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Lightrock arrived in India with nearly a billion dollars and royal backing — the Liechtenstein dynasty's centuries-old fortune funding bets on around 40 growth-stage startups.
The firm moved fast, doubled down on existing investments more aggressively than most peers, and scaled hard during the zero-interest-rate boom. Then the cycle turned. Its portfolio — Waycool, Pharmeasy, Dunzo — ran into trouble. New cheques dried up.
Lightrock shifted from investor to caretaker, managing what it had rather than building what came next. A royal wager on Indian tech, still waiting for a payoff.
Tune in.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
The firm moved fast, doubled down on existing investments more aggressively than most peers, and scaled hard during the zero-interest-rate boom. Then the cycle turned. Its portfolio — Waycool, Pharmeasy, Dunzo — ran into trouble. New cheques dried up.
Lightrock shifted from investor to caretaker, managing what it had rather than building what came next. A royal wager on Indian tech, still waiting for a payoff.
Tune in.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
Creators and Guests
What is Daybreak?
Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.
Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.