaries, founder buybacks and strategic sales increasingly seen as valid liquidity routes alongside initial public offerings (IPOs). The shift reflects a tougher listing market, where small IPOs are facing delays as mutual funds turn selective, while technology IPOs are also being pushed back by market volatility tied to the West Asia war.

Mint recently reported that companies such as Curefoods, Turtlemint, Indo-MIM, Inframarket, Symbiotech Pharmalabs, Duroflex and KKR-backed Leap India are recalibrating timelines rather than rushing to market.

Secondary activity has become more institutionalised. India saw 51 secondary VC transactions ...