Ananta Barua, executive director of SEBI, will speak on ‘Developing local investor capital driven PE industry in India’ at the fifth edition of VCCircle India Limited Partners Summit 2014 on February 19, 2014.
This special session will focus on the need for developing domestic (rupee) capital as a source for Indian private equity (PE) funds, given that more than 95% of the PE capital in India comes from international investors. Local banks - both public and private sector - insurance companies, family offices, and treasury wings of corporates are a big source for making allocations to domestic private equity funds.
The session will be moderated by Gopal Srinivasan, Chairman & MD, TVS Capital Funds Limited, who will map the current state of fund raising environment and how rupee capital will drive this in future.
Joining him is V Srinivasa Rangan, Executive Director, HDFC, one of the largest institutional investors in Indian PE firms. Rangan will share his thoughts on how the treasury arms of companies like HDFC view PE as an asset class.
The other panelists include Anup Bagchi , CEO, ICICI Securities Ltd, and Vishal Tulsyan, CEO, Motilal Oswal Private Equity, one of the largest PE firms with rupee capital.
Besides this session, the two-day conference will focus on: Macro-economic breakdown of the India opportunity; various political combinations in India & its implications; how fundraising dynamics change - from tailwinds in 2007 to headwinds in 2014; how to identify the right model for private equity in India; how are funds managing their portfolio companies.
Additionally the summit has sessions on improving reporting standards & generating returns effectively; what will work & what won't in setting the LP-GP terms for India, developing local investor capital-driven PE industry and possible solutions for Indian corporate governance issues varying investor sentiments.
Other two exclusive sessions covered are:
Day 1, 19th February
Private Equity Exits Showcase
This session will showcase five Indian private equity investments, where the GP will make presentations on how their partnerships with the promoters led to successful returns for both the parties. The session will highlight how the best deals in India were successful and why.
Day 2, 20th February
VCCircle GP Showcase
We will present five shortlisted private equity/venture capital funds which will showcase their funds’ strategies and their track record to an audience comprising leading limited partners, family offices and investors.
VCCircle India Limited Partners Summit 2014 will bring together 250+ attendees representing prominent international LPs in addition to CEOs of leading Indian private equity and venture capital funds, regulators, policy makers, economists & corporate CEOs among others.
Here is the updated agenda
Day I, 19th February
7:30am - 9:20am
Registration
8:00am - 9:20am
Breakfast & Networking
9:20am - 9:30am
Introduction Note
9:30am - 10:20am
Panel I: Macroeconomic Breakdown Of The India Opportunity - Assessing The Good & Bad
Saurabh Mukherjea - CEO of Institutional Equities business, Ambit Capital Pvt. Ltd
Indranil Pan - Chief Economist, Kotak Mahindra Bank
Tushar Poddar - MD & Chief Economist, Goldman Sachs
Roopa Purushothaman - MD and Head of Research, Everstone Capital Advisors (Moderator)
10:20am - 11:10am
Fireside Chat: Analysing The Various Political Combinations In India & Their Implications
Issues peculiar to India such as tarnished government image, grim economic situation and uncertain tax regulations have stalled PE investments in the country. Given the negative outcome of substantial downturn, will the upcoming 2014 elections regain investor sentiments? Despite the political turbulence, will PE recoup positive fund raising surrounding? Will PE see industry witness significant change in 2014 -15? If yes, then where will the difference lie?
Sanjay Jha - Founder - Hamara Congress, Congress Spokesperson
Meera Sanyal - Member, AAP
Kumar Ketkar - Chief Editor, Dainik Divya Marathi
Praveen Chakravarthy - Board Member, Centre for Civil Society (Moderator)
11:10am - 11:40am
Tea & Networking Break
11:40pm - 12:30pm
Panel II: Developing Local Investor Capital-driven PE Industry
Given that more than 95% of the PE capital in India comes from international investors, what is the scope for local investor capital-driven market PE market in India? What are the challenges to running domestic capital led PE funds? How can the industry encourage the ecosystem of local insurance companies, banks, and family offices to make allocations to domestic private equity?
Shri Ananta Barua, Executive Director, SEBI
V Srinivasa Rangan, Executive Director, HDFC
Anup Bagchi, MD & CEO, ICICI Securities Limited
Vishal Tulsyan - CEO, Motilal Oswal Private Equity
Gopal Srinivasan - CMD, TVS Capital Funds Limited (Moderator)
12:30pm - 1:45pm
Lunch & Networking
1:45pm - 2:35pm
In Conversation I: How Fundraising Dynamics Change - From Tailwinds in 2007 To Headwinds In 2014
How is fundraising in 2014 different from fundraising in 2007? Taking into account, PE funds difficulty to make money on their old investments, how will GPs once again convince LPs to join the investment arena in 2014? How will fundraising dynamics change in 2014 in terms of investment model, downsizing risks, valuation, returns, compared with 2007?
Manish Kejriwal - Managing Partner, Kedaara Capital Advisors LLP
Vishal Nevatia - Managing Partner, India Value Fund
Ajay Relan - Managing Partner, CX Partners
Nupur Garg - Senior Investment Officer - Private Equity & Investment Funds, IFC
Pavan Gupte - Independent Advisor (Moderator)
2:35pm - 3:45pm
In Conversation II: Identifying The Right Model For Private Equity In India
Is minority growth still the relevant model for Indian Private Equity?
Addressing challenges & opportunities in transaction activity including:
Growth equity transactions
PIPE
Private debt funds
Venture funds
Mid-market buyouts
Rajeev Aggarwal - MD, Ambit Pragma
Amit Bhatiani - Partner, CX Partners
Shankar Narayanan - MD, The Carlyle Group
Sanjay Kukreja - MD, ChrysCapital Advisors Pvt Ltd
Kanchan Jain - Principal Managing Partner, Religare Credit Advisors LLP
Raghubir Menon - Partner, Amarchand & Mangaldas & Suresh A. Shroff & Co.
3:45pm - 4:30pm
Private Equity Exits Showcase
This session will showcase four Indian private equity investments where GPs will make presentations on how their partnerships with the promoters led to successful returns for both the parties. The session will highlight how the best deals in India were successful and why.
Hetal Gandhi - MD, Tano India Advisors Pvt Ltd
Shankar Narayanan - MD, The Carlyle Group
Sanjay Kukreja - MD, ChrysCapital Advisors Pvt Ltd
Sandeep Singhal - Co-founder & MD, WestBridge Advisors Private Limited
4:30pm - 4:50pm
Tea & Networking
4:50pm - 5:50pm
In Conversation III: Setting The LP-GP Terms For India: What Will Work & What Won't
What is the current state of LP-GP terms and partnerships in India? Are they becoming more favourable for the LPs or the GPs? What are the essential factors such as fees, structure and co-investment rights that are important for a successful fundraise? How are GPs and LPs aligning themselves between performance attribution and management fees? How will providers and the investors of the capital amicably settle on risk-return fundamentals?
Rahul Bhasin - Managing Partner, Baring Private Equity Partners India
Jaganath Swamy - VP, Harbourvest Partners (Asia) Limited
Viswanathan Parameswar - Executive Director, Adveq Management
Ashley Menezes - MD, ChrysCapital Advisors Pvt Ltd
Paddy Sinha - Managing Partner, Tata Capital
Arjun Bawa - VP, PineBridge LP (Moderator)
6:45pm Onwards
VCCircle Awards 2014
The third edition of VCCircle Awards will celebrate the impact of private equity and venture capital on Indian businesses, and pick the most outstanding Indian companies that have not only had a tremendous growth in their respective industries, but also had a longstanding impact on the economy and the industry in general. The awards will also recognise the best intermediaries--law firms and investment banks--that have facilitated such investments. The ceremony would be attended by 300+ leading Indian CEOs, prominent international and domestic private equity fund managers, limited partners, and also the CEOs/Managing Partners of leading investment banks, law firms amongst others. For Registrations, contact Sandeep/ Shikhil at register@vccircle.com or 0120-4171111
8:00pm Onwards
Cocktails, Dinner & Networking
Day II, 20th February
8:30am - 9:45am
Exclusive LP Breakfast
An exclusive session for the leading India focused LPs & GPs to network, debate and discuss the road ahead for investments in India. To participate, contact Sandeep/ Shikhil at register@vccircle.com or 0120-4171111
9:00am - 9:30am
Breakfast & Networking
9:30am - 10:15am
In Conversation I: Too Many Portfolio Companies - Managing Portfolio, Improving Reporting Standards & Generating Returns
Given the huge pile of portfolio companies, how are Indian PE funds preparing their companies for exit? What are the most favourable exit routes today? How are funds managing their portfolio companies actively and effectively, while adding value to these businesses? What are the exits that Indian private equity will see over two years?
Ramesh Venkat - CEO, Reliance Private Equity
Anand Chandani - Regional Director - South & South East Asia, ResponsAbility
Anand Sunderji - Regional Representative, Paul Capital (Moderator)
10:15am - 10:35am
Interview: Building An Alternative Focused Global Asset Management Platform - Key Learnings And Challenges
Shachindra Nath - Group CEO, Religare Enterprises Limited
Shrija Agrawal - Managing Editor, VCCircle (Interviewer)
10:35am - 11:20am
In Conversation II: Corporate Governance De-coded – What Is The Solution For Investors?
How will India's leading fund managers tackle corporate governance challenges, as they partner with greater number of companies? What promoters/assets can be bet on and what not? Will reformed corporate governance structure successfully revive dampened investor sentiment? Are Indian company laws getting closer to global standards for conducting easy and efficient business practices? What are the learnings from investments that have gutted in fire on account of poor corporate governance?
Nikhil Khattau - MD, Mayfield Advisors Pvt. Ltd
Pavninder Singh - MD, Bain Capital
Parth Gandhi – MD, Aion Capital
Sunil Sanghai - MD - Head of Global Banking India, HSBC (Moderator)
11:20am - 11:45am
Tea & Networking
11:45am - 12:30pm
In Conversation III: Real Estate Private Equity (REPE)
Indian realty industry has witnessed capital inflow worth $1.9 billion so far this year. Are investors warming back towards Indian real estate? What is the new story that the Indian fund managers are narrating to their LPs? Which asset class would this money chase? Will vintage PE funds from 2007-2008 look to exit in 2014 or will they postpone exit from market in 2015? How are funds preparing to list their assets in REITs? What is the current domestic fundraising scenario? How to deal with challenges and complexities? Where is the cure?
Rubi Arya - Vice Chairman & Director, Milestone Capital Advisors
V. Hari Krishna - Director, Kotak Realty Fund
Sunil Rohokale - CEO & MD, ASK Group
Anuj Puri - Chairman and Country Head, India, Jones Lang LaSalle India (Moderator)
12:30pm - 1:00pm
VCCircle GP Showcase
We present five shortlisted private equity/venture capital funds which will showcase their funds’ strategies and their track record to an audience comprising leading limited partners, family offices and investors.
If you are currently raising money, and have a good track record, then you could apply to present at the VCCircle GP Showcase. Write to Sandeep at register@vccircle.com.
1:00pm - 2:00pm
Lunch & Networking
2:00pm - 2:45pm
In Conversation IV: Private Equity In India Vs Other Markets
What has attracted foreign capital in India vs the other markets? What makes India a unique market in comparison to the rest? How are PE investments in Indian companies different from firms globally? How are exits in India different from the ones globally? Are LPs cutting down on the India allocations vis-à-vis other markets?
Amit Goyal - Senior Manager Investments, DEG
Anand Narayan - Senior MD, Creador
Christophe Beelaerts - CFO, Sundaram BNP Paribas Fund Services Ltd
2:45pm - 3:30pm
In Conversation V: Mapping India’s Early-Stage & Venture Capital Ecosystem
How large is the Indian early stage and venture capital investing ecosystem? What are the emerging opportunities and what are its key drivers? How are the portfolio companies faring today? What are some of the success stories? How different is early-stage and VC investing from traditional private equity investing in India?
Bharati Jacob - Founder & Partner, Seedfund
Kanwaljit Singh - Sr. MD, Helion Venture Fund
Amit Patni - Chairman, RAAY Global Investments Pvt Ltd
Sanjay Nath - Co-founder & Managing Partner, Blume Ventures
3:30pm - 3:40pm
Concluding Remarks
3:40spm - 4:05pm
Tea & Networking
