Venture Capital in India: The Analytical Framework

Having reviewed the VC literature in Chapter 5, it was evident that the valuation, structuring and monitoring of deals have not been covered as well as the pre-investment appraisal criteria. In the context of India, Chapter 6 (Section 6.5) referred to the ‘sparse and somewhat descriptive nature’ of previous research on the VC market, until the arrival of recent studies by Dossani and Kenney (2002), Dossani (2003) and Wright et al. (2002). The latter study considers some of the valuation procedures adopted by fund managers, but does not tackle the issues of monitoring and control. Our research programme complements and extends greatly the work of Professor Wright and his colleagues, and the findings should be valuable for students, academics, policy makers and practitioners.