Explain the structure of Venture Capital Funds exist in India.

Three main types of fund structure exist which are as follows: (i) Domestic Funds: Domestic Funds (i.e. one which raises funds domestically) are usually structured as: a domestic vehicle for the pooling of funds from the investor, anda separate investment adviser that carries those duties of asset manager. The choice of entity for the pooling vehicle falls between a trust and a company, with the trust form prevailing due to its operational flexibility. (ii) Offshore Funds: Two common alternatives available to offshore investors are: the "offshore structure" and the "unified structure". Offshore structure: Under this structure, an investment vehicle makes investments directly into Indian portfolio companies. The assets are managed by an offshore manager, while the investment advisor in India carries out the due diligence and identifies deals. Unified Structure: When domestic investors are expected to participate in the fund, a unified structure is used. Overseas investors pool their assets in an offshore vehicle that invests in a locally managed trust, whereas domestic investors directly contribute to the trust.