7 VC Funds Shaping India's Booming E-Commerce Business

Moreover these seven investors are in the list of India's top 15 e-commerce properties  individually or with other VCs. Accel Partners leads the way with 54 investments and it is then followed by Helion Ventures, Nexus Ventures and Tiger Global, respectively.

"Our bet is on the whole digital consumer segment, which includes online ticketing, e-commerce, mobile, online advertising," said Sudhir Sethi, founder and chairman, IDG Ventures India.

These VCs are engaging with portfolio companies in multiple ways. "They have provided access to capital, have been patient as their entrepreneurs evolved, in some cases changed their business models, and supported consolidation," said Aashish Bhinde, executive director, Avendus, a firm advising on deal transactions.

The Flipkart and Myntra merger was among the landmark decision made in the recent past in which Accel and Tiger managed to hold upwards of 40 percent. But this hasn't been the only such deal. In 2012, when books and electronics was the largest selling category online, Flipkart acquired Letsbuy.com, an electronics e-tailer. Similarly, the same year, Myntra acquired Exclusively.in, which owned a private label brand. Accel and Tiger Global were investors in both Letsbuy.com and Exclusively. In.

"Accel was one of the earliest movers in e-commerce," said Arun Natarajan, CEO, Venture Intelligence.
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