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Now A Venture Fund Exclusively For IIT, IIM Grads

08 April, 2011

Vikram Gupta, former chief operating officer (COO) of India Venture Advisors, a healthcare fund sponsored by the Piramal Group, has launched an innovation and technology venture capital fund that will target to invest in entrepreneurs from India’s leading educational institutions like the IIMs and IITs.

The fund, titled IvyCap Ventures, is targeting to raise $75 million, Gupta said in an interview to VCCircle. The fund’s strategy is to focus on the entrepreneurs with high-quality professional training from premier Indian institutions like the IITs, IIMs and other similar organisations. The fund will follow a sector and stage-agnostic approach, Gupta said.

Gupta, an alumnus of IIT Delhi (1989-93), claims that the fund has received an “excellent interest” from the successful alumni of IITs and IIMs and, therefore, will make its first close soon.

The ‘Ivy’ approach is helping Gupta raise funds from the alumni of the premier institutes like the IITs. For instance, he has created an IIT Alumnus Trust which is an LP in the fund. Ex-IITians invest in the trust which will, in turn, make investments in the fund as LP.

The fund has also distinguished itself by earmarking 5 per cent of the profits (carry) to be distributed among the alma maters of the LPs in the fund. “The cheque will go in the name of the investor to his/her respective alma mater,” Gupta said.

Gupta left India Venture Advisors in February, 2011, after a four-year stint where he had managed investments in the healthcare sector. Prior to that, he was vice-president (strategy and planning) at Piramal Healthcare Ltd. Gupta had also promoted consulting firm ProSource Group and worked with Lupin, Dr Reddy’s and IBM early in his career.

With the new fund, Gupta will join the club of several independent fund managers who are currently on road to raise funds.


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5 Comments
Mangesh Hirve . 5 years ago

Good one. Maybe also, you can get some of the alumni take boards / advisory positions in the investee companies. This way you could also harness the power of network to staffing and building up the value through other stakeholders direct or indirect in the entrepreneurial ecosystem. The value of having sucessful and established entrepreneurs both investing and advising a nascent / growth firm gets the promoter closer to the holy grail of ‘smart’ money – always claimed by VCs but never delivered on.

Nihar Pradhan . 5 years ago

Definitely, the fund starts with a different positioning. Generally the funds comes in to support the entrepreneurs lacking the management competency to scale the organization to the next orbit of growth. In contrast here the entrepeneurs are well trained professional to manage the businesses. It is quite expected to fetch much higher returns and in much shorter time…it would be interesting to wait and watch the fund progress.

Rakesh Chandra Goyal . 5 years ago

visit http://www.pmdimensions.com a successful venture by an IITian where progress being hampered due to lack of fund & being the field of Specialized education Indians Bank are not much excited to come forward to fund this venture.

Would you consider funding such initiatives, but they require large fund

RK . 5 years ago

With all due respect for the venture…. is it not a very biased opinion to say that you will fund only a few from Ivy League institutes? Entrepreneurship is definitely not a phenomenon limited to so called “high-class-erudite”

Ashwinder . 5 years ago

I think the entrepreneurs from the Ivy League already have a good network and VCs/PEs in general also have greater faith in investing in companies run by Ivy Leaguers. Starting a fund for the Ivy league alone would not be anything exceptional according me. Its the hidden gems which need the most help..

Now A Venture Fund Exclusively For IIT, IIM Grads

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