Year in Review: VC firms sit on a pile of cash but wary of backing startups

India's VC landscape is experiencing a shift. Despite raising $2.5 billion in 2024, investments remain cautious, totalling $10.9 billion. Executive churn is high, with senior figures leaving established firms. Smaller funds are stepping up early-stage investments as global giants pull back. This cautious approach marks a reset from the 2021 boom, impacting deal flow and investment strategies.