[Scythian]

"Indian venture capital has endured a rocky period, with an arguably more challenging environment as problems emerged in some startups in relation to inflated valuations as well as risk aversion. At the height of the Covid-19 pandemic, venture capital investment in e-commerce and healthtech was a no-brainer. But there have been significant markdowns in the value of some Temasek investments, such as India’s PharmEasy, which it invested in at a peak value of US$5.6 billion in 2021 but saw its value slashed 90% in a US$300 million funding round last year; it was an early investor in PharmEasy, leading a US$220 million funding round in November 2019 that valued the e-pharmacy at US$700 million.

Temasek also had its fingers burnt with Indian ride-hailing app Ola, owned by Ani Technologies, with its stake diluted as it has opted out of funding rounds. "

https://globalswf.com/news/temasek-s-exi...licybazaar."