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Founder Thesis

Anand Prasanna (Iron Pillar) on Why Growth-Stage VC is India's Biggest Opportunity

Founder Thesis · 2025-11-20 · 1h 36m

Episode notes

In this episode, we unpack the $4M-$10M funding gap that's stranded hundreds of Indian startups, why Anand raised $45M during COVID when everyone else froze, and the brutal truth about unicorn valuations in India's tech ecosystem. Anand Prasanna is the Managing Partner of Iron Pillar, a $400M+ venture growth fund that's cracked the code on taking Indian companies from $10M to $100M in revenue and shepherding them to IPO. With exits like Bluestone's NSE listing and Vyome's historic Nasdaq debut, Iron Pillar proves that the "India for the World" thesis isn't just talk, it's delivering real returns. From his days at McKinsey and Sequoia to running Morgan Creek's Asia office in Shanghai, Anand brings a rare global lens to Indian venture capital. He shared his contrarian playbook, investment discipline, and why he's passing on the AI hype cycle in this candid, no-holds-barred conversation with host Akshay Datt. Whether you're a founder navigating Series B, an LP evaluating fund managers, or an operator curious about what metrics actually matter at scale, this episode breaks down growth-stage VC like never before.

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