Search Fund Experience in Asian Emerging Markets

searcher profile

February 09, 2021

by a searcher from London Business School in Singapore

Hi All,

Looking to connect with searchers who have experience in emerging markets - particularly focused in SEA or India. Curious to understand if the traditional model still works, any key learnings that can be applied and where to start.

Thanks,

Nikhil

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commentor profile
Reply by a searcher
from The University of Michigan in Hyderabad, Telangana, India
Nikhil, my experience in India is that many established small/medium sized businesses are not that well organized and due to the nature of black vs. white transactions, business sale/purchase transactions occur primarily through highly trusted "management consultant" networks only. I believe this situation is not amenable to a searchfunder model which is built on a fairly streamlined and transparent due diligence process. Of course if your investors have the appetite, funding sources and networks that fit the current Indian operating model, you can probably get into it and be successful.
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Reply by a searcher
from IE Business School in Mysuru, Karnataka, India
Nikhil, I would like to add that the culture in India is that many enterprises are family owned but this is slowly changing.
I would also suggest you to explore the SPAC model (Special Purpose Acquisition Company) which I know certain PEs use.
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