Naveli Jain

IVY Growth Associates , a prominent micro venture capital firm, has announced the launch of Arigato Capital, a SEBI-registered Category I AIF VC fund, with a target corpus of Rs 250 crore. This sector-agnostic fund is set to invest in startups across a variety of emerging sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies. Arigato Capital aims to begin raising capital in June 2024, with plans to close all commitments over the next 15 to 18 months. The fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-Series A stages, offering an average ticket size of $500,000. The VC fund was founded by Prateek Tosniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, with IVY Growth Associates serving as a limited partner. Through Arigato Capital, IVY Growth intends to establish and expand a global corridor to connect angel investors and startups, with a special focus on the Middle East, the US, and Europe. In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21BY72, from June 15 to June 16 in Surat. The summit is expected to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors. IVY Growth Associates has a strong track record, having invested in over 100 growth-stage startups. The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVY’s portfolio includes notable brands such as Rupeek, BluSmart, and ZappFresh. The demand momentum in the real estate market, especially the residential segment, has spurred the growth of real estate startups, called PropTech, some of which have attained unicorn status while there are several others on the way. We at SHK Global Ventures are on a mission to connect proptech innovators with investors and to fulfill this we have collaborated with IVY Growth Associates as their PropTech Knowledge Partner for the 3rd Season of TwentyOne by Seventy Two - Bharat's Leading Startup Summit , scheduled to be held in Surat on the 15th & 16th of June '24. 🔶We invite real estate developers, incubators & accelerators, asset management companies, alternative investment funds, banks, co-living & co-working operators and other stakeholders of the evolving PropTech ecosystem for brand association and integration. 🔶Come, partner with us and benefit by increasing your visibility, meeting, interacting, and engaging with your target buyers and investors at this high-profile event. 🔶For brand association & collaboration, reach out to Vartika Agarwal at vartika.a@shkglobalventures.com or Surbhi Khare at surbhi.k@shkglobalventures.com Source of the article : https://lnkd.in/dwSHJhT4

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Was nice to share some thoughts with Akshata G. and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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Pleased to share the latest interview of our Founder & CIO Samit Vartak, CFA on NDTV Profit. Samit has shared his perspective and take on #Indian markets, supported by his emperical analysis on sectoral #valuations and #fundamentals. https://lnkd.in/denceQep

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The lower-middle market of private equity is our favorite segment of private markets and in tracking Lighthouse Funds India, this fund manager is demonstrating investments and exits akin to established middle market fund managers in the US. Congratulations on the successful full exit of Poly Medicure Ltd, India’s leading #medical device #manufacturer, in an open market transaction on India's National Stock Exchange of India Limited (NSE India)! Similarly to our favorite and most successful middle market fund managers in the US (particularly in #chicago), Lighthouse Funds India has taken a measured and disciplined approach to building out a team, retention and incentivization (sharing the carried interest), and fund sizing that applies a proven recipe in the US to the India market, with now 4 funds raised by the firm since 2007 inception, including most recently Fund IV in 2024, multiple full and partial exits in their Fund III, and the demonstrated ability to tap into liquidity for LPs via #ipos, M&A and secondary share sales. Overall, investment exits and value creation in the India private equity continue to materialize for those fund managers who have been able to endure the capital markets, political, and market nascency cycles over the past 2 decades, and now it is clear India has an established set of private markets players in position to create attractive net returns for global limited partners going forward - with demonstrated multiple exit paths. And it seems Lighthouse Funds India also just had a partial exit of another investment in their vintage 2018 Fund III. More to come on that later. Exits at attractive values to LPs via multiple avenues are one of the primary characteristics of distinction for best-in-class private markets fund managers and Lighthouse Funds India are demonstrating their winning traits! Definitely worth tracking this manager! #middlemarket #privatemarkets #indianeconomy #exits #valuecreation #secondaries #publiccompanies #publicmarkets #tradesales #acquisitions #liquidity #capitalmarkets #consumer #healthcare #retention #employeeequity #economics #sharing #noegos https://lnkd.in/gg42PnBJ

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Why is there such a substantial interest in REITs & Invits, new age investment products brought in by SEBI ? One can get a sense from GSec, which fell below the 7% mark. REITs and Invits offer stable dividend income coupled with potential of capital appreciation. Low volatility and payouts ranging from ~6-11%, make them attractive for yield hungry institutional investors, as they seek alpha above the risk free rate (GSec). In the case of REITs, it is a compelling play on the potential reversal in interest cycle leading to valuation jump, hedge against inflation inherent in real estate and bet on India growth. https://lnkd.in/ddjzWknQ

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We are delighted to announce the close of Kedaara IV at USD 1.738bn, our fourth fund. We had a one and only close, and we completed the entire fund-raise in 4 months. This is an important milestone in Kedaara Capital's 12 year journey and comes at a time when the PE industry is fending off fierce headwinds and a challenging fund-raising environment. This is all thanks to our incredible family at Kedaara, where we have brought together a team with extremely sharp minds, diverse areas of expertise and a real passion to create a unique firm. It is made possible by the terrific entrepreneurs and owners of quality companies who give us the opportuity to partner with them. On top of that, we have an absolute solid set of thoughful Limited Partners/Investors who have backed us from our start in 2011, and continue to do so today, despite various challenges in the macro and the micro which crop up occasionally. And of course, a final thanks to our friends at Clayton Dubilier & Rice, who we partnered with early on in our journey... For us, with all humility, this is just the beginning... At the end its never about size, its about performance. Its about giving back many times more than what we take - to our investors, to our portfolio companies, and to our team - As India sets itself for even bigger strides in the coming decade, we hope that we, as Kedaara Capital, can play our small role in accerating that, even as we provide disproportionately high (relative to the risk taken) returns to our Limited Partners... As always, we welcome your thoughts.... https://lnkd.in/dWYePTKg

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Sorin Investments, a venture capital firm launched by Sanjay Nayar, the former head of @KKR India, has successfully secured Rs 1,350 crore for its inaugural fund. 💰 #SorinInvestments #VentureCapital #Funding #Investment #Business #Investment #Growth #Entrepreneurship #India #BelieveIndia To read more in detail, click below:👇 https://lnkd.in/gZhyvGKx

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Impact Investors Council (IIC), recently released its report on 'India Impact Investment Trends 2023' at our India Room event in Singapore. In this short video, Divya Pinge, Head of Research and Varun Reddy, Asst Manager - Research & Programs, at Impact Investors Council (IIC), take you through a synopsis of the report. For your soft copy of the report, please write to us at : secretariat@iiic.in

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#India 🇮🇳 is playing an increasingly significant role in #AsiaPacific #PE-#VC activity, accounting for ~20% of all PE-VC #investments in 2023, up from ~15% in 2018. #Resilience amid #turmoil: Multiple bright spots emerged in India amidst a globally challenging year for the PE-VC ecosystem. India #PrivateEquity Report 2024 | Bain & Company

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After extensive research, our team at INVasset PMS has collectively produced an exclusive fundamental report on how CAPEX is a pivotal element of the India growth story. Capital expenditure (CapEx) is essential for long-term asset creation, upgrades, and economic growth. The interim budget boosted CapEx to ₹11.71 trillion for FY24, reflecting India’s focus on infrastructure and asset creation. Over the years, CapEx has shown an upward trend, peaking at 4.6% of GDP in the 2024-25 budget estimate. This growth signifies India’s commitment to sustainable development and economic efficiency. The trend analysis from 2016-17 to 2024-25 reveals significant investments in capital assets, with effective CapEx projected to reach ₹15.0 lakh crore in 2024-25. Investing in CapEx is crucial for enhancing economic performance and competitive edge. Visit now for more such insightful reports. https://lnkd.in/davhaab5

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Mohit Gulati launched ITI GO Fund I worth INR 62 Cr in 2018 in partnership with the Investment Trust of India (ITI). The financial services conglomerate is led by Sudhir V 👇 The fund has performed well in the past five years, investing in 22 startups and returning half the capital to investors. Gulati is working on his next endeavour, ITI Growth Opportunities Fund II, which has a corpus of INR 200 Cr and a greenshoe option of INR 100 Cr. ITI GO Fund I has an IRR of 33% and a DPI ratio of 0.45, while four portfolio companies have seen more than 3x valuation markups. The Fund II has a corpus of INR 200 Cr and a greenshoe option of INR 100 Cr, of which INR 80 Cr has already been raised. While the fund’s core focus areas were consumer internet, healthtech, edtech and the new-age economy, it also invested in aerospace, agritech, fintech, electric vehicles and enterprisetech. Gulati believes a non-distributed fund even if it is a small one, ensures a higher margin and enables quicker capital returns due to better performance. 📎 To read detailed article, click here 👇 #funds #investment

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“Globally, venture capital funds make up one-third of the private impact fund universe; but in India, they account for 85 per cent” Good insights by FT on how Indian venture capitalists are leading the way in private market impact investing (Glad to see our fund parrners mentioned in the report). Few other funds that are not mentioned are also driving real change by investing in entrepreneurs who are truly driving ‘Innovation for Impact’. India’s venture capitalists seek to verify the impact they make https://lnkd.in/dDVgKFgA British International Investment, Mark Kahn

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India is a private markets topic on the minds of allocators across categories around the globe, and the continued sophistication and maturity of the market is truly remarkable. ChrysCapital have one of the longest tenured and outstanding investment track records in the India market, and leading this $700-million continuation fund anchored by world-class global private markets allocators HarbourVest Partners, LGT Capital Partners and Pantheon for a stake in India's National Stock Exchange of India Limited (NSE India) is a testament of India's suitability and attractiveness for institutional investors. This marks the largest of its kind transaction in India, being well oversubscribed and ranks among the largest across the Asia Pacific. UBS' Private Funds Group served as exclusive advisor to ChrysCapital. This is also particularly notable as they are the market leader in Asia continuation funds, in my opinion. The stake originally belonged to ChrysCapital Fund VI which invested in NSE India in 2016 and will continue as a significant, long-term shareholder in the company through the Continuation Fund. Creation of DPI to limited partners - The transaction provided Fund VI investors an opportunity to monetise the performance on a highly successful investment, while allowing continuation fund investors the opportunity to invest in the world’s largest derivatives exchange. As part of the transaction, Fund VI investors were also provided an option to roll their value into the Continuation Fund. Look for more continuation vehicles and increasing global institutional investor activity in India's private and public markets! Congratulations to all! #fundmanagers #india #indianmarket #asiapacific #secondaries #institutionalinvestors #capitalmarkets #distributions #liquidity #limitedpartners #fundraising #alternativeinvestments #privatemarkets https://lnkd.in/gqGFRF3v

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What better way to demonstrate product-market fit than to learn about customer journeys before and after your platform? At Grip Invest, mass-affluent retail investors are migrating part of their portfolios from FDs to uniquely curated SDIs / Bonds manufactured by the platform. This ties into our thesis that the TAM for such a play is not the typically perceived 'alternatives' TAM but a cut of the humongous $2.5T FD market, which has never really been disrupted. A large set of retail customers understand now that there is a gap between FD returns and equity markets, and a risk-adjusted portfolio can be built here. Thanks Forbes India for this insightful piece. Congrats Nikhil Aashish Vivek for the tremendous execution.

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Congratulations to Sandeep Jethwani, Vaibhav Porwal and Sahil Contractor on their latest fund-raise! Privileged to be part of their journey from inception to ~7,000 Cr.+ in AuM with strong client NPS in a short span of time... The team started off with deep-conviction on serving the (under-served) emerging HNI segment. Each part of the business model was thoughtfully re-architected to achieve this. Adopting a "phy-gital" approach, devising a unique-GTM through Wealth Monitor, careful selection of alpha-generating yet tax efficient instruments etc. were some of the choices made by the team @ Dezerv. Topping it up with an A-team and world-class execution! The result: Industry-leading RM productivity and client asset retention, strong yields on AuM, sustainable risk-adjusted returns and superlative investor-experience. Wishing the team godspeed on their journey ahead! 🚀 At Matrix Partners India (aka Z47), we have deep conviction that wealth-tech in India is at an inflection point. As the country scales to $10T in GDP, multiple segments of our society will experience a "once-in-a-lifetime" wealth creation opportunity. We strongly believe mass affluents and HNIs will stand to benefit disproportionately - and this is just the beginning... If you are ideating or building in wealth/personal finance, hit us up for a conversation! CC: Avnish Bajaj Vikram Vaidyanathan Anand Khetan Taha Tinwala Nipun Singhal #FoundersFirst #Z47Fintech #WealthManagement

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Bharat Fintech Summit 2024 hosted a panel discussion titled "VC Funding Across the Globe: A Heat Map of Investment Trends Across Segments and Regions." This discussion welcomed esteemed panelists including Varun M., Partner, Quona Capital, Anup Kumar Agarwal- South Asia Fintech Lead, IFC - International Finance Corporation, Vikram Gupta- Founder & Managing Partner, IvyCap Ventures Advisors Private Limited, Rahul Khanna- Co-Founder & Managing Partner, Trifecta Capital. The session was moderated by Vikram Chachra, Founding Partner at 8i Ventures, focusing on global investment trends, particularly emphasizing the domestic market. Key Observations: - The discussion highlighted the impact of the global investment environment on fintech, noting a significant reduction in funding but a continued interest in strategic investments. - Panelists shared insights into their investment strategies, particularly in fintech, emphasizing the importance of sustainable business models and financial inclusion. - Regulatory compliance and navigating the complexities of fintech investments were identified as crucial factors for VC funding, with a focus on how startups can adapt and align with regulatory expectations. - The role of technology and innovation in driving financial services and inclusion was discussed, with examples of recent investments that demonstrate the sector's resilience and potential for growth. - The conversation also touched upon the challenges and opportunities presented by the current market conditions, including the importance of strategic partnerships and understanding market needs for successful fintech ventures. This panel discussion provided a comprehensive overview of venture capital funding trends in fintech, both globally and in India. It shed light on the critical aspects of fintech investment, such as regulatory compliance, technological innovation, and the importance of building sustainable and inclusive financial solutions. Despite the challenges posed by the current economic climate, the panelists shared a positive outlook on the potential for fintech investments to drive significant impact, highlighting their strategies for identifying and supporting promising startups. For those interested in the evolving landscape of VC funding in fintech and the strategic considerations that guide investment decisions, this session offered valuable insights and perspectives.   "For a deeper dive into the evolution of venture capital funding in fintech and strategic insights from leading investors, watch the full discussion here: https://lnkd.in/dqAXqNi6 Sameer Singh Jaini | Shashank Shekhar | Sreekant Rudrabhatla | Vikrant Kulkarni | Parth Prajapati | Deepak Sai   #VCfunding #Fintech #InvestmentTrends #RegulatoryCompliance #FinancialInclusion #TechnologyInnovation #StrategicInvestments #GlobalMarket #BharatFintechSummit #VentureCapital

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THE EQUITY-FREE FUNDING !!! Debt financing is increasingly important for startups, offering a way to grow without diluting ownership. It's particularly useful for startups that qualify, providing a cheaper growth path. However, it's not suitable for all, as qualification in the eyes of lenders can be challenging. #debt #debtfinancing

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After the 2019 elections, average residential prices across the top seven cities have appreciated at a compound annual growth rate (CAGR) of 6% - rising from Rs 5,600 per sq ft in June 2019 to Rs 7,550 per sq ft by the end of FY24. A similar trend was witnessed in relation to the 2014 elections. Average prices across the top seven cities saw an annual rise of over 6% in 2014 when compared to the preceding year - from Rs 4,895 per sq ft in 2013 to Rs 5,168/sq.ft in 2014. #IndianRealEstate #ResidentialRealEstate #RealEstateInvesting ANAROCK Anuj Puri https://lnkd.in/dmr-64at

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The Brewing Casino in the Indian Stock Market The Indian public equity market has demonstrated remarkable resilience, buoyed by a surge in retail investor participation. This influx of individual investors has not only bolstered market stability but also presented traditional banking institutions with unprecedented competition enticing potential savings away from conventional bank deposits. Yet, beneath this veneer of robustness, there lurks a speculative frenzy akin to a casino, driven by several factors: - Exuberant Retail Participation: The market has witnessed a tidal wave of new retail investors. - Unsecured Lending Practices: Brokers, in their quest for growth, have adopted aggressive lending practices, further fueling the speculative fire. - Technological Advancements: The advent of digital platforms has 'gamified' market access, making trading seem an almost "get rich quick dream" for the masses. - Regulation: The introduction of shorter duration in options has had a FMCG style 'sachet' strategy effectively reducing the capital needed to take on similar risks to boost the volumes. Weekly options are cheaper compared to monthly contracts, and buyers gain exposure to the full notional value. - Influencers: Influencers and market promoters have been zealously advocating for market participation, painting it as a rapid path to wealth accumulation. The options trading market in India has experienced an explosive growth of amateur, or 'retail', traders. Equity derivatives dominate the market, accounting for a staggering 99% of volumes. The leverage on index options can reach dizzying heights of up to 500 times on expiry day, magnifying both potential profits and losses. For instance, a modest INR 2,000 option can command exposure to securities worth INR 10 lakh, epitomizing the speculative nature of these transactions. Notwithstanding the fact that retail options traders make losses in more than 80% of their bets, derivative volumes have reached 400x that of cash equity and 900x of delivery-based trading volumes, the highest ratio in the world. In 2023 alone, Indian investors traded 85 billion options contracts, more than any other nation. In most markets, derivatives volumes now account for 5-15x their cash market volumes. In India, however, derivative volumes are more than 400x higher than that of the underlying cash market today, having grown from 3x in 2010. Despite the evident risks, the practice of daily and weekly expiry options trading persists. While such instruments provide essential liquidity and serve as legitimate hedging tools for institutional investors, the overwhelming popularity of index options – which represent 99% of derivative volumes, with weekly options comprising 95% of trades – raises concerns. As the Indian financial landscape continues to evolve, it is imperative to strike a balance between fostering market growth and safeguarding investor interests.

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