Call it the penguin effect, but the news is that 12 venture funds have withdrawn their registration application in the last few days.
Among the funds that withdrew applications, 5 are foreign VCs, while 7 are domestic funds. The total investment proposed by these funds is estimated at Rs 1,000-1,200 crore.
“In the wake of the continuing global financial crisis, investors have started defaulting on their outstanding commitments or are pressurising fund managers to return their existing contributions. These developments may be forcing several funds to reconsider or withdraw their existing venture capital fund applications” – source
VC activity in India
Q4 2008 witnessed major drop in VC activity – an approx drop of ~64% compared to the last quarter.
In Q4 2008, VCs invested $81mn over 16 deals, while they had invested $225mn (over 50 deals) in Q3 2008 and $227mn (over 45 deals) in Q4 2007. The total number of investments in 2008 stands at $740mn (over 125 deals), as against $876 million invested over 144 deals during 2007.
This is really sad…..
I am putting forward a proposal for funding a services industry based project that I intend setting up in New Delhi, India. The project under consideration is to set up a company offering matrimonial services and related activities. It would be initially taking care of the matrimonial requirements of individuals who are seeking life partners and later on it would be diversifying in related activities such as marriage management and managing individual public relations. It would offer a combination of off line as well as on line models of operations and would be operational from multiple location either based on the franchising model as well as self operated regional offices. The service is very much in demand in the Indian market and has a number of success stories to the concept.
Experience: I have the relevant experience in establishing and running such a concept for around 10 years, beginning with a mere 3 member workforce and taking it to 125 What I am looking is to establish a company that offers the services within and outside India and the project could be designed in accordance to the funds available.
The minimum requirement for the project is Rs. 75 lac (USD 150 000) and can go up to Rs. 5 Crores (USD 1 Million) depending upon the aggressiveness of the project that we project to establish in the initial year. The amount is inclusive of capital cost as well as the working capital and the break even of operational cost is projected to be arrived in the 18th month of operations.
In case if you intend funding such a venture, we can discuss further on the terms and conditions and take matters further.
Regards.
Manish Koshal
singlesonline@gmail.com
91 9811153104
For NGO how you will able to provide your services…frankly.