Stop Looking for the "Uber of India." Here's What Actually Works.

What happens when a country generates $145 billion in startup exits in five years - but still doesn't have enough growth-stage investors to count on two hands?Anand Prasanna, Founder & Managing Partner of Iron Pillar, sits down with Rohit Yadav in this special India Series episode to break down what's really happening beneath the surface of India's tech ecosystem. From the missing layer of growth capital to a framework for when founders should actually IPO, this conversation goes deep on the topics that rarely make it into ecosystem discussions. Whether you're a founder, investor, or LP trying to understand India, this one will reframe how you think about the market.Chapters:01:00 — Introduction: Iron Pillar & the India Series01:49 — Origin story: Why Anand started a growth-stage fund in 201603:29 — How many growth-stage funds actually exist in India?05:12 — The tailwinds: What excites Anand and his LPs about India08:11 — The capital cycle and the people cycle08:59 — One belief about India that's only gotten stronger09:11 — "Building from India for the World" — what it really means11:43 — The single biggest change in the ecosystem: Exits13:55 — The one unlock India still needs: The right kind of capital16:16 — What global LPs still get wrong about the India thesis19:46 — Growth-stage investing: What signals matter most?20:15 — "Definite optimism" — the Peter Thiel concept Anand lives by23:39 — How to evaluate revenue quality in Indian startups28:38 — What it takes for an Indian startup to go global32:43 — Is capital the real barrier to going global?34:26 — Brand India: Where does the perception stand today?36:16 — The IPO framework: When should Indian founders go public?39:23 — Why going public too early becomes a trap41:40 — M&A, secondaries, and staying private longer43:08 — Going public in India vs the US: Key differences45:18 — The #1 mistake founders make around exits47:36 — Crystal ball: Growth-stage capital in India by 203050:02 — Contrarian prediction: India will build global product companies51:55 — Rapid fire: One metric, best advice, myths & outlier habits🔑 Key Insights You'll Walk Away With:→ The exit data that proves India's ecosystem has hit a phase change — not just growth→ Why the "X of Y" approach to India investing misses the biggest outcomes→ The IPO math most founders ignore — and why the 400th company matters→ Three distinct paths Indian startups take to go global→ Why Anand believes India will produce the next BYD, Xiaomi, or HuaweiLinks:Anand Prasanna: https://www.linkedin.com/in/anand-prasanna/Iron Pillar: https://www.ironpillar.com/Rohit Yadav: https://www.linkedin.com/in/rohityadav23Newsletter: https://yadavrohit.substack.com/