Gopal Srinivasan, Chairman and MD, TVS Capital Funds and Former Chairman, IVCA expresses, "This is indeed the Dream Budget for startup growth capital. It is Deepavali for the Indian Startup system and the Domestic VC/PE Capital community"
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Experts believe that these changes will encourage more startups to remain local rather than seeking registration outside India in places like the US or Singapore to raise capital. These budget provisions are set to generate a significant positive impact by fostering more domestic capital.
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The much-anticipated removal of the angel tax is hailed as a pivotal development, aimed at eliminating barriers for early-stage companies and attracting a surge of domestic and foreign investment
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By eliminating the tax, the government acknowledges the significant contributions of the alternative assets and private capital industry, which play a pivotal role in fostering enterprise creation and innovation
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Prior to the budget, the Department for Promotion of Industry and Internal Trade (DPIIT) had recommended the removal of the angel tax, following consultations with the startup community
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As part of the inception of the Circular Economy thesis, IA has already invested in sustainability startups including eMines, Bonphul, Trashnet and Recycle Green
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In 2021, VMC acquired a majority stake in Paperboat Design Studios, an animation and design company, further expanding its portfolio
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The sector-agnostic fund plans to make 10-12 investments as it allows them to work closely, and mentor entrepreneurs. The General Partners plan to leverage their global investing experience across China, SEA and Europe
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