In Nov’17, your fund was recognised as one of ‘Top 10 Performing PE/VC across Vintage & Sectors’ by Preqin Insights on Alternative Assets in India! We are the “Youngest Fund” in India to be featured on this list and amongst the two VC funds to make the top-rank along with well-established PE and Real Estate funds. While we achieved this recognition at an IRR of 17.78%, we look forward to this number moving upwards as the investments mature and get ready for exits.
India’s latest budget proclamations provided further push to “StartUp-StandUp India” and the effort towards digitization:
- Attractiveness of ‘start-up investing’ was further enhanced with the neutralisation of Nil Long-Term Capital Gains Tax on listed securities. We expect that new and existing investors will be encouraged to look at larger fund disbursement towards start-ups.
- In a recent notification, the Finance Ministry relaxed the angel tax retrospectively. This is expected to take the burden off start-ups that raised funds from resident angels prior or alongside a VC Fund
The government has laid focus on development of technologies in digital space, machine learning, artificial intelligence, internet of things, 3D printing etc. and NITI Aayog is expected to initiate a national program in the area of artificial intelligence.
Closer home, the second fund has made firm commitment towards a Robotics start-up based at Mumbai. Two of our start-ups showcased their products at CES, Las Vegas in Jan’18. Both have been well received by global brands and channel partners to distribute products internationally. We are very encouraged by this and will continue to keep nurturing such high potential portfolio companies while enabling the rest.
While the stock markets become increasingly volatile, our portfolio in terms of the mix of companies, sectors and time diversification, has been designed reasonably well to insulate us from such volatilities. We continue to hope your allocation to start-ups and venture capital continues to grow for rewarding returns.
Continuing onwards & upwards!
Sunil K Goyal