The session featuring VCs was chaired by Saurabh Srivastava, Chairman IVCA and APVCA, and also featured Arati Prabhakar of US Venture Partners, Javier Echarri, Secretary General, European Venture Capital Association, Dali Sardar, Founder & CEO of DTA Ventures Malaysia, David Fong, CEO, I Spring Venture Managment, Malaysia, Galina Duckworth, Executive Director, FIIA, South Korea and Teresa Yang, Secretary General, TVCA. Some comments made during the session:
– US Markets are lagging and US VCs are not US centered anymore
– In Europe, some VCs in their second and third funds have trouble convincing investors because of the dot com bust
– EU Venture Investors are mainly investing in Energy and Environment. Semiconductors and Software is losing steam
– Asia has become the center of global economic action over the last five years. The catalyst was the crisis in 1997
– There is never enough money for early stage funding; most ideas do not have new technology, apart from the US
– 90 percent of business plans get trashed. Of 10, 2-3 will get funded
– VCs are not in the business of getting their principal back. They want returns four times or five times their principal.
Views on India:
– India has a combination of rapidly growing consumer base and great talent and connectivity
– Cultural proximity between India and Europe will result in more partnerships
– India needs the political will to allow money to be raised for VC funds
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