The Indian Venture and Alternate Capital Association (IVCA), India's leading industry body for alternative assets, has launched its new Venture Capital (VC) Council for the 2024-26 term. The council will be co-chaired by Rajan Anandan, Managing Director of Peak XV, and Prashanth Prakash, Founding Partner of Accel India, with Manish Kheterpal, Co-Founder and Partner of WaterBridge Ventures, as Vice-Chair.
Rajan Anandan highlighted India's significant growth in the startup ecosystem: "India, the world's third-largest startup ecosystem, has emerged as a top investment destination. IVCA’s VC Council aims to promote this growth by increasing domestic investment, improving governance standards, and attracting new capital for growing areas."
Prashanth Prakash emphasised the council's focus on micro-VCs: "By empowering first-time fund managers with knowledge of key strategies in fundraising, capital deployment, portfolio supervision, governance, and reporting, we can take India’s startups to new heights.”
The VC Council’s agenda for 2024-26 includes supporting micro-VCs, ESG and corporate governance for startups, training initiatives, and engaging in initiatives on exits and IPOs. The council will also collaborate with the Government of India to propose specialized funds like the DeepTech Fund of Funds and other state funds, aiming to channel resources into promising sectors.
Manish Kheterpal remarked on India's investment landscape: “Despite global challenges for the equity asset class, India offers a breeding ground for innovation, entrepreneurship, and unique investment opportunities. At this interesting crossroad, IVCA’s VC Council aims to advance the VC ecosystem, effectively catalysing job creation, mainstreaming entrepreneurship, and contributing to India’s adoption of DeepTech alongside inclusive growth.”
The new VC Council includes notable members such as Padmaja Ruparel, Co-founder of IAN; Lavanya Ashok, Partner at Trifecta Capital; Anil Joshi, Founder and Managing Partner of Unicorn India Ventures; and others. The council plans to convene at least six times a year to develop strategies and assess implementation timelines.
