Search Fund Experience In Asian Emerging Markets

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02/09/2021 Redacted Redacted

searcher London Business School McGill University

SEARCH FUND EXPERIENCE IN ASIAN EMERGING MARKETS

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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admin Massachusetts Institute of Technology - MIT Sloan School of Management Taylor University Stanford University - Graduate School of Business - 02/09/2021

^[redacted]‌ - You can find other Searchfunders in India and Southeast Asia under the Directory tab at the top of this screen. Filter by "India" in the location field. Here is the direct link for the map view: https://www.searchfunder.com/user/map/searcher

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searcher London Business School McGill University - 02/09/2021

Great, thanks Luke!

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admin Massachusetts Institute of Technology - MIT Sloan School of Management Taylor University Stanford University - Graduate School of Business - 02/09/2021

Tagging a few Searchfunders in India and Southeast Asia that might be able to contribute to this thread: ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌,^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌,^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌ .^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌ (To our friends in India & Southeast Asian, THANK YOU for helping to make Searchfunder a collaborative. community. Be sure to check out our brand new integration with IBISWorld, available under the Industries tab at the top of this screen. Here is the direct link for Global Reports: https://www.searchfunder.com/ibisworld?country=0. With Best Wishes, ^[redacted]‌).‌[redacted]‌

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searcher The University of Michigan - Stephen M. Ross School of Business Purdue University Indian Institute of Technology, Madras - 02/10/2021

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.

like reply | 2 likes

searcher London Business School McGill University - 02/10/2021

Thanks Srinivas - very useful to know. Would be great to chat further about this if you’re free sometime this week or next week!

like reply | 0 likes

searcher University of Minnesota - Carlson School of Management Panjab University - 02/10/2021

Nikhil, I echo with the thoughts of Srinivas, however I have experienced that businesses with international presence have better books and might be amenable to the search fund acquisition model. Especially ITeS space.

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searcher London Business School McGill University - 02/10/2021

Thanks Tarun - that’s good advice. Are you also considering a search model in India? Would also be great to chat if you have some time to hear your perspectives!

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searcher IE Business School Bangalore University University of Toronto - Joseph L. Rotman School of Management - 02/11/2021

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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