Mumbai, Sept. 16 -- Indian startups in their earlier stages need more patient capital through evergreen or longer-lived fund structures, as wealth creation often extends beyond the traditional venture capital (VC) cycle, Dinesh Pai, who leads Zerodha-backed Rainmatter's venture investments, said in an interview.

"While VCs have driven significant innovation in India, startups need more patient, entrepreneurial capital or longer fund structures, as most wealth creation happens over a company's lifecycle, not in the first seven to eight years," Pai said, adding that the concept of evergreen funds is more prominent in developed markets like the US.

An evergreen fund is an open-ended investment vehicle that has no fixed end date and allows ...