Had a very interesting meeting with Rafiq Dossani yesterday. Rafiq has just finished a study on VC in India and is currently researching Globalization and Venture Capital, in particular how VC firms are responding to globalization of the industry.
Amongst other things, we talked about the “globalization” trends in the Valley.Rafiq had an interesting take on this.
He said contrary to appearances, Valley VCs have not really taken to investing in Asia (or more accurately, there is no strategy at work). What is happening is the Asian (India/Chinese) Partners in most firms are taking a lead in this – and the rest of the team is going along with it as long as money is being made.
If you agree with him, you can see why European VCs are nowhere to be seen – How many Chinese and Indian Partners do you know in the European VC community?