National : India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), today launched a one-of-a-kind learning and knowledge-sharing programme on fund management – #VC101, for emerging venture fund managers. It is one among several initiatives by IVCA to strengthen the environment for venture capital in India and push India as the leading fund management hub in the world.
In India, the private financing market has emerged as a strong wall of support for the homegrown startup ecosystem. The recent Bain & Co.- IVCA report suggests that Micro VCs (MVCs) became significantly more present across the landscape in 2022 with the base of active MVCs growing from 65 to 80+ over 2021–22. Micro VCs and domestic funds and other small funds (CVCs, family offices, and new funds) also accounted for a salient share of investments in 2022. As more limited partners and family offices look to invest in alternatives viz-a-viz public equity, the sector is on the road to witness an explosion in venture-backed companies. In continuation of this trend and with alternative investment funds growing at an annual rate of 20% over the past decade in India, the meteoric rise of micro-VCs (with an active fund size of less than USD 30 Mn) and first-time fund managers has been inevitable.
“The growth of entrepreneurship in India has been accompanied by the rise of PE-VC, both of which have contributed substantially to the country’s rapid economic progress. IVCA’s #VC101 Series, with sessions led by seasoned venture capital investors, should be of great value to budding venture capitalists in India” said Rajan Anandan, MD, Sequoia India & Southeast Asia, and Surge & Chair, VC Council, IVCA.
The exponential growth of the industry, thus, necessitates proactive attempts to build an empowered, engaged, and experienced class of venture fund managers. Presently, in India, the trend is that most venture funds are led by new, first-time, emerging fund managers who find key activities such as raising capital, networking with limited partners, and building a team challenging in the formative years of the fund. Accordingly, #VC101 is an exclusive learning and development programme curated for first-time fund managers, micro-VCs, and active/new family offices by seasoned fund managers from IVCA’s VC Sector Council Members, who have raised multiple funds, have enabled exits and now wish to give it back to the ecosystem. It will feature sessions by industry veterans – GPs, Knowledge Partners, Limited Partners, Government leads, etc. by equipping emerging players with the knowledge to tackle the unique challenges faced by this alternate asset class. Participants will get the opportunity to receive mentorship from and network with limited partners, leading general partners, family offices, and Government of India officials.
Rahul Khanna, Co-Founder and Managing Partner, Trifecta Capital, and Co-Chair, VC Council, IVCA, remarked, “The process of evaluating and investing may be daunting for new Fund Managers as they are expected to identify and take a call on companies with great potential which also involves significant risk. However, by employing the appropriate strategies, it can be a very disciplined and effective process. The #VC101 programme looks to help Fund Managers build both financial and operational strength. By sharing the best practices in PE-VC investing by seasoned practitioners and industry experts, the programme will accelerate the development and maturation of the venture capital asset class in India.”
#VC101 will be a month-long, on-ground programme spanning three fortnights in the month of June. The programme is divided into three modules with in-person learning sessions in each of the city – Mumbai, Bengaluru and New Delhi. Specifically, the programme will discuss fundraising, formation and portfolio management fund strategy, raising, and firm building; fund setup and deployment; and portfolio management, governance, exits, returns, n+1 fund strategy and much more. The following industry veterans and experts of IVCA’s Venture Capital Council will mentor the participating fund managers: Rajan Anandan (Managing Director, Surge & Sequoia Capital India LLP), Rahul Khanna (Co-Founder and Managing Partner, Trifecta Capital), Manish Kheterpal (Founder & Managing Partner, WaterBridge Ventures), Ruchi Khajanchi (Chief Financial Officer, A91 Partners), Priyanka Chopra (Chief Operating Officer, Managing Partner, Seed Investing, CIIE.CO, IIM Ahmedabad, & Venture Partner, Bharat Innovation Fund), Anil Joshi (Managing Partner, Unicorn India Ventures), Sameer Brij Verma (Managing Director, Nexus Partners), and Sehraj Singh (Managing Director, India, Prosus Ventures).
