News Snapshot:
at the end of march Last year, as the virus spread across India, investors began to worry about the impact a potential pandemic might have on their portfolio firms. They exchanged notes, and on April 1 wrote a joint open letter to the local startup ecosystem, advising firms to “prepare for the worst.” In the months that followed, the virus engulfed the South Asian market and put the brakes on funding activity, among other things. To avoid the unprecedented phenomenon, startups started cutting expenses. Some did not survive, and some were acquired at fire sales. Many entrepreneurs and investors stepped...
