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March 9th, 2007
India VCs Get Options Shock
Abstract:
Because most venture-backed companies operate from offshore—the African island of Mauritius is the favorite offshore location for VCs, with Cyprus and Singapore as runners-up—India has been changing its tax structure to lure companies onshore.
Part of that program taxes companies in key industries—biotech, software, nanotech, and others—the same as if they were incorporated offshore.
VCs Launching Funds
All this comes at a time when U.S. VCs are launching new funds in India. One of the largest VCs, New Enterprise Associates, recently announced a $200-million fund to invest in Indian technology startups, particularly in the telecommunications, media, and outsourcing industries (see NEA to Invest $200M in India).
Source:
redherring.com
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