I’ve always maintained that #fundraising is the most humbling task in the life of any #FundManager. Here’s thread on why #domestic #IndianVC practice can never scale to the global levels. The fault is less in our stars & more in the people who are the shinning Heirs of .

1/n Heirs to Lala businesses of India are of two kinds- suppressed smart individuals and arrogant cocky morons. Now here’s where trouble begins- The first kind wants to invest in newer asset classes but have absolutely no decision making in their hands while the second kind

2/n genuinely believe that the sun rises from the cracks of their backside. They are made to believe this by their fathers n forefathers as #Money= #Power=Superiority. This class of people think that by inheriting money they have automatically inherited the right to be above all.

3/n While it’s heartening to see the first kind try and bring change by doing things differently; the second kind is ignorant n oblivious to any recommendations whatsoever. They would rather buy a shinny new @LandRover or @gucci vs invest right. Needless to say Lalas have missed

4/n an entire decade of opportunity for this precise reason. It took a pandemic for them to even adopt basic #technology. You think they will ever invest in a technology fund vs #midcap stocks of a bull ? Answer- No !

5/n @TVMohandasPai is right on his numbers. Lifetime Total VC/PE capital raised by #Indianfunds is less than what our US counterparts do in a quarter. It’s not that we lack talent we just lack the #blueblood LPs needed for understanding this assetclass. Impatient capital & legacy

6/n problems such as the @ILFSGroup etc will never allow large capital to be allocated to Indian VC/PE. It’ll take a whole decade of change in mindset, change in corporate leadership to make more 1st Kind Heirs take charge of a newer wiser saner India.

7/n Until then keep enjoying the party from the side lines. A party organised and attended by Foreigners who see more potential in our country than our own #thoughtleaders & corporate families. Keep playing the #stockmaket with the same 25 names rising in #marketcap.

8/n I know I sound like a disgruntled man here but I’m more disappointed than disgruntled. Disappointed at seeing opportunities go by, disappointed to see #wealthmanagers ask for more than their fair shares, disappointed to see #StartupIndia & #AatmanirbharBharat fail us.