As per reports, New York-based Tiger Global Management will rather adopt a two-track approach.
Lee Fixel-led Tiger Global Management will take the aforesaid strategy while pumping money in companies on its portfolio.
Tiger Global Management backs Flipkart and owns significant stakes in Ola too. The investor has also raked around $2 billion, or Rs 13,000 crore, in over 35 Indian companies.
"We have been investing in the discount game for the past five years and realised that there is still no clear winner in those markets," one of the founders said who met Fixel.
"He is going to go slow on India going forward. He has basically told all portfolio companies that if you cannot raise funding externally then I will not invest," a venture capital investor who has several co-investments with Tiger told ET.
Reportedly, Tiger Global Management made at least 38 investments in 2015 as compared to 18 deals in 2014.
"The local services industry is in its nascent stages and overcrowded right now. But early 2016 will be an interesting year for all of us and we will see investors joining hands and consolidation starting. By the end of 2016, just two or three large players will be prevailing in this space," Aditya Rao, founder of LocalOye, a local services provider told ET.
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