Introduction

VCCircle India Limited Partners Summit 2014

Indian private equity Industry is going through its share of growth and maturity pains today. This, coupled with unfavorable environment in the local ecosystem has slowed the pace of the Indian PE industry. While some LPs wait and watch, others are carefully deploying capital with cherrypicked fund managers based on their track record.

Today Indian PE's huge portfolio of companies, unexpectedly poor exit avenues, less support from promoters and continued pressure to return capital to LPs, have shifted the Indian PE industry’s lens to focus on achieving immediate high quality private equity exits.

The Indian PE industry is yet to witness the best as more maturity kicks in with experienced practioners getting better, increased sector/segment specialization, availability of world class senior management for portfolio companies, transactions being underwritten at conservative assumptions and valuations, high quality due dilligence, structured transactions to reduce risks among other recent well-meaning developments.

As the LPs now see it, the Indian asset class will continue to supersede other new markets which seem attractive today because of country's long term opportunity.

To map the current pain points, challenges and opportunities in the Indian private equity industry today, VCCircle presents the 5th edition of its immensely successful flagship property VCCircle India Limited Partners Summit 2014 on 19-20 February 2014, Mumbai, in a new avatar that will identify the right path for a successful private equity business in India.

The 2-day conference will cover areas such as: How do regulators view the Indian Private Equity industry? Cure for pain points in Indian private equity asset class; What’s the solution for Indian corporate governance issues for investors?; Managing portfolio companies & generating fund returns; Where are the high growth companies in a moderate growth environment?; What will the new LP-GP terms be for India; Assessing PE in India vs other markets; Developing local investor capital-driven PE industry; Mapping India’s Early-Stage & Venture Capital Ecosystem; Overview of the evolving global private equity business among other key debatable topics.

Over the past few years, the summit has been well received by over 150+ speakers and 1000+ participants including top global limited partners, India's leading general partners, placement agents, regulators, policy makers, economists among others. Click here for last year's agenda.

Block your calendar to join us for India's premier private equity conference that will identify the righ path to create successful private equity businesses in India.


For sponsorship write to: vijay@vccircle.com; For registrations write to: Sandeep/ Shikhil at register@vccircle.com; 0120-4171111

For any agenda suggestion / speaker nomination, write to komal.shah@vccircle.com


Agenda

 

Day I, 19th February

 

 

7:30am - 9:20am
Registration

 

8:00am - 9:20am
Breakfast & Networking
 
9:20am - 9:30am
Introduction Note
 
9:30am - 10:20am
Panel I: Macro-Economic Breakdown Of The India Opportunity - Assessing The Good & Bad

Saurabh Mukherjea - CEO of Institutional Equities business, Ambit Capital Pvt. Ltd
Indranil Pan - Chief Economist, Kotak Mahindra Bank
Tushar Poddar - MD & Chief Economist, Goldman Sachs
Roopa Purushothaman - MD and Head of Research, Everstone Capital Advisors (Moderator)
 
10:20am - 11:10am
Fireside Chat: Analysing The Various Political Combinations In India & Its Implications
Issues peculiar to India such as tarnished government image, grim economic situation, uncertain tax regulations has stalled PE investments in the country. Given the negative outcome of substantial downturn, will the upcoming 2014 elections regain investor sentiments? Despite the political turbulence, will PE recoup positive fund raising surrounding? Will PE see industry witness significant change in 2014 -15? If yes, then where will the difference lie?
 
Sanjay Jha - Founder - Hamara Congress, Congress Spokesperson
Meera Sanyal - Member, AAP
Kumar Ketkar - Chief Editor, Dainik Divya Marathi
Jayant Sinha - Former India head of Omidyar Network, and member, BJP
Praveen Chakravarthy - Board Member, Centre for Civil Society (Moderator)
 
11:10am - 11:40am
Tea & Networking Break
 
11:40pm - 12:30pm
Panel II: Developing Local Investor Capital-driven PE Industry
Given that more than 95% of the PE capital in India comes from international investors, what is the scope for local investor capital driven market PE market in India? What are the challenges to running domestic capital led PE funds? How can the industry encourage the ecosystem of local insurance companies, banks, and family offices to make allocations to domestic private equity?


Shri Ananta Barua - Executive Director, SEBI
Anup Bagchi - Executive Director, ICICI Securities Limited
Vishal Tulsyan - CEO, Motilal Oswal Private Equity
Mr. Satrajit Bhattacharya - Joint General Manager - Treasury, HDFC
Gopal Srinivasan - CMD, TVS Capital Funds Limited (Moderator)
 
12:30pm - 1:30pm
Lunch & Networking
 
1:30pm - 2:20pm
In Conversation I: How fundraising dynamics change - from tailwinds in '07 to headwinds in '014
How is fundraising in ’14 different from fundraising in ’07? Taking into account, PE funds difficulty to make money on their old investments, how will GP’s once again convince LP’s to join the 014’ investment arena? How will 014’ fundraising dynamics change in terms of investment model , downsizing risks, valuation, returns, when compared with ’07?
 
Manish Kejriwal - Managing Partner, Kedaara Capital Advisors LLP
Vishal Nevatia - Managing Partner, India Value Fund
Amit Bhatiani - Partner, CX Partners
Nupur Garg - Senior Investment Officer - Private Equity & Investment Funds, IFC
Pavan A. Gupte - Independent Advisor, Former Head of Asia, Hermes GPE and Chief Strategy Officer, CVCI Private Equity (Moderator)
 
2:20pm - 3:30pm
In Conversation II: Identifying The Right Model For Private Equity In India
Is minority growth still the relevant model for Indian Private Equity?
Addressing challenges & opportunities in transaction activity including:
Growth equity transactions
PIPE
Private debt funds
Venture funds
Mid-market buyouts
 
Rajeev Aggarwal - MD, Ambit Pragma
Amit Bhatiani - Partner, CX Partners
Shankar Narayanan - MD, The Carlyle Group
Sanjay Kukreja - MD, ChrysCapital Advisors Pvt Ltd
Kanchan Jain - Principal Managing Partner, Religare Credit Advisors LLP
Raghubir Menon - Partner, Amarchand & Mangaldas & Suresh A. Shroff & Co.
Jaganath Swamy - VP, Harbourvest Partners (Asia) Limited (Modeartor)
 
3:30pm - 4:20pm
Private Equity Exits Showcase
This session will showcase 4 Indian private equity investments, where the GP will present on how their partnerships with the promoters led to successful returns for both the parties. The session will highlight how the best deals in India were successful and why.
 
Hetal Gandhi - MD, Tano India Advisors Pvt Ltd on “Virgo Engineers Limited” 
Shankar Narayanan - MD, The Carlyle Group on  “Tirumala Milk Products and Repco Home Finance”
Sanjay Kukreja - MD, ChrysCapital Advisors Pvt Ltd on “HCL Technologies Ltd”
Sandeep Singhal - Co-founder & MD, WestBridge Advisors Private Limited on “Dr Lal Pathlabs Pvt Ltd and Just Dial Ltd”
Bharati Jacob – Founder & Partner, Seedfund on “Red Bus”

 
4:20pm - 5:20pm
In Conversation III: Setting The LP-GP Terms For India: What Will Work & What Won't
What is the current state of LP-GP terms and partnerships in India? Are they becoming more favourable for the LPs or the GPs? What are the essential factors such as fees, structure and co- investment rights that are important for a successful fundraise? How are GPs and LPs aligning themselves between performance attribution and management fees? How will the providers and the investors of the capital amicably settle on risk-return fundamentals?
 
Rahul Bhasin - Managing Partner, Baring Private Equity Partners India
Jaganath Swamy - VP, Harbourvest Partners (Asia) Limited
Viswanathan Parameswar - Executive Director, Adveq Management  
Ashley Menezes - MD, ChrysCapital Advisors Pvt Ltd
Paddy Sinha - Managing Partner, Tata Capital
Arjun Bawa - VP, PineBridge LP (Moderator)
 
6:45pm Onwards
VCCircle Awards 2014 & Dinner
The 3rd edition of VCCircle Awards will celebrate the impact of private equity and venture capital on Indian businesses, and pick the most outstanding Indian companies that have not only had a tremendous growth in their respective industries, but also had a longstanding impact on the economy and the industry in general. The awards will also recognise the best intermediaries--law firms and investment banks--that have facilitated such investments. The ceremony would be attended by 300+ leading Indian CEOs, prominent international and domestic private equity fund managers, limited partners, and also the CEOs/Managing Partners of leading investment banks, law firms amongst others. For Registrations, contact Sandeep/ Shikhil at register@vccircle.com or 0120-4171111
 
 

 

Day II, 20th February

 

 

8:30am - 9:45am
Exclusive LP Breakfast
An exclusive session for the leading India focused LPs & GPs to network, debate and discuss the road ahead for investments in India. To participate, contact Sandeep/ Shikhil at register@vccircle.com or 0120-4171111
 
9:00am - 9:30am
Breakfast & Networking
 
9:30am - 10:15am
In Conversation I: Too Many Portfolio Companies - Managing Portfolio, Improving Reporting Standards & Generating Returns
Given the huge pile of portfolio companies, how are Indian PE funds preparing their companies for exit? What are the most favourable exit routes today? How are funds managing their portfolio companies actively and effectively, while adding value to these businesses? What are the exits Indian private equity will see over the next 2 years?
 
Ramesh Venkat - CEO, Reliance Private Equity
Vamesh Chovatia - MD, NEA
Anand Chandani - Regional Director - Asia Pacific, ResponsAbility
Anand Sunderji - Regional Representative, Paul Capital (Moderator)
 
10:15am - 10:35am
Interview: Building an Alternative focused global asset management platform - key learnings and challenges
Shachindra Nath - Group CEO, Religare Enterprises Limited
Shrija Agrawal - Managing Editor, VCCircle (Interviewer)
 
10:35am - 11:20am
In Conversation II: Corporate Governance De-coded - What Is The Solution For Investors?
How will India's leading fund managers tackle corporate governance challenges, as they partner with greater number of companies? What promoters / assets can be bet on and what not? Will reformed corporate governance structure successfully revive dampened investor sentiment? Are Indian company laws getting closer to global standards for conducting easy and efficient business practices? What are the learnings from investments that have gutted in fire on account of poor corporate governance?
 
Nikhil Khattau - MD, Mayfield Advisors Pvt. Ltd
Rajesh Ramaiah - Director & CFO, Premji Invest
Pavninder Singh - MD, Bain Capital
Pramod Ahuja - Partner, Tata Capital - PE
Parth Gandhi – MD, AION Capital
Sunil Sanghai - MD - Head of Global Banking India, HSBC (Moderator)
 
11:20am - 11:45am
Tea & Networking
 
11:45am - 12:30pm
In Conversation III: Real Estate Private Equity (REPE)
2013 to date has witnessed capital inflow in Indian realty industry to the tune of $ 1.9 billion, are investors warming back towards Indian real estate? What is the new story that the Indian fund managers are narrating to their LP's? Which asset class would this money chase? Will Vintage PE funds from 2007-2008 look to exit in 2014 or will they postpone exit from market in 2015? Commercial IT Park – The flavor of the season, how are funds preparing to list their assets in REIT? What is the current domestic fund raising scenario? How to deal with challenges and complexities? Where is the cure?
 
Rubi Arya - Vice Chairman & Director, Milestone Capital Advisors
V. Hari Krishna - Director, Kotak Realty Fund
Sunil Rohokale - CEO & MD, ASK Group
Anuj Puri - Chairman and Country Head, India, Jones Lang LaSalle India (Moderator)
 
12:30pm - 1:00pm
VCCircle GP Showcase
We present five shortlisted private equity/venture capital funds who will showcase their fund's strategy and their track record to an audience comprising of leading limited partners, family offices and investors.
If you are currently raising money, and have a good track record, then you could apply to present at the VCCircle GP Showcase. Write to Sandeep at register@vccircle.com.
 
1:00pm - 2:00pm
Lunch & Networking
 
2:00pm - 2:45pm
In Conversation IV: Private Equity In India Vs Other Markets
What has attracted foreign capital in India v/s the other markets? What makes India a unique market in comparison to the rest? How are PE investments in Indian companies different from companies globally? How are exits in India different from ones globally? Are LPs cutting down on the India allocations vis-à-vis other markets?
 
Anand Narayan - Senior MD, Creador
Christophe Beelaerts - CFO, Sundaram BNP Paribas Fund Services Ltd
Anand Sunderji - Regional Representative, Paul Capital (Moderator)
 
2:45pm - 3:30pm
In Conversation V: Mapping India’s Early-Stage & Venture Capital Ecosystem
How large is the Indian early stage and venture capital investing ecosystem? What are the emerging opportunities and what are its key drivers? How are the portfolio companies faring today? What are some of the success stories? How different is early-stage and VC investing from traditional private equity investing in India?
 
Bharati Jacob - Founder & Partner, Seedfund
Kanwaljit Singh - Sr. MD, Helion Venture Fund
Vineet Chadha - Partner, Tata Capital Innovations Fund
Amit Patni - Chairman, RAAY Global Investments Pvt Ltd
Sanjay Nath - Co-founder & Managing Partner, Blume Ventures (Moderator)
 
3:30pm - 3:40pm
Concluding Remarks
 
3:40pm - 4:05pm
Tea & Networking

 


Speakers

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Amit Bhatiani

Partner, CX Partners
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Amit Goyal

Senior Manager Investments, DEG
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Amit Patni

Chairman, RAAY Global Investments Pvt Ltd
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Anand Chandani

Regional Director - Asia Pacific, ResponsAbility
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Anand Narayan

Managing Director, Creador Advisors India Pvt Ltd
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Anand Sunderji

Regional Representative, Paul Capital
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Ananta Barua

Executive Director, SEBI
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Anup Bagchi

MD & CEO, ICICI Securities Ltd
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Anuj Puri

Chairman & Country Head - India, Jones Lang LaSalle
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Arjun Bawa

VP, PineBridge
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Ashley Menezes

MD, ChrysCapital Advisors Pvt Ltd
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Bharati Jacob

Founder & Partner, Seedfund
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Christophe Beelaerts

CFO, Sundaram BNP Paribas Fund Services
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Gopal Srinivasan

Chairman & MD, TVS Capital Funds | @TVSCapitalFunds
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Hetal Gandhi

MD, Tano India Advisors Pvt Ltd
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Indranil Pan

Chief Economist, Kotak Mahindra Bank
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Jaganath Swamy

Vice President, Harbourvest Partners (Asia) Limited
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Kanchan Jain

CEO & Principal Managing Partner, Religare Credit Advisors LLP
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Kanwaljit Singh

Sr. MD, Helion Venture Fund
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Kumar Ketkar

Chief Editor, Dainik Divya Marathi
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Manish Kejriwal

Managing Partner, Kedaara Capital Advisors LLP
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Meera Sanyal

Member, AAP
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Nikhil Khattau

Managing Director, Mayfield
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Nupur Garg

Regional Lead - South Asia, Private Equity & Venture Funds, International Finance Corporation (IFC) | @IFC_org
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Padmanabh Sinha

Managing Partner, Tata Opportunities Fund
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Parth Gandhi

MD, AION India Investment Advisors
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Pavan A. Gupte

Independent Advisor, Former Head of Asia, Hermes GPE and Chief Strategy Officer, CVCI Private Equity
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Pavninder Singh

MD, Bain Capital
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Pramod Ahuja

Partner, Tata Capital Growth Fund
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Praveen Chakravarty

SEBI Committee on Primary Markets & Board Advisor, TVS Capital
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Raghubir Menon

Partner, Amarchand & Mangaldas & Suresh A. Shroff & Co.
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Rahul Bhasin

Managing Partner, Baring Private Equity Partners (India) Pvt Ltd
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Rajeev Agrawal

Partner, Ambit Pragma
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Rajesh Ramaiah

Director & CFO, Premji Invest
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Ramesh Venkat

Chief Executive Officer, Reliance Private Equity
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Roopa Purushothaman

Managing Director and Head of Research, Everstone Capital Advisors
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Rubi Arya

Executive Vice Chairman, Milestone Capital Advisors
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Satrajit Bhattacharya

Joint General Manager - Treasury, HDFC
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Sandeep Singhal

Co-founder & MD, WestBridge Advisors Private Limited
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Sanjay Jha

Founder - Hamara Congress, Congress Spokesperson
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Sanjay Kukreja

Managing Director, ChrysCapital Advisors Pvt Ltd
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Sanjay Nath

Co-founder & Managing Partner, Blume Venture Advisors Pvt. Ltd. | @BlumeVentures
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Saurabh Mukherjea

CEO of Institutional Equities business, Ambit Capital Pvt. Ltd
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Shachindra Nath

Group CEO, Religare Enterprises Limited
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Shankar Narayanan

Co-Head, Carlyle Asia Growth Partners
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Sunil Rohokale

CEO & MD, ASK Group
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Sunil Sanghai

MD - Head of Global Banking India, HSBC
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Tushar Poddar

MD & Chief Economist, Goldman Sachs
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V. Hari Krishna

Director, Kotak Realty Fund
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Vamesh Chovatia

Managing Director, NEA
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Vineet Chadha

Partner, Tata Capital Innovations Fund
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Vishal Nevatia

Managing Partner, India Value Fund
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Vishal Tulsyan

CEO, Motilal Oswal Private Equity
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Viswanathan Parameswar

Executive Director, Adveq Management

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VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.


Venue :

Trident Nariman Point, Mumbai

Date: 19th - 20th Feb, 2014

 

Address:

 

Regal Ballroom

Trident Nariman Point
Nariman Point, Mumbai
Maharashtra
Ph.: 022 6632 6310

 

Premier rooms available @ INR 7500 inclusive of breakfast

 


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