'I spent 6 months in Bengaluru and was blown away...': Bitcoin fund boss lists 7 reasons why city's a goldmine

Alessandro Palombo, co-founder and CEO of Unbound Fund, spent six months in Bengaluru and walked away convinced this city is a force to watch. 
In a series of reflections on X, he captured both the unfiltered chaos and the unstoppable momentum that define India’s Silicon Valley.

Bengaluru’s transformation is no accident, he wrote. Once a quiet, leafy retiree’s haven, it evolved from a 16th-century fort town to a British cantonment before emerging as a tech powerhouse. The shift began in 1981 when Infosys planted its roots, and by the ‘90s, the city had exploded into India’s leading tech hub. Today, it boasts a $158 billion startup ecosystem, home to over 40 unicorns and 66% of India’s IT exports.

Ranked #21 worldwide in 2024, Bengaluru isn’t just an Indian success story. “It’s a launchpad drawing eyes from Silicon Valley to Shenzhen,” Palombo noted. He was struck by the sheer volume of talent: over 100,000 engineers graduate annually, feeding into 400+ R&D centers, including Samsung’s largest facility outside Korea and Intel’s AI labs.

That talent density makes Bengaluru indispensable. “It’s why 80% of India’s global IT offices land here—a talent goldmine built over decades,” he pointed out.

The city, he says, has become a breeding ground for billion-dollar startups. Flipkart, Byju’s, and several decacorns call Bengaluru home, fueling an ecosystem that raised $10.8 billion in 2022. As recently as February 2025, Bengaluru led India’s $1.65 billion funding wave. “It’s a unicorn factory,” Palombo says.

Beyond startups, Bengaluru is an economic engine, driving 66% of India’s IT exports. The numbers are staggering—$76 billion in software exports alone. With South India generating 31% of the country’s GDP despite housing just 20% of the population, Bengaluru sits at the core of India’s digital economy.

Palombo sees Bengaluru’s potential for global entrepreneurs. With 100% foreign ownership allowed under FDI rules, direct flights to major tech hubs like San Francisco, London, and Singapore, and living costs nearly 50% lower than Western cities, the city is becoming more attractive. “English is common, and policies favor startups—huge for outsiders,” he noted.

With India aiming for a $1 trillion tech economy by 2030, Bengaluru is leading the charge. Government initiatives like a ₹100 crore VC fund for AI and EVs and ₹50 lakh grants for deep tech startups are already in motion. “I felt the ambition: this city’s wired for the future,” Palombo wrote.

Bengaluru’s rise isn’t seamless. Infrastructure struggles to keep up, and traffic is relentless. “But a $10B metro’s rising, and 100K engineers graduate yearly,” he observed. The city’s dynamism reminded him of pre-COVID China—expanding at breakneck speed. “I remember passing the same street in an Uber and almost every two weeks seeing new shops and restaurants opening.”

However, the contrast is undeniable. Some areas remain underdeveloped, a reality that cannot be ignored. Yet, for the right person, Palombo sees an immense opportunity. “In Bengaluru, chaos and opportunity collide,” he concluded.