India’s VC AUM surges to Rs 4.9 lakh crore led by domestic capital and small funds: Fibonacci X

India’s venture capital AUM has surged fivefold in a decade, reaching Rs 4.9 lakh crore, propelled by domestic funds and family offices. Funds below Rs400 crore are key drivers, though top VCs yield seven times higher returns. Domestic limited partners now constitute 39% of new funds, up from 20% two years prior, strengthening the local investor base.