Today’s episode connects market milestones with on-the-ground rails for MSMEs and early-stage builders.

Things We Saw on the Internet:

• Pine Labs raised ~₹3,900 cr; listed Nov 14 at a ~$2.9B valuation vs ~$5B (2022); traded ~28% above issue on debut; FY25 revenue ₹2,274 cr; net loss ₹145 cr.

• Elad Gil is doubling a new fund target to ~$3B to double-down on breakout AI bets.

• Michael Burry de-registered Scion Asset Management (Nov 10); last AUM ~$154–155M.

• Cursor announced a $2.3B Series D at a $29.3B valuation (Accel, a16z, Coatue, Thrive, Nvidia, Google).

• Parallel (Parag Agrawal) raised $100M Series A at a $740M valuation led by Kleiner Perkins & Index.

Guest Segments:

🏗️ Aditya Tulsian — Co-founder & CEO, axiTrust; Co-founder, NH1 DesignHow surety bonds stack up against bank guarantees, what MSMEs actually feel on the ground, and near-term adoption/milestones after the latest round.

💸 Abhishek Nag — Head of Early Stage VC, 360 ONE AssetWhat he backs at day-zero, how domestic capital is shifting, and where India’s venture stack heads over the next 3–5 years.

This episode is made possible by Smartworks, India’s largest managed office platform.

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