Mumbai-based venture-capital firm Lightbox's Co-founder and Partner Siddharth Talwar in an interview talked about venture capital activity in India in comparison to the US and said, "There’s a long way to go". "Real ecosystem has been around in this form [late-stage] for just a few years," he added. Founded in 2014, Lightbox has invested in startups including InMobi and Cleartrip.