For every ₹100 deployed into India’s startup ecosystem, women founders receive ₹4.

That number has held steady despite growing participation, stronger operating performance, and an expanding base of experienced women operators stepping into founder roles. The data suggests this is not a short-term fluctuation. It is a structural allocation pattern.

Capital markets are designed to reward discipline, resilience, and capital efficiency. Many women founders are building under tighter constraints and reaching meaningful milestones with fewer resources and fewer second chances. Over time, patterns like this raise an important question for investors: what are we failing to price correctly?

The CXXO Report 2026 documents where the gap originates, how it compounds across funding stages, and what sustained under-allocation means for long-term returns.

I look forward to hearing your reactions to the report.

— Vani Kola

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