[sumang]

Its not the Indian VCs , its the nature of most of the Indians, I am an Indian living in Barcelona , Spain . I know Indians who make significant amount of money (6 digit) every month . They just want to invest in business where they can see returns from next day or month, Its Indian mentality and its common to think like this in India .

[manishsharan]

I think most people, Indians or otherwise, are averse to risks posed by tech startups. An they are also unqualified to do so.

My point was that the VCs in India seem to be mostly MBA or big-company-executive types . I looked at the profiles of some of the GPs at Venture East, the VC backing Little Eye and not one of them seems to have founded a tech startup, in India or elsewhere. Same with GSF.

The reason American start-ups do so well is that quite a large number of GPs at American VC firms were tech entrepreneurs before becoming VCs.

They are happy with their peanut returns. So who are we to complain ?

[pm90]

Well, who doesn't want immediate returns?

The difference is that western societies have developed the concept of long term investment better than Indian one (IMO). It first started out with the Trade Companies (East India Company etc.) and has developed for over 400 years now (EIC was established in 1600).

Actually, the concept of using other people's money to make a profitable business might have started even earlier, but that is all that Im personally aware of.