Mettle Capital, a new VC fund started by three former partners at Sequoia India after a contentious exit, has raised $350 million to invest in Indian tech startups, according to two sources with direct knowledge.
Mettle’s fundraise is an indication that LPs are not yet writing off India as an investment destination or technology hub, even though the investors and founders in the region are undergoing a moment of soul-searching, with many eyeing Silicon Valley as US AI startups widen the gap with the rest of the world.