2025 Year in Review: Smaller seed funds reap bumper harvest on exits

While attention through the year was largely centred on marquee, bulge-bracket IPOs and billion-dollar secondaries involving large global funds, India-focused early-stage firms such as Kae Capital, 3one4 Capital, VenturEast, IndiaQuotient and AdvantEdge, among others, garnered significant returns in relative silence.