Indian Venture and Alternate Capital Association introduces new VC council for 2024-26 to foster micro VCs

The Indian Venture and Alternate Capital Association (IVCA), the industry body for alternative assets, has introduced a new venture capital (VC) council for 2024-26. 

Rajan Anandan, Managing Director at Peak XV, and Prashanth Prakash, Founding Partner at Accel India, will co-chair the council, while Manish Kheterpal, Co-founder and Partner at WaterBridge Ventures will be the vice-chair. 

The council’s agenda for the period is to empower growth within the VC ecosystem, primarily through supporting micro VCs. It will facilitate fundraising endeavours for VCs and foster connections with seasoned general partners and domestic institutional investors.

“India, the world's third-largest start-up 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," said Anandan.

“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," said Kheterpal.

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Additionally, the council will engage in initiatives on exits and IPOs to optimise opportunities for investors and startups alike. It will also work closely with the Government of India to propose and establish specialised funds aimed to channel resources into sectors with the potential to grow and innovate. 

The former VC council had successfully facilitated meetings between VCs and government bodies such as Small Industries Development Bank of India, Insurance Regulatory and Development Authority, Department for Promotion of Industry and Internal Trade, Ministry of Commerce, and key policymakers to help first-time fund managers and micro VCs. 

Following the work of the previous council, the new VC council for 2024-26 will work closely with Indian VCs and policymakers in solving top regulatory and fundraising issues. 

“The Indian startup ecosystem has been booming over the last few years, fuelled by support from VCs, PEs, and government policies and regulations. The VC landscape has also proliferated, with a new generation of micro VCs emerging to steer the growth of India’s entrepreneurial ecosystem," said Prakash.

"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," he added.