After successfully kicking off #VC101 in Mumbai, India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), held its second in-person learning session for #VC101 in Bengaluru on June 15. #VC101 is an industry-led knowledge-sharing programme for first-time fund managers (FTFMs) organised by IVCA in collaboration with knowledge partners – Price Waterhouse & Co LLP and IC Universal Legal.
IVCA’s 2nd Edition of #VC101 in Bengaluru, Educates FTFMs on Fundraising Skills for Success
With over 100 registrations the Bengaluru edition covered themes such as fundraising from global and domestic pools of capital, India’s investment potential, FTFMs to better navigate LP-GP relationships, LPs’ key considerations for investments, and strategies that should be adopted by FTFMs when pitching to investors.
Spearheading the Bengaluru edition Manish Kheterpal, Co-founder & Managing Partner, WaterBridge Ventures, and VC Council member, IVCA, said, “The Venture Capital asset class in India has matured enough to attract a diverse range of investors, including global LPs, domestic institutional LPs, corporate investors, government-sponsored fund-of-funds, and family offices who are taking a more structured approach to managing their wealth.”
Manish further adds, “In the current environment of increased focus on building sustainable and profitable businesses, fund managers will need to equip themselves with superior portfolio construction and fund sizing skills. More tact is therefore required in navigating LP–GP negotiations, fundraising processes as well as full cycle investments-to-exit excellence. IVCA’s #VC101 programme aims to bridge gaps born out of this need and will eventually help build a new crop of successful fund managers in India.”
Other lead mentors who joined the Bengaluru edition of #VC101 were – Anil Joshi, Managing Partner, Unicorn India Ventures; Anand Lunia, Founding Partner, India Quotient; Jayshree Kanther Patodi, Co-founder and Partner, Enzia Partners; Anjali Sosale, Partner, WaterBridge Ventures; Himanshu Mandavia, Partner, Price Waterhouse & Co LLP; Leelavathi Naidu, Partner, IC Universal Legal; Sushreet Pattanayak, Partner, IC Universal Legal; Siddharth Jhunjhunwala, Head Waterfield Fund of Funds, Waterfield Advisors; Ankur Nishar, Director – Deals (Tax), Price Waterhouse & Co LLP; Chirantan Patnaik, Director – Venture Capital, British International Investment (BII); KC Ganesh, President, Pratithi Investments; Krupa Shankar, Principal, NIIF; Naganand Doraswamy, Managing Partner and Founder, Ideaspring Capital; Rohit Bhayana, CEO & Co-founder, Oister Global; Ruchira Shukla, South Asia Regional Lead for Disruptive Technology Investments, IFC.
Through #VC101, IVCA aims to advance India’s venture capital environment and amplify the “India opportunity.” With multiple investors raising their largest-ever India-focused funds in 2022, India currently sits on a vast dry powder reserve. Moreover, recently, limited partners and sovereign wealth funds have demonstrated increased commitment to India, as India’s strong fundamentals are expected to comfortably offset the compression in funding brought on by global macroeconomic uncertainties. Thus, India continues to shine as a beacon of steady growth, and it is this India opportunity that #VC101 aims to push FTFMs to leverage.
Himanshu Mandavia, Partner, Price Waterhouse & Co LLP, said, “Amidst the ever-evolving economic landscape and dynamic regulatory framework, aspiring participants venturing into the fund industry often face overwhelming challenges. The #VC101 programme organised by IVCA, is an excellent opportunity for first-time fund managers to grasp crucial aspects and glean insights from seasoned venture capital industry experts who have successfully paved the path for the next generation of fund managers.”
Tejesh Chitlangi, Senior Partner, IC Universal Legal, said, “I am delighted to serve as a mentor in the VC101 program, an initiative by IVCA designed to guide first-time fund managers. As a knowledge partner for VC101, IC Universal Legal, intends to cover fund structures for family offices in the Bengaluru edition of VC101, and walk first time fund managers through the considerations that they may need to keep in mind while creating AIFs to manage capital from family offices or while raising capital from other institutional investors such as fund-of-funds, development finance institutions and other global investors. This should help first time fund managers tap into growing pool of investors looking to add Indian AIF investments as a part of their portfolio.”
The next edition of #VC101 will take place in New Delhi on July 6. Participating FTFMs can look forward to mentorship from Rajan Anandan (Managing Director, Peak XV Partners), Priyanka Chopra (Chief Operating Officer, Managing Partner, Seed Investing, CIIE.CO, IIM Ahmedabad, and Venture Partner, Bharat Innovation Fund), and Sehraj Singh (Managing Director, India, Prosus Ventures), among others.
Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.