Advocacy Talking Points 21 July 2022
The Rise of Indian Private Equity and Venture Capital
Webinar presented by CFA Institute and CAIA Association.
Webinar PresentationDownload PDF
India is likely to be the fastest growing major economy this year. It has also emerged as one of world’s most entrepreneurial and technology oriented nations in recent years. This is driven by a maturing digital infrastructure, cheap and ubiquitous data access, and electronic know-your-customer based on Aadhar, the world’s largest biometric identity system. All of this has resulted in impressive growth in private equity and venture capital investments. In 2020, India had the third largest number of unicorns (32) after US and China, by mid-2021, it had increased to 55, and Chartered Alternative Investment Analyst Association (CAIA) believes that India could have more than 100 unicorns by 2025.
In this recorded webinar, Shreekant Daga of CAIA briefly made a presentation on the Indian private equity and venture capital industry. He then joined our panel of experts and discussed the investment landscape and opportunities, the regulatory and policy environment, and the risk factors fund managers should consider before investing.
- Genevieve Heng, CFA, portfolio manger, Anthem Asia-Myanmar SME Venture Fund LP
- Arvind Mathur, CFA, chairman, Private Equity Pro Partners
- Sivananth Ramachandran, CFA, director of capital markets policy, India, CFA Institute
Shreekant is a CAIA, CFA and FRM charter holder. Shreekant pursued Bachelor’s in Management from Narsee Monjee College and later did his Master’s in Management from Jamnalal Bajaj Institute of Management Studies (JBIMS). He also holds a Master’s in Commerce from Mumbai University. He is an alumnus of Bombay Stock Exchange Training Institute, having completed the certificate programme on capital markets. He has also acquired several certificates from the National Stock Exchange in Financial Markets.
Prior to joining CAIA Association, Shreekant had gathered experience in Structured Finance. His experience encompasses investment banking in debt capital markets, handling stressed assets, global RMBS deal evaluation, securitization, stress assets rating and mutual fund grading. In mid-2018, he joined the Chartered Alternative Investment Analyst (CAIA) Association as Associate Director at India liaison office wherein he looks after India operations.
Shreekant has been a visiting faculty and is involved in mentoring students at his alma mater. His name features on the list of educational professionals on the Ministry of Human Research and Development website. He has featured in newspapers, magazines, press releases, television and others. True to the cross function that he maintains with education and industry, Shreekant has research papers published at international forums and journals.
Genevieve is an experienced venture capitalist, private equity and impact investor with over 20 years of investing experience in India, China and South East Asia. She co-founded Anthem Asia, an independent women-led investment group focused on investing in small- and medium-sized enterprises in Myanmar and sits on the Investment Committee and serves as board member of portfolio companies. Previously, Genevieve was a senior member of CLSA Capital Partners pan-Asian private equity firm where she was head of India and Southeast Asia for CLSA Capital Partners growth and expansion capital programme.
Genevieve is an advocate of Gender Lens Investing and ESG and serves as the Environmental and Social Partner for Anthem Asia. She is a Chartered Alternative Investment Analyst and Chartered Financial Analyst.
Arvind is a pioneer of private equity and venture capital in the Asia-Pacific region. While at the Asian Development Bank, he helped bring major institutional investors to Asia including CalPERS, CDPQ, AMP and several American and Japanese insurance companies in private equity fund structures.
As the President of IVCA he promoted best practices & reforms in private equity and venture capital. He rubbed shoulders with leaders like KKR, Sequoia,Tata Capital Growth Fund , HDFC Property, TVS Capital, Barings and many other funds, to promote best practices in private equity, buyouts and venture capital and help bring about reforms. As a member of the SEBI, Narayanmurthy-led Committee on Alternative Investment Funds along with KKR,TPG, Carlyle and others he helped produce three reports for submission to the Indian Ministry of Finance.
Arvind mentored a start-up entrepreneur under a Goldman Sachs program.
He has over 25 years' global experience in private equity, venture capital, IPOs, mergers & acquisitions and investments. He led a team of multinational professionals in managing a portfolio of direct investments and over 30 private equity and venture capital funds at the Asian Development Bank. He has exposure to investments in many Asian countries, besides India and China. He engineered several exits.
At Citi he helped structure a US $ 1 billion private equity fund. His experience spans all stages of private equity including due diligence, valuation, fund formation, mobilizing LP commitments, making drawdowns, identifying and negotiating investments, adding value to funds and portfolio companies and exiting by a variety of methods including strategic sales, sales to other LPs , IPOs and other funds.
His investment banking role included M&A & IPOs at Citi & ADB.
An FRM & a CFA Charterholder, he has attended executive education in private equity and hedge funds at the Harvard Business School, training at Cambridge, Mass. & in New York at Goldman Sachs and Citi and at the U.S. SEC in Washington D.C.
Sivananth Ramachandran, CFA, CIPM, is the director of capital markets policy, India, at CFA Institute. In his role, he is responsible for advocating policy positions on issues that affect Indian capital markets, including corporate governance; environmental, social, and governance (ESG); and pensions. He is frequently quoted in media. Ramachandran has more than 14 years of experience in financial services. Before joining CFA Institute, Ramachandran worked at Morningstar and led their global index product development team. He also served as a spokesperson for sustainability at Morningstar India. Before his time at Morningstar, Ramachandran worked at MSCI where he co-authored research papers on small-cap investing, portfolio construction, and economic exposure. Ramachandran holds a masters of business administration from the Indian Institute of Management, Lucknow. He also holds the Chartered Financial Analyst (CFA®), Certificate in Investment Performance Measurement (CIPM), and Professional Risk Management (PRM) designations, and the Fundamentals of Sustainability Accounting (FSA) credential provided by the Sustainability Accounting Standards Board (SASB).