Average DPI for early-stage Indian funds is 0.46x. Fewer than 1 in 4 have returned even half their paid-in capital, and those that did took ~6.5 years to get there (
@Crisil Intelligence x
@OisterGlobal AIF Report).
No surprise, then, that secondaries have become the dominant liquidity pathway even at
@AngelListIndia. In 2023, secondaries accounted for just 25% of total exits. By 2025, that number shot up to 90%.
Stay tuned for the full report!