As India celebrates its first National Space Day, Zerodha CEO Nithin Kamath said it's a matter of pride that India has “many amazing homegrown space startups, like AgniKul Cosmos and GalaxEye, both from the Rain matter portfolio”.
He said, “...spacetech startups, more than other startups, need patient capital,” considering the cutting-edge research and technology needed. "So here's hoping we'll have more homegrown spacetech startups that will make us proud.💪🇮🇳," the Zerodha CEO posted on X.
Patient capital is a long-term investment approach, unlike traditional private equity and venture capital. It ensures sustainable growth alongside financial returns. It's a type of investment in which investors are willing to hold their capital for an extended period, often several years or even decades, expecting a return on investment.
The BGF explains that patient capital strategies vary between funds and business sectors but typically see investments maintained for many years before exiting. During this time, patient capital funds may offer additional support to investee businesses through follow-on funding to help accelerate their growth and increase return on investment (ROI).
Nithin Kamath's statement came on the day India celebrates its first National Space Day on Friday, August 23. Exactly a year ago, India had scripted history as ISRO's Chandrayaan 3 mission successfully soft-landed on the lunar surface. This feat made India the first country to soft land on the Moon's south pole. To mark this landmark event, India will now celebrate National Space Day every year on August 23.
According to the government, “the rapid growth of the space sector is contributing significantly to the economy, showcasing the financial potential of space exploration”.
The government said more than 300 startups have emerged since the space sector opened in 2020. "With IN-SPACe creating an ecosystem of industry, academia, and startups, India is building a thriving environment to revolutionize space exploration," it added.
“India’s commitment to space exploration is stronger than ever with a 132% increase in the space sector budget. This boost will empower ISRO to continue pioneering new missions and support our space heroes in their quest for innovation,” the Centre said.
