Year 2012 has been much more challenging for PEs than the previous year as exits improved but deals slipped. India's economy grew at its slowest pace in nine years, the rupee became the worst performing currency in Asia this year, inflation remains high and industrial production has stalled. The economic problems were compounded by regulatory uncertainties related to measures like GAAR (General Anti Avoidance Rules).
This has downgraded India as an asset class among LPs and has reflected on fundraising. With the latest market feedback, it appears Indian PE funds have completed the phase of correction of LPs’ return expectations. PE funds are also reassessing their investment strategies, increasingly shifting PE dollars from infrastructure to consumption-driven plays. PE investors have also started to look beyond capital markets for exits as they increasingly explore secondary transactions and M&A deals. India-focused venture capital funds have added a record over $1 billion as ‘dry powder’ over the past 12-14 months.
The good news is that emerging markets like India will continue to be among the front-runner destinations in terms of the allocation priority of global LPs. And LPs are now becoming highly discriminating and are investing in funds which can provide them with a differentiated exposure or those which are not a me-too game and ensure better returns.
In this context, the 4th edition of VCCircle India Limited Partners Summit will be held on February 20-21 at JW Marriot, Mumbai. The summit will assess India's private equity and venture capital theses, the opportunities, the investment enablers and the ecosystem challenges, all these addressing the LP and GP concerns linked to investing in India.
The summit will be a platform for networking with world's leading LPs focusing on India, private equity and venture capital fund managers and professionals. It will delve on pertinent issues of the industry including strength and weaknesses of key macro factors governing India's economic growth, differentiated fund investment strategies, the regulatory challenges faced by the Indian PEs and the challenges and opportunities for investors in Indian market vis-à-vis global counterparts.
The summit is also expected to provide insights on the most attractive and sought after sectors in Indian economy in addition to the evolving exit strategies.
Some of the participating speakers are:
Bruno Raschle - MD, Adveq Management
Gulpreet Kohli - MD, ChrysCapital Advisors Pvt Ltd
Jason Sambanju - MD, Paul Capital
Kiran Rao - Principal, Grove Street Advisors LLC
Markus Ableitinger - MD, Capital Dynamics
Maninder Saluja - Co-Head, Private Equity, Quilvest
Manish Kejriwal - Managing Partner, Kedaara Capital
Mukund Rajan - MD, Tata Capital Private Equity
Nainesh Jaisingh - MD & Global Co-Head, Standard Chartered Private Equity
Nishesh Dalal - Private Equity Transaction Partner, KPMG India
Nirav Kachalia - MD, Morgan Creek Capital
Pratima Divgi - Investment Director, Squadron Capital
Praneet Garg - Principal, Asia Alternatives Advisor
Rahul Bhasin - Managing Partner, Baring Private Equity Partners
Rajesh Singhal - Partner, Tata Capital Private Equity
Sandeep Naik - Managing Director, General Atlantic Partners
Sebastiaan van den Berg - MD, HarbourVest Partners (Asia) Limited
Varun Sood - Managing Partner & Co-founder, Capvent AG
Vikram Bhaskar - Managing Director, Credit Suisse
Vincent Huang - Partner, Pantheon Capital
Join us for the summit to meet and debate with top LPs & GPs and discover India's best PE and VC-funded portfolio companies.
(Edited by Prem Udayabhanu)