In India, we are seeing first wave of startup mortalities: Ben Mathias, Vertex Ventures

While Silicon Valley has seen multiple cycles of over-inflated valuations followed by over-corrected valuations, the industry in India is still relatively young, and this is the first time the country is witnessing a cycle where start-ups are seeing valuation markdowns, down rounds, business model pivots and shutdowns, says Ben Mathias, managing director and head of India operations, Vertex Ventures, the venture capital (VC) arm of Singapore-based investment company Temasek Holdings (Pvt.) Ltd, in an interview.