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NovoJuris Externalization: Flipping the holding company outside of India \ehave seen tsdy increase the umber o companies, especially tech and tech enabled companies set up theirenies outside of Indi, Hore often than no, the easons are better valtions, bility ora age investments, ge cistomer bse etc, We are ato seinga few companies c,cannatallit renntemaiing and flipping thei holding comgany int nda, Strangely forthe some easons. Heres an excusve interview wth Shailesh Ghorpade, Managing Parner and ClO at Exit Venture Partners Edit provides imavation capital and with established connects and ecosystem ares nla and US, Exit focuses on ploncerngstart.ups tha areready to seal cross the global tage, Ras neat an hourlong cand scusion on all ting aru, _scalig-p, crass bocce, king, Issues typical faced by founders whe expanding. The ld thinking ding the conversation was delightful tones, shard: ing and thanks Shailesh for taking the time to talk tous on your experiences of working ‘with early-stage founders and ther journey of expanding beyond India. You have seen BTB businesses very ‘closely and thave heard you say before that many these entities shouldbe outside of nda. Why and what are those factors thata founder should think through before structuring themselves up ouside ind, Shatles: nnd, wehaveghen mor tention to BTC where the markets, consumer cllersareinindi However, you would have ncticed than many case, these companies ae not domcledin iia, There are many investors uholke the “ndiastory” butthereis some amet on nia domiciled companies. The comfort would be tohave astabletaxregine, stable regulatory elma, cetalay of tepaatngtne proceeds dung anit are samectthos, There ea perception that ti cificalto do businass in nda because of the unpredictable regulatory stivcture and sine business models are evolving faster than regulations Investors are cagey of onerous regulations being promulgated and we do havea reputation forbeing an over regulated economy ether we tke itor not, That sone part oft. Take the other part ofthe 878 businesses themselves Enterprise businesses dont _stasmuch attention as they should though they are wording on citing ede I cling areal protie, capital ‘ficient, Ther are ndan large corporates who need these products Unlike aBTC,itsat “a winner takes ital spprose BTC willneed high capitalintusion tits the distrbuton gamathat we see nda beng attractive fo However, Business frit hard to sll and make money inthe indian market. ndlan enters don't value ‘orsoftare product as much s they should and they dru-down the ices drat. Ris not about how 3 oF

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