Archana Jahagirdar, Founder and Managing Partner at Rukam Capital, on the sidelines of Startup Mahakumbh 2025 in New Delhi, said India’s startup ecosystem is witnessing innovation across sectors -- from D2C to AI, deep-tech, mobility, and fintech.

Speaking about Rukam Capital’s investment strategy, she said the firm prioritises founders over sectors. “Founders matter far more than sectors. A great founder can build a great company. Often, there’s a bit of discovery when a founder addresses a particular segment,” she said.

Jahagirdar added that India hasn’t fully emerged from the funding winter due to the lack of domestic venture capital. “In the US, where venture capital originated, domestic capital played a key role. In India, we relied heavily on foreign VCs like Tiger, SoftBank, and Sequoia." She added that when these global firms withdrew due to challenges unrelated to India, capital dried up. "That’s why domestic capital is crucial."

She stressed the need for more homegrown funds. “There is still very little capital available. The funding winter has highlighted the urgent need for domestic capital.” On the success of Startup Mahakumbh, she said, “It’s gone very well. Being part of the founding team, you always aim higher, but the response has been positive. People are happy.”

Jahagirdar-led Rukam Capital is an early-stage consumer-focused VC fund, which has invested in over 30 companies, including Sleepy Owl, Curefoods, Beco, GO DESi, and Burger Singh. She was the core member of the organising committee for Startup Mahakumbh 2025, and stands out as one of the few solo women General Partners in the venture capital ecosystem.