IndiaSphere

There is a slowdown on the fund raising front. Of about 84 funds from India which are out in the market to raise capital, only about 16 of them have been able to raise a total of $4.56 billion in 2008 till date. This is in contrast to 37 funds closed in 2007 which raised a total of $9.68 billion. In 2006, there were 36 funds closed with a total capital raise of $9.76 billion. (See the graphic, PE Fund Raising In India).
It’s clear, fund raising is not going to be a cake walk if you dont have a track record to show as an investor. "Track record will become more important than ever, as will a defined plan for how the fund manager will adapt their focus to suit the current financial climate," Tim Friedman, spokesperson for Preqin, a London based research firm that tracks private equity fund raising globally.