nile river vp guide for startups

7/21/2019 Nile River VP guide for Startups

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Contents

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Executive Summary

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Venture Capital FirmsMajor VC Players in India



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Helion Venture Partners

Industries Outsourcing, Internet, Mobile, Technology

Products, Retail Services, Healthcare, Education and

Financial Services.

Helion Ventures Partners is a $605 Million India-focused, early to mid-stage venture

fund, investing in technology-powered and consumer service businesses. It invests

between $2 million and $10 million in each company with less than $10 million in

revenues. The firm also participates in future rounds of financing in syndication with

other venture partners and seeks a board seat in its portfolio companies. It prefers to

exit its companies through public market listing, strategic sales, or transfer the stake

to another private equity firms.

[email protected]

+91 80 4018 3333

+91 124 461 5333

Portfolio Companies



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Accel Partners

Industries Infrastructure, Internet & Consumer Services,

Mobile and Software & Cloud-Enabled Services

Founded in 1983, Accel Partners has global presence in Palo Alto, London, New

York, China, and India. They typically make multi-stage investments in internet

technology companies. The firm considers investments between $0.5 million and

$50 million in its portfolio companies. It seeks to take a minority stake in the

portfolio companies.

Portfolio Companies

[email protected]

+91 80 4123 2551

+91 80 4353 9800


http://slidepdf.com/reader/full/nile-river-vp-guide-for-startups 7/786!"#$& ' ( ) * + , - . /+ ( & / - , + / )

Industries internet and software sectors, data infrastructure,

biotechnology, mobile application, telecommunications

equipment, media, consumer internet, research and

development, mobile,

Blume Venture Advisors is a venture capital firm specializing in early-stage seed,

start-ups, pre-series A, series B, and late stage investments. The firm prefers to

invest in 80 percent in technology ventures and 20 percent in alternative technologysector including clean technology and robotics. It provides seed funding between

$0.05 million and $0.3 million in seed stage and doubles its investment size where it

co-invests. The firm also makes follow-on investments to its portfolio companies,

ranging between $0.5 million and $1.5 million. It seeks to co-invest with angel

investors, syndicates, and venture capital firms. The firm also provides mentoring

and support to its portfolio companies.

Portfolio Companies

https://www.linkedin.com/

in/karthikreddyb

Blume Venture Advisors



Sequoia Capital India

Industries Consumer, Energy, Financial, Healthcare,

Outsourcing, Technology

Sequoia Capital India is a venture capital firm specializing in investments in

startup, seed, early, mid, late, expansion, public and growth stage companies.

The firm prefers to invest in the information technology companies with a focus

Portfolio Companies

+91 80 4124 5880

+91 22 4074 7272

+91 11 4956 7200

on the emerging India-US cross border companies. It seeks to invest between $0.1 million and $100 million in

its portfolio companies. The firm invests between $100,000 and $1 million in seed stage, between $1 million

and $10 million in early stage, and between $10 million and $100 million in growth stage companies. It prefers

to act as the lead investor in most transactions.



Nexus Venture Partners

Industries Technology, consumer and business services, media,

energy, agribusiness, outsourced services, Internet, rural sector, cloud,

storage, infrastructure, big data analytics, data security, and mobile.

Nexus Venture Partners is a venture capital firm specializing in start-ups,

early stage, and early growth stage investments. The firm typically invests

between $0.5 million and $10 million in early / early-growth stage companies.

The firm also invests up to $0.5 million in their seed program.

Portfolio Companies

+91 80 4945 6600

+91 22 6626 0000

The firm also participates in follow-on investments at later stages for companies that successfully execute their

business plans. The firm can do multiple rounds going up to $20 million. It takes minority stake that varies

from 20 per cent to 40 per cent. The firm prefers to take a board seat in its investee companies and do not seek

to control or manage the company they invest in.

[email protected]



Inventus Capital Partners

Industries Consumer, Hotels, Restaurants and Leisure, Media,,

Internet and Catalog Retail, Healthcare, Information Technology,

Technology Hardware and Equipment, Telecommunication etc.

Inventus Capital Partners is a venture capital firm specializing in early seed

phase, seed-prime, series-A, startup, early stage, mid venture, and early-

growth investments. The firm does not invest in capital intensive companies

like semiconductor. It typically leads the first venture round with $1 million to

Portfolio Companies

+91 80 4125 6747

$2 million and invests from $0.25 million up to $10 million as businesses grow. The firm seeks to acquire a

board seat in its portfolio companies. Inventus Capital Partners was founded in 1993 and is based in Menlo

Park, California with an additional office in Ebene, Mauritius and Bangalore, India.

[email protected]



IDG Ventures

Industries Digital Consumer – Internet, Mobile, Media and

Technology Enabled Consumer Services; Enterprise Software –

SaaS, Software Products and Enterprise services; Engineering –

Medical Devices, Clean-tech and IP-led Businesses

IDG Ventures India is a venture capital firm specializing

in startup, early stage and growth stage and expansion

stage companies. It primarily invests in companies based

in

Portfolio Companies

+91 80 4043 4836

+91 11 3019 4145

India but also invests in companies outside India that want to leverage India as an offshore resource base and/or

want to drive significant sales revenue from the Indian market. The firm typically invests between $0.5 million

and $10 million. IDG Ventures India was founded in 2006 and is based in Bangalore and Delhi.

[email protected]



Canaan Partners

Industries Technology- Advertising & Marketing, Big Data/

Cloud, Consumer, Enterprise/SaaS, FinTech, Hardware;

Healthcare – Biopharma, digital Health & MedTech.

Canaan Partners is a venture capital firm specializing in all stages of

development, seed financings, start-ups, growth and early stage

investments, typically Series A and B financings.

+91 124 4301841

It seeks to invest globally with a focus on Asia including India, Israel, and United States. The firm typically

invests between $0.05 million to $80 million in its portfolio company. It prefers to exit its investments within

seven to 10 years.

[email protected]

Portfolio Companies



SAIF Partners

Industries IT, ITes, Industrials, Financial Services,

Internet, Consumer Product, Mobile

SAIF Partners is a private equity and venture capital firm specializing in

incubation, seed, early-stage, late stage, and growth capital investments.

The firm invests organically and through acquisitions.

+91 124 496 5500

The firm typically invests between $10 million and $100 million, in one or more rounds of financing, with

investments between $200,000 to $500,000 in early stage companies, and between $30 million and $35 million

in more mature unlisted ventures. For public market transactions, investments start at about $10 million. It

seeks to obtain a significant minority equity ownership position in the range of 10 percent to 40 percent of a

portfolio company along with a seat on the board of directors.

[email protected]

Portfolio Companies



Approach Guidance

Before contacting the VCs, you have to articulate your idea into a Investor Pitch or Business Plan

and assess the value of your firm through a Valuation. The three important prerequisites are:

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Valuation Approaches and Illustration89# 0:+#$:# 1$* ;'% <#9+$* "1=&+$, >/&' ?/@21$>



Approaches and Methodologies

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Income Approach

The income approach recognizes that the value of an investment is premised on the receipt of future economic

benefits. These benefits can include earnings, cost savings, tax deductions and the proceeds from disposition.

Discounted Cash Flow Method (“DCF Method”) is a form of the income approach that is commonly used to

value businesses or equity interests.

Market Approach

The market approach assumes that companies operating in the same industry will share similar characteristics

and the company values will correlate to those characteristics. Therefore, a comparison of the subject company

to similar companies whose financial information is publicly available may provide a reasonable basis to

estimate the subject company’s value.

Cost Approach

The cost approach considers reproduction or replacement cost as an indicator of value. The cost approach is

based on the assumption that a prudent investor would pay no more for an entity than the amount for which he

could replace or re-create it or an asset with similar utility.

Generally Accepted Valuation Methodologies

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Enterprise Stages

Stage Description

I

No Product Revenue and limited expense history with, an incomplete management team with an idea, a plan, and

possibly some initial product development. Typically, seed capital , or first-round financing, is provided during this stage

by friends and family, angels , or early stage venture capital firms.

II

No Product Revenue but substantive expense history because of product development and business challenges. Series A

or Series B funding happens with early stage venture capital firms, which may provide management or BOD expertise.

III

Significant progress in product development; key development milestones have been met (for example, hiring of a

management team); and development is near completion (for example, alpha and beta testing ), but generally, there is no

product revenue. Typically, later rounds of financing from venture capital firms and strategic business partners.

IV

Additional key development milestones are met (for example, first customer orders or first revenue shipments) and has

some product revenue, but it is still operating at a loss. Typically, mezzanine financing rounds occur during this stage.

Also, it is frequently in this stage that discussions would start with investment banks for an initial public offering (IPO).

V

Enterprise has product revenue and has recently achieved breakthrough measures of financial success, such as operating

profitability or break-even or positive cash flows. A liquidity event of some sort, such as an funding, IPO or a sale of the

enterprise, could occur in this stage.

VI

Enterprise has an established financial history of profitable operations or generation of positive cash flows. Some

enterprises may remain private for a substantial period in this stage. An IPO could also occur during this stage.



We aim to be a leading independent global Valuation and Hedge fund service provider, operating in

key onshore and offshore global financial centers including USA, UK and India.

Founded by former Big Four audit valuation experts with in-depth industry

knowledge in Information Technology, e-Commerce, Electronic Equipment

and Instruments, Advertising, Internet Software & Services,

Banking & Insurance, and Healthcare & Life Science, etc.

“We deliver a bouquet of valuation services under one roof”

Introduction and Services



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Strategic Valuation Services

Fairness Opinion

We provide independent advice to

shareholders, promoters and

boards of directors to assess

reasonableness and fairness of the

price and terms of a transaction,,

for transaction negotiations and in

related party transactions

Internal Valuation

We offer independent advice to

boards of directors to help them

determine the right price to pay or

accept for a business.

Joint Venture Valuation

We evaluate JV relationships and

advise our clients on their JV entry

and exit assessments. We also

assist our clients in determining

contributions of the JV partners,

whether in the form of cash or

intangibles

Our strategic valuation services include advising senior management, boards of directors,

shareholders and promoters of public and private companies on evaluating transactions for

acquisition or divestment opportunities, raising capital, considering mergers, de-mergers, jointventures or divestitures. We assess critical value drivers of the business and advise clients on the fair

value of their businesses.

ESOP Valuation

We value the ESOP awards with

Relative TSR metrics, using

sophisticated modeling techniques

such as Monte Carlo Simulation /

Lattice tools which allow clients to

quickly and accurately value new

grants, whether they are market

stock units, index outperformancegrants or percentile ranks grants



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Business Valuation Services

Intangible Asset

We value intellectual property

assets like patents, copyrights,

trademarks, trade names or brands,research and development assets,

products in R&D stages, etc. We

review license and franchise

agreements from a valuation

perspective. We also value and

evaluate intangible assets like

contractual and non-contractual

customer relationships, core

deposit intangibles, customer lists

and non-compete agreements.

Impairment Testing

We assist clients in reviewing

annual goodwill impairment by

valuing each reporting unit and

applying the two step process

involving evaluation of indication of

impairment and quantification of the

amount of impairment, if any.

Portfolio Valuation

We assist private equity and VC

funds by establishing and

determining the fair value of theirunquoted investment portfolios

which can facilitate the making of

strategic decisions.

We assist boards of directors and key stakeholders in evaluating, identifying and valuing intangibles

pre- and post- acquisitions and carry out purchase price allocations for US GAAP and IFRS. We

carry out annual impairment testing under US GAAP, IFRS and Indian GAAP. Our team also assists private equity and venture capital funds in determining fair valuations of their portfolio investments.

Purchase Price Allocation

We assist our clients in evaluating,

identifying and valuing intangibles

for the purpose of purchase pricea l loca t ions (PPA) and in

understanding accounting impacts

before deal execution by carrying

out pre-deal PPAs.



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Transaction Support Services

Pre-Funding Valuation

Valuing the Business for funding

consideration. We assess critical

value drivers of the business and

advise clients on the fair value of

their businesses, which can be

used as a support and starting

point for further negotiations.

Financial Modeling

Whether it is evaluating new

busines s ven tur es , proposed

transactions or financial and

operational strategies, a robust and

dynamic financial model is an

integral component to the

decision-making process.

With the increase in M&A transactions in Indian business landscape, valuation issues have become

increasingly important considerations in corporate business operations.

Spin Off / Exit Valuation

Valuation an arm or reporting unit

of Business for Spin off, cave out,

management buy outs etc.

Valuating the business for exit

plans cons ider ing the va lue

addition and synergy created.



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ALPS Advantage

Alps Venture Partners has established a team of experts that have experience in valuing businesses across

diverse industry sectors and all developmental stages, ranging from clients with seed funding to pre-IPO stage.

With the team having experience of both valuations and audits, our detailed and insightful valuation appraisal

reports, along with our responsive support, help our clients easily pass through any stringent audit review

process in a smooth, efficient and time-bound manner.

GF

GI

GJ

Ex-Big Four valuation specialist

Experience of 1000+ Business

Valuation Appraisals.

Strong domain expertise acrossIndustries and Verticals

GKAdept in Start-up and Early Stage

company Valuation



List of Venture Capital Firms in India



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Venture Capital Firms in India

5ideas Inc.

Seed/Startup; Early Venture

It invests between INR 25 lakh ($0.04 million) to

INR 1.5 crore ($0.27 million) and can go upto INR

2.5 crore ($0.46 million) in follow-on rounds.

5ideas Inc. founded the firm in 2012 and is based in

India.

Aarohan Ventures

Aarohan Ventures is an incubator and venture

capital firm specializing in seed and early stage

investments. The firm typically invests in

education, healthcare, technology for impact, and

livelihood sectors.


Aavishkaar Venture Management Services


The firm prefers to invest in micro and small

enterprises that increase income in or provide

necessary goods and services to rural or semi-urban

India. It considers investments in bottom-of-the-

pyramid (BoP) space. It typically invests between

$0.47 million and $8.00 million.

Abraaj Capital

The firm seeks to make equity investments

between $0.5 million and $100 million; typically

investing $10 million to $100 million in private

equity investments as well as in real estate. The

firm acquires controlling or significant interest

and seeks board representation.

Seed/Startup; Early Venture; Emerging

Growth; Turnaround; Middle Market



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Actis Capital

Emerging Growth; Turnaround; Middle Market;

Mature; Mid Venture; Late Venture

The firm seeks to invest between $5 million and $100

million in its portfolio companies. It providesminimum equity investment of $50 million for buyout

and growth transactions. The firm seeks controlling or

minority stake in the portfolio companies, for a period

of three to six years.

Aditya Birla Private Equity

It makes invests in unlisted mid-market

companies. It does not invest in real estate andhard infrastructure. It invests through equity,

quasi-equity or equity linked instruments in

companies. The firm is sector-agnostic. Deal size

between $ 4.11 - $ 25.0 million.

Seed/Startup; Early Venture; Middle

Market; Mature; Mid Venture; Later Stage

Advent International Corporation

Seed/Startup; Emerging Growth; Turnaround;

Middle Market; Late Venture; Later Stage

For VC investments, the firm seeks to make equity

investment between $5 -$20 million. It prefers to exit

an investment between three - seven years or until

the company is ready to move to its next stage of

development either through a trade sale to another

company, through flotation or IPO's, or acquisition

by another PE firm.

AIF Capital Limited

AIF Capital Limited is a private equity and

venture capital firm specializing in middle

market, expansion, buyouts, recapitalization,

special situations, and growth capital investments.

It will not invest in real estates. The firm prefers

to invest in traditional industries.

Emerging Growth; Turnaround; Middle

Market



24!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Aldrich Capital Partners

Middle Market; Mature

The firm typically invests between $5 million and $20

million in companies with annual sales between $5million and $50 million and EBITDA of at least $1

million. It also invests in family and founder-owned

firms seeking growth capital or shareholder liquidity,

or both.

Aloe Private Equity SAS

It typically invests between "2 million ($2.99

million) and "20 million ($26.68 million) percompany with revenue up to "100 million

($136.37 million). Aloe Private Equity SAS was

founded in 2004 and is based in Paris, France

with additional offices in Mumbai, India.



AMP Capital Investors Limited

Seed/Startup; Early Venture; Mature; Mid

Venture

The firm primarily provides its services to private

investors, institutions, advisers, and AMP financial

planners. It manages separate client focused

portfolios for its clients. It invests between $10

million to $50 million per asset and would be bought

and sold during the life of the fund.

Angelico Ventures

It invests in life sciences, cancer, heart disease,

neurodegenerative diseases, ageing and other

therapeutic areas. The firm invests between $1

million to $10 million including follow-up

investments and no single investment is greater

than 20% of active fund.

Emerging Growth; Turnaround; Middle

Market



25!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Apax Partners LLP


Middle Market; Mature; Late Venture

It invests in late ventures, growth capital, leveraged

acquisitions, management buyouts, buy-ins, andrecapitalizations. It typically invests in technology

and telecommunications; retail and consumer;

financial and business services; media; and healthcare

sectors.

APIDC Venture Capital Ltd.

Helps financing in all industry sectors in the

Andhra Pradesh. It also acts as an incubator ofInternet start-ups focusing on information

technology and seeking to expand internationally.

It investments do not exceed $0.4m and its target

return is 30% in a period of 5 to 7 years.



ArthVeda Fund Management Pvt. Ltd

-

ArthVeda Fund Management Pvt. Ltd is a venture

capital and private equity arm of Dewan Housing

Finance Corp. Ltd. It also manages real estate funds

and also provides debt to infrastructure sector.

Artiman Managment LLC

The firm is sector agnostic, usually invests in the

technology sector with a focus on medical, home

healthcare, enterprise software, environmental

and energy-related technologies, manufacturing

technologies, and life sciences investments with

investments of $0.1 - $4 million.

Seed/Startup; Early Venture; Mid Venture;

Incubation



26!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Ascent Capital Advisors

Turnaround; Middle Market

The firm typically invests between $1 million and $30

million. It prefers to acquire controlling stakes in portfolio companies however does not generally seek

operating control. The firm prefers to exit though

public listing or other exits and typically holds its

investment for four to six years.

Asian Healthcare Fund

ASIAN Healthcare Fund is a venture capital and

private equity arm of Dabur India Ltd.. The firmseeks to invest in the healthcare and life sciences

spectrum. The firm seeks to invest between $5

million and $20 million. It seeks either minority

or majority stakes in its portfolio companies.



Aureos Capital Limited

Seed/Startup; Early Venture; Emerging Growth;

Mid Venture; Late Venture

It typically invests between $0.035 million to $80

million in companies with revenues between $6

million and $35 million. Aureos Capital Limited was

acquired by Abraaj Capital. The firm invests in

businesses which have an operating history of

between three years and seven years.

Avendus PE Investment Advisors

It has a preference for sectors which benefit from

India’s strong domestic consumption or

infrastructure spending, India’s rising consumer

discretionary spend, rural prosperity, and rapid

urbanization.

Early Venture; Turnaround; Middle

Market; Mid Venture; Later Stage



27!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Axis Private Equity Ltd.

-

Axis Private Equity Ltd is a private equity and

venture capital arm of AXIS Bank Limitedspecializing in growth capital. The firm seeks to

invest in infrastructure sector. It typically invests at

least $10 million with no upper limit.

Axon Partners Group

The firm prefers to invest in technology focused

companies, nanotechnology, biotechnology,telephone equipment, environmental and facilities

services, heavy electrical equipment, digital,

materials, energy, and water purification.



Baer Capital Partners Ltd.

Middle Market

Baer Capital Partners Ltd. is a privately owned

investment manager. It sponsors and manages hedge

funds and private equity for its clients. The firm

seeks to invest through its fund, Beacon India Private

Equity Fund L.P.

Bain Capital Private Equity

It seeks to invest between $5 million and $1

billion in companies in diversified industries. It

was founded in 1984 and is based in Boston,

Massachusetts

Early Venture; Emerging Growth;




28!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Banyan Tree Finance Pvt. Ltd.

Middle Market

It seeks to invest in the small and medium companies

in the industrial sector in India. It typically invests incompanies which have revenues in excess of $20

million. The firm seeks board representation in its


Basil Partners

The firm seeks to invest in North America,

Europe, and Asian countries with a focus onIndia. It makes equity investments in the range

between $1 million and $ 5 million with a

minimum revenue of $5 million.

Emerging Growth

Battery Ventures

Seed/Startup; Emerging Growth; Middle

Market; Mature; Late Venture; Later Stage

Focused on the, consumer finance; consumer

internet; mobile; software; technology enabled

services; BPO / ITES; components, infrastructure

and communications services; and clean technology

sectors.

BCP Advisors Pvt. Ltd.

Headquartered in Mumbai, BCP Advisors focus

on diversified industries to invest.

Middle Market



29!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Berkeley Partners LLP

Emerging Growth

Berkeley Partners LLP, doing business as Berkeley

Energy LLP, is a venture capital firm specializing inrenewable energy infrastructure investments in

developing markets. It primarily invests in Asia. It

has office in New Delhi, India.

Bessemer Venture Partners

It typically makes investments in the range of $.1

million and $75 million. The firm seeks toacquire a seat on the Board of Directors of the

portfolio companies. Bessemer Venture Partners

was founded in 1911.


Growth; Late Venture; Incubation

Bharti Airtel Ltd, Investment Arm

Seed/Startup

Bharti Airtel, Investment Arm is a principal

investment firm specializing in seed and startup

investments. It seeks to invest in companies in the

telecommunication, software and services industry.

BlueRun Ventures

The firm primarily focuses on investments in

mobile businesses. It also invests in technology

industry. It prefers to make initial investments

ranging between $1 million and $6 million with

additional capital reserved for follow on rounds.

BlueRun Ventures was formerly known as Nokia

Venture Partners.




30!"#$& ' ( ) * + , - . /+ ( & / - , + / )


BTS Investment Advisors Ltd.

Emerging Growth; Mid Venture; Late Venture

It is a PE and VC arm of BTS Belvoir Trust AG

specializing in growth capital investments in early,mid to late growth stage companies. The firm does

not invest in start-ups. It prefers to invest in

pharmaceuticals, engineering, information

technology, telecommunications, and energy sectors.

Canbank Venture Capital Ltd.

It invests a from $0.2 - $2.3 million in small to

medium sized companies with high growth potential, specifically IT, telecommunications,

Internet start-up or early venture, and

manufacturing companies developing new

industrial and technological processes.


Growth; Mid Venture; Late Venture

Caspian Advisors Private Limited

Seed/Startup

It typically invests in the Non-banking financial

companies and diversified financial sector. The firm

seeks to invest in companies based in India. Caspian

Advisors Private Limited is based in Hyderabad,

India with an additional office in Gurgaon, India.

Seed/Startup

Catalyst Microfinance Investment Company

It primarily seeks to invest in emerging micro

finance institutions with a focus on banks, non-

bank financial institutions, co-operatives, and

NGOs which are willing and able to transform

into a commercial for-profit institution. It

typically holds its investments for a period of five

to seven years.



31!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Catamaran Investment Pvt Ltd

Seed/Startup; Early Venture; Late Venture

The firm seeks to invest globally with a focus in

India. Catamaran Investment Pvt Ltd. was founded in2009 and is based in Bangalore, India with additional

offices in London, United Kingdom.

CEA Capital Advisors, LLC

It invests in communications, media and

entertainment, and IT sector with a focus on broadcast radio and television, programming and

content, telecommunications, outdoor advertising,

publishing, wireless communication, and internet

services.

Middle Market, Mature

Centre for Innovation Incubation and Entrepreneurship

Seed/Startup; Early Venture; Incubation

It seeks to invest between INR0.1 million ($0.0016

million) and INR100 million ($1.64 million). It

prefers to hold its investments across a horizon of

five to seven years. The firm also provides office

infrastructure including office cubicles, co-working

space, and access to infrastructure at IIM,

Ahmedabad.

Seed/Startup

Cheraman Financial Services Ltd

The firm typically invests in Kerala. It prefers to

invest between INR10 million ($0.15 million) and

INR250 million ($4 million). It may also consider

larger investments jointly with national funds.

Cheraman Financial Services Ltd, Investment

Arm is based in Vytila, India with an additional

office in Cochin, India.



32!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Cinema Capital

-

Cinema Capital is a venture capital firm specializing

in growth capital investments. It seeks to invest in theMovies and Entertainment. It is based in Mumbai,

India.

CLSA Capital Partners

It invests in opportunities arising from domestic

demand, asset reflation, leveraged buyout, realestate properties, and interregional trade. It also

invests in the office, industrial, retail, and mixed-

use properties. The firm typically invests between

$25 million and $75 million in the real estate.

Emerging Growth; Middle Market

Contrarian Drishti Partners

Early Venture

The firm seeks to invest in education, healthcare,

livelihood generation, housing, energy/utilities, food

and agribusiness, and agricultural sectors. It seeks to

invest in under-penetrated Indian markets with a

focus on Eastern states. The firm invests between $

0.1 - $5 million in companies with revenue visibility

of at least $0.17 million, for over three rounds.


Crestlight Venture Partners, LLC

It typically invests an average amount of $0.2

million. The firm seeks syndication with strategic

investors. It seeks preferred stock and or debt

securities of the companies they believe are at

prices below their intrinsic value. The firm

prefers to insert ‘CXO’ positions in its

investments.



33!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Darby Overseas Investments, Ltd.

Middle Market

It primarily invests in the consumer products and

services, specialty retail, distribution, packaging,manufacturing, hotel management, financial services,

media, and publishing sectors. It typically invests

between "5 million ($6.88 million) and "25 million

($34.41 million).

Dev Venture Fund

Dev Venture Fund is a principal investment firm

specializing in pre-Series A stage and startups. Itseeks to invest in information technology,

telecom and digital businesses. The firm typically

invests between $300,000 and $2 million.

Seed/Startup

Draper Fisher Jurvetson


Late Venture; Later Stage

The firm invests upto $1 M in seed stage companies,

between $1 - $10 M in early stage, and more than 10

M in growth stage companies. It makes equity

investments in the range between $1 -$20 M with

sales value above $10 M. It seeks to be the lead

investor in its companies' first round of financing and

hold board seat in its portfolio companies.

Early Venture; Turnaround; Mid Venture;

Late Venture

Duke Industries

It prefers to invest in India. The firm prefers to

take a majority or significant minority stake in its

portfolio companies. It also provides merger and

acquisition advisory services. It is based out of

Pune, India



34!"#$& ' ( ) * + , - . /+ ( & / - , + / )


East West Capital Partners

Late Venture

It seeks to invest in pharmaceutical and biologic

manufacturing, medical technology devices,instrumentation, and healthcare services to the end-

customers which include hospitals and drug discovery

services, and other healthcare-related business with a

focus on healthcare information technology.

Educomp Investment Management Limited

Educomp Investment Management Limited is a

venture capital investment arm of EducompSolutions Limited. The firm is based in Gurgaon,

India.

Seed/Startup

Elevar Equity, LLC

Early Venture; Emerging Growth

Elevar Equity is a private equity and venture capital

firm specializing in investing in growth oriented

entrepreneurs building microfinance institutions,

financial services firms, and other companies

providing essential products and services to the base

of the pyramid in emerging markets.

Emerging Growth

Emissary Capital, LLC

The firm invests globally with a focus on the U.S.

It also invests in small and medium businesses in

the public and private equity, and alternative

markets of China and India. Emissary Capital,

LLC was founded in 2005 and is based in New

York, New York with an additional office in

Maharashtra, India.



35!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Ennovent GmbH


The firm focuses on making social investments for

people from low income households (Base of thePyramid or BoP) and provides backing to for-profit

companies catering to the poor. It does not invest in

idea stage, NGOs or lending institutions.

ePlanet Capital

It majorly invests in IT and Hardware focused

companies. It generally holds an investment overa period of 5 7 years and exits through IPO/

M&A for liquid shares or cash. The firm seeks

Board representation and preferred stock in its

portfolio companies



Everstone Capital Management


The firm seeks to invest across companies that have

significant operations in the Indian sub-continent,

Southeast Asia, and India with a focus on major

metro cities including Mumbai, Bangalore,

Hyderabad, Pune, Chennai, and National Capital

Region. It invests between $20 million and $50

million in its portfolio companies.

-

Faering Capital

Faering Capital is a venture capital firm

specializing in growth capital investments. It

seeks to invest in companies based in India. The

firm typically invests between $6.4 million and

$17.1 million in its portfolio companies.



36!"#$& ' ( ) * + , - . /+ ( & / - , + / )


FICCI Investment Arm

-

Federation of Indian Chambers of Commerce and

Industry, Investment Arm is a venture capital firmspecializing in growth capital investments. It seeks to

invest in energy, education services, healthcare and

alternative energy sources.

Forum Synergies (India) PE Fund

It prefers to invest in healthcare; automotive,

electronic hardware, electrical equipment,chemical engineering, medical devices,

pharmaceutical, biotechnology, IT etc. It targets

investing between $2 - $10 million in firms with

revenues between $3 - $50 million.

Emerging Growth

Franklin Templeton Investments (India)

-

Franklin Templeton Investments (India) is a venture

capital firm. It is based in India. Franklin Templeton

Investments (India) operates as a subsidiary of

Franklin Resources Inc.

Early Venture; Emerging Growth;


Frontline Strategy Limited

The firm targets investments in companies in

energy, manufacturing, services, consumer

durables and apparels, power, information

technologies, business process outsourcing,

internet, real estate derivative plays to retail

chains, media or entertainment, entertainment

equipment, telecom, life sciences, healthcare.



37!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Fulcrum Venture India


It has preference towards fast moving consumer

goods, financial services, healthcare, pharmaceutical,wellness, niche retail, consumer durables, education,

and information technology and technology. The firm

seeks to invest in India. The firm seeks to invest

between INR 5 crores - INR 20 crores.

Gabriel Venture Partners

It typically invests in clean tech, networking,

communications, and IT companies with a focuson wireless, disruptive technology components,

energy efficient LED light sources, algae

biodiesel, infrastructure software and systems,

and enterprise SaaS companies.

Early Venture

Gaja Capital Partners


It invests in services, broad consumer services,

manufacturing, infrastructure services, human

resource, financial services, education, and retail. It

focuses on domestic sectors within India. The firm

invests between $5 million - $18 million in its



Garnet Mercantile P Ltd.

The company focuses on Indian startups, early

stage, and incubation businesses in the industry of

Information Technology. It has $4 million in

capital under management, and its fund (Garnet

Mercantile Fund) was launched in 1996 and

collected $2 million.



38!"#$& ' ( ) * + , - . /+ ( & / - , + / )


General Atlantic LLC

Early Venture; Emerging Growth; Mature; Mid

Venture; Late Venture

It is a global investment firm with focus on all stages

of enterprise in diversified industries. It typicallyinvests between $50 million and $500

Gennext Ventures

Gennext Ventures is a venture capital arm of

Reliance Industries Limited specializing in seed,startup, and early stage investments. The firm was

founded in 2010 and is based in Mumbai, India.

-

Global Business Development Network, LLC

It specializes in investments in renewable energies,

climate change, biotechnology, telecommunication

and information technologies, and agribusiness

sectors.

Global Environment Fund

It seeks to invest in clean energy and

environmental services, independent power, gas

distribution, consumer products, clean energy,

sustainable forestry, timberland, agricultural

processing, transportation logistics, and emerging

markets in businesses that provide cost-effective

solutions to environmental and energy challenges.

Turnaround; Middle Market Seed/Startup; Early Venture; Incubation



39!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Glovoc Inc

-

Glovoc Inc is a venture capital firm specializing in

growth investments. The firm seeks to invest inservices businesses. It prefers to invest in Asia-

Pacific, Central and Eastern Europe, Western Europe.

Glovoc Inc is based in India.

Gray Ghost Ventures

The firm’s focus areas include: microfinance,

social venture investment, and affordable privateschools in low-income communities of emerging

markets. It makes investment between $1 million

and $5 million.


GVFL Ltd


GVFL Ltd., is the venture capital arm of

Government of Gujarat specializing in seed and start-

up financing, early stage, and growth capital to small

to medium sized unlisted companies. The firm

invests between $0.1 - $2 million, and generally

takes a minority stake up to 40 percent in each

portfolio company.

Early Venture; Emerging Growth; Middle

Market; Mid Venture; Late Venture

Headland Capital Partners Limited

It's PE funds seeks to invests in the consumer

goods and services, industrial and manufacturing,

and electronics and technology sector. It seeks to

invests between $40 - $150 million in its PE fund

while it seeks to invest between $10 - $30 million

in its VC fund. The firm prefers to exit its

investment after two to four years.



40!"#$& ' ( ) * + , - . /+ ( & / - , + / )


High Street Capital Private Limited

-

It is the PE and VC arm of Jubilant Life Sciences Ltd.

specializing in growth and expansion capitalinvestments. It typically invests in small and medium

enterprises in sectors such as infrastructure service

providers, component manufacturers, asset operators,

and other infrastructure related enablers.

Horizen Ventures Management

It is a venture capital firm specializing in early

stage investments. The firm considersinves tment s in the in fo rmat ion and

communication technology and internet sector. It

typically invests in companies based in India, the

United States, Africa, and Asia.

Early Stage

ICF Ventures Pvt. Ltd.


Mid Venture; Incubation

It seeks to invest in knowledge-based companies,

focusing on information technology, biotechnology

and life sciences, telecommunications, media

services and internet industries. The firm typically

invests in the Indian Silicon Triangle formed by the

cities of Bangalore, Chennai and Hyderabad, and the

Mumbai region.


Market; Mid Venture; Late Venture

ICICI Venture

ICICI Venture is a private equity, venture capital,

and real estate investment arm of ICICI Bank Ltd.

The firm typically invests between $2 million and

$100 million and operates in deal sizes upwards

of $20 million in buyouts besides growth capital

deals.



41!"#$& ' ( ) * + , - . /+ ( & / - , + / )


IDFC Infrastructure

-

IDFC Infrastructure is a venture capital arm of IDFC

Limited specializing in direct or indirect investmentin infrastructure projects and assets with a focus on

growth capital, greenfield, brownfield, and

operational projects. It typically invests between $30

million to $50 million per investment.

IDFC Private Equity

IDFC Private Equity is a private equity and

venture capital arm of InfrastructureDevelopment Finance Co. Ltd. specializing in

growth investments in infrastructure and real

estate. The firm invests between $17 - $55

million in a portfolio company.

-

IFCI Venture Capital Funds

Seed/Startup; Late Venture

IFCI Venture Capital Funds Ltd. is a venture capital

arm of IFCI Ltd. The firm seeks to invest in seed/

startup and late venture firms. The firm prefers to

invest between $0.1 million and $6.73 million in its

portfolio company. IFCI Venture Capital Funds Ltd.

was founded in 1988 and is based in New Delhi,

India.

-

IFMR Investment Managers

It seeks to invest in microfinance institutions. The

firm typically invests in India. The firm provides

senior secured and subordinated debt in the form

of non-convertible debentures. It prefers to exit it

investments in a period of 6 years close ended.

IFMR Investment Managers Private Limited is

based in Chennai, India.



42!"#$& ' ( ) * + , - . /+ ( & / - , + / )


IFMR Ventures India Private Limited

Seed/Startup; Incubation

It seeks to invest in the education services, healthcare,

diversified financials, water utilities, and solid wastecollection, treatment and disposal services.

IFU

IFU is a venture capital and private equity firm

specializing in financing in the form of equity,mezzanine, loans, debt and guarantees. IFU was

founded in 1967 and is based in Copenhagen,

Denmark with additional offices in Beijing,

China; New Delhi, India etc.

-

IKP Investment Management Company


It seeks to invest in technology, telecommunication

services, communications equipment, life sciences,

pharmaceuticals, and automobiles and components.

The firm prefers to invest in India. It typically

invests between $0.002 million and $0.011 million.

-

IL&FS Investment Managers Limited

The firm prefers to make seed capital funding in

infrastructure projects in the range of $2 million

and $10 million. The firm seeks to hold its

investments for a period between three years and

five years. It seeks to make private equity

investments in post revenue companies. The firm

prefers to take a seat on the board of directors.



43!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Incofin Investment Management


Incofin Investment Management is a venture capital

firm specializing in seed/start-up, early stageinvestments, and investments in microfinance

institutions and SME’s in developing countries, rural,

cooperatives, financial services, agriculture, and

commercial micro finance institutions.

Incube Ventures Pvt Ltd

It is sector agnostic but primarily seeks to invest

in healthcare delivery, vocational education andskill enhancement, clean energy and eco

businesses, and sustainable rural businesses

innovations. It seeks to invest between Rs 5

million to Rs 1.5 billion with incubation.


IncuCapital Advisors Pvt. Ltd.


The firm typically invests between Rs 50 lakh ($0.08

million) and Rs 8 crore ($1. 30 million) in each

portfolio company. IncuCapital prefers to take a

minority stake and becoming a co-founder of the

portfolio companies. The firm prefers taking an

active operational role as an equal stakeholder in its


Middle Market

India Equity Partners

It seeks to invest in consumer-focused industries

and infrastructure and infrastructure services with

a focus on consumer products, human resource

services, personal care, FMCG and food sector,

healthcare, consumer finance, utility services etc.

The firm typically invests in India with a focus on

Karnataka.



44!"#$& ' ( ) * + , - . /+ ( & / - , + / )


India Quotient


The firm focuses on investments in B2C companies in

the following sectors: internet and mobile; fashion;lifestyle; consumer finance; technology-oriented

businesses in the healthcare and education segments;

financial services; food and travel; and consumer

discretionary.

India Value Fund Advisors Private Ltd

It invests between $25 million and $100 million.

In certain situations. The firm exits itsinvestments within five to eight years through

IPOs, mergers, takeovers, and joint ventures.

Middle Market

India Venture Advisors

-

India Venture Advisors is a private equity and

venture capital arm of Piramal Enterprises Limited

specializing in growth capital investments. It seeks to

make investments in the healthcare, pharmaceuticals,

education, social infrastructure resources, and life

sciences sectors. The firm prefers to invest in India

in tier-2 and tier-3 towns.

Early Venture; Incubation

Indiaco Ventures Ltd

It typically invests in small and medium

enterprises, where intellectual property is

considered as the key ingredient. It seeks to invest

in manufacturing, entertainment, water, clean

energy, telecommunication, information

technology, healthcare, aerospace and defense,

and energy sector.

i l i i di



45!"#$& ' ( ) * + , - . /+ ( & / - , + / )


IndiaSocial Fund


It typically invests in social enterprises with a focus

on employment, education, and training and socialtechnologies with a focus on solving social challenges

like pollution, pre-harvest efficiency, and affordable

healthcare. It seeks to invest between INR 5 million

and INR100 million in each enterprise.

Indocean Chase Capital Advisers

It invests between $25 million and $100 million.

In certain situations. The firm exits itsinvestments within five to eight years through

IPOs, mergers, takeovers, and joint ventures.


India Venture Advisors

-

India Venture Advisors is a private equity and

venture capital arm of Piramal Enterprises Limited

specializing in growth capital investments. It seeks to

make investments in the healthcare, pharmaceuticals,

education, social infrastructure resources, and life

sciences sectors. The firm prefers to invest in India

in tier-2 and tier-3 towns.

Early Venture; Incubation

Indiaco Ventures Ltd

Indocean Chase Capital Advisers is an affiliate of

J.P. Morgan Partners that advises on investments

in India and technology investments in Asia

Pacific. The company will provide primarily

equity, amounts ranging from $250,000 to $75

million, give active management and financial

advice in exchange for BOD seat and stake.

C i l i i di



46!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Indus Balaji Private Equity

Early Venture

It invests in the media, entertainment, logistics,

healthcare, and agriculture services sectors. The firmtargets investing in small and medium enterprises. It

will invest between $4 million and $5 million in each

portfolio company.

IndusAge Partners

The firm seeks to invest in technology space such

as mobility, cloud, telecommunication, consumerinternet, and energy efficiency sectors and also

considers investments in technology enabled

services in education, financial services, health,

and enterprise support with office in Chennai.

Early Venture

Infinity Venture Fund

Seed/Startup

It seeks to invest in products and services that utilize

technology, internet, telecommunications, new-

media, and convergence abilities for investment. It

typically invests in companies based in India.

Infinity Venture Fund is based in Mumbai, India


Innosight Capital

The firm seeks to invest in early/seed stage

disruptive innovations that dramatically reshape

the availability, cost, and convenience of health

care. It focuses on investments in the health care

market and information and communications

technology.

V C i l Fi i I di



47!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Intel Capital


Middle Market; Mature; Mid and Late Venture.

It focuses on both established and new technologies

that help to develop industry standard solutions, driveglobal internet growth, facilitate new usage models,

and advance the computing and communications

platforms. The firm seeks to invest between $300

million and $500 million per year.

International Finance Corporation

International Finance Corporation is a private

equity and venture capital arm of World Bankspecializing in both direct and fund investments.

It seeks to invest in early stage companies. The

firm investments typically range from $1 million

to $100 million.


Growth

Inventus Capital Partners

Seed/Startup; Early Venture; Mid Venture

It is a technology focused investment firm. It

typically leads the first venture round with $1 million

to $2 million and invests from $0.25 million up to

$10 million as businesses grow. The firm seeks to

acquire a board seat in its portfolio companies.


Late Venture

IvyCap Ventures

The firm will focus exclusively on financing

ideas and ventures of graduates from IIT's, IIM's,

and other premier institutes. The firm invests

between $0.3 million and $7 million. The firm

prefers to take a board seat in the portfolio

company. IvyCap Ventures is based in Mumbai,

India.A=#13# B+3+% %/@/''/C ./' :/@2=#%# "? =+3% D

V C i l Fi i I di



48!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Ixora Ventures


It invests as angel or venture funding or structured

real estate derivative transactions. It seeks to invest inhealthcare, mobile, education, aerospace, and

technology sectors. It seeks to invest in India and the

ASEAN region. The firm typically invests between

$0.05 million and $0.5 million.

Jina Ventures


million in the companies with revenues between$20 million and $300 million; and EBITDA

between $5 million and $50 million. The firm

prefers to take a board seat in its portfolio

companies.

Early Venture; Middle Market; Mature; Mid

Venture; Late Venture; Later Stage

JM Financial Investment Managers Limited

Seed/Startup; Early Venture; Mid Venture

The firm prefers to invest in retail, fast moving

consumer goods, pharmaceuticals, healthcare,

manufacturing, financial services, KPOs, consumer

services, infrastructure services, information

technology, business process outsourcing services,

logistics, education, and auto ancillaries companies


Late Venture

Jumpstartup Venture Capital

The firm invests in technology-oriented sectors

and traditional businesses (clicks and mortar)

with a strong understanding of brands,

distribution, and logistics. The firm focuses

primarily in the southwestern region between

Bangalore and Mumbai, as well as Pune,

Chennai, and Hyderabad.

V t C it l Fi i I di



49!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Kae Capital


It invests in technology sector including mobile, e-

commerce, education, healthcare, consumer internetand so on. It prefers to invest in the US and

companies based out of India. It seeks to make

investments between $0.05 - $2.5 million. It typically

invests between $0.2 - $1 million in the first round.

Kaizen Management Advisors


million in the companies with revenues between$20 million and $300 million; and EBITDA

between $5 million and $50 million. The firm

prefers to take a board seat in its portfolio

companies.

Early Venture

Kalaari Capital

Seed/Startup; Early Venture; Mid Venture; Late

Venture

It typically provides initial capital to be utilized for

customer acquisition, market validation, product

development, and hiring. The firm seeks to invest in

technology savvy companies and technology-enabled

services for India and the global markets. The firm

also invests in materials, energy, financials, biotech,

and industrials sectors.

Early Venture

Karnataka Asset Management Company

The firm provides first round of capital in

Internet Services and High-end Software Service.

The firm prefers to invest in clean energy,

nano techno logy , b io techno logy , au to

components, aerospace and defense. It focuses on

investments in Karnataka. The firm prefers to

invest between $0.01 million and $0.46 million.




50!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Kerala Venture Capital Fund

Seed/Startup

It prefers to invest in Information Technology,

Biotechnology and Travel and Tourism Services. Itseeks to invest in companies based in Kerela in India.

It is based in Kochi, India.

Kin Advisors

Kin Advisors is a venture capital firm

specializing in startup investments. It primarilyinvests in real estate advisory and education

sector. The firm also provides advisory services.

Kin Advisors is based in Bangalore, India.

Seed/Startup

Kotak Private Equity Group


Venture

It invest consumer businesses like FMCG, retail,

media and entertainment; financial services; life

sciences which includes pharmaceuticals and

biotechnology; IT which included software products

and services; light manufacturing; agri-business;

food processing and infrastructure led services like

healthcare, logistics and distribution.

Early Venture

Kshitij Investment Advisory

It seeks to invest in the retail and real estate

sectors with focus on malls. It seeks to invest in

companies based in India. It is based in Mumbai,

India. Kshitij Investment Advisory Co., Ltd is a

subsidiary of Future Capital Holdings.




51!"#$& ' ( ) * + , - . /+ ( & / - , + / )


KVP Ventures


KVP Ventures is a venture capital firm investing in

start-ups in information technology, media,telecommunications, entertainment and biotechnology

companies. KVP Ventures is based in Mumbai, India.

L Capital Management

The firm seeks to invest in personal care and

well-being, personal equipment, media, home andfamily equipment, and selective retailing. It

invests in India with a deal size between $50

million and $100 million.

Middle Market; Mid Venture; Late Venture

Lazard India Advisors

-

Lazard India Advisors Pvt. Ltd is a venture capital

firm specializing in growth capital. It prefers to

invest in outsourcing services, consumer

discretionary, and Industrials. It seeks to invest in

companies based in India. Lazard India Advisors Pvt.

Ltd based in India.


LIC Housing Finance Ltd

LIC Housing Finance Ltd., Investment arm is a

venture capital firm specializing in mid venture

and late venture. It prefers to invest in Industrials

and Real Estate. The firm is based in India.




52!"#$& ' ( ) * + , - . /+ ( & / - , + / )


LIFE Fund

Seed/Startup

The firm invests in four key sectors – media and

entertainment, hospitality and tourism, healthcare,and lifestyle. It also invests in other sectors such as

retail, education, food, consumer finance, and

agritech. The firm invests in companies located in

India or which have substantial India operations.

Lightbox Management Ltd

It seeks to invest in the consumer technology

space with a focus on education technology. Thefirm invests in India. It invests between $3

million and $5 million. The firm has an

investment horizon of seven to eight years.

Lightbox Management Ltd is based in India.

Early Venture

Lighthouse Advisors India Private Limited


Market

It focuses in financial services, healthcare, education,

rural consumption, engineering, liquor, agribusiness,

technology, hospitality, education, logistics, light

manufacturing, and food processing companies. It

prefers to invest in the United States and India. The

firm primarily invests between $5 million and $15

million in its portfolio companies.



Lightspeed Venture Partners

The firm primarily invests in the following

sectors: enterprise, consumer, big data, bitcoin,

enterprise technology, cleantech, mobile, internet,

financial technology, cloud solutions, e-

commerce, storage, media, networking, energy,

software, software as a service, information

technology, biotechnology, and social.




53!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Lok Capital Group

-

Lok Capital Group is a private equity and venture

capital arm of Lok Foundation specializing in bottom-of-pyramid customer segment investments. It focuses

on investments in India. It seeks to invest between $1

million and $7 million. Lok Capital Group is based in

Gurgaon, India

MakeMyTrip Limited (Investment Arm)

It seeks to invest in the hotel and holidays and

travel and tourism space, with a focus on mobileand IP-based companies. The firm focuses on

investments in India as well as abroad. It prefers

to take minority stake in its portfolio companies.


Matrix Partners India


The firm invests in internet, consumer internet,

eCommerce, travel, vertical classifieds, mobile,

education, education tech, video, SMB tech, local

services, SaaS, online services, financial services,

entertainment, consumer products and services, food,

beverage, hospitality, energy, media, healthcare,

infrastructure services, real estate etc.



Mayfield Fund

In India it invests with a focus on technology,

technology enabled services, consumer services,

infrastructure ancillaries, healthcare services, and

manufacturing opportunities. It typically makes

investments between $1 and $15 million with

revenues between $10 million and $100 million.




54!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Microsoft Ventures


Microsoft Ventures operates as an investment arm of

Microsoft Corporation. Microsoft Ventures, formerlyknown as Bing Fund, is an incubator and venture

capital firm specializing in seed, growth and angel

investments in startups and early stage investments.

The company also runs an accelerator program.

Mitsui & Co. Global Investment Ltd.

The firm primarily invests in the IT industry,

specifically in the software, telecommunications,semiconductor, electronics, services sectors, as

well as the healthcare, consumer, auto

components, construction materials, technology,

cleantech, solar energy, life science etc.


Market; Mature

MMP International

-

It is is a private equity unit of Milestone Merchant

Partners. In India it makes investments in the

technology, entertainment, and communications

sectors in companies that have substantial operations

in India.


MobME Wireless Solutions (Investment Arm)

The firm typically invests in internet and telecom

verticals. It seeks to invest in India. The firm

invests between $0.02 million and $0.25 million

in its portfolio companies.




55!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Morpheus Capital Advisors

Seed/Startup

It is the private equity and venture capital arm of O3

Capital Advisors Pvt. Ltd. It targets investing in theconsumption sector with a focus on companies

operating in food and beverages, apparel & retail,

beauty and wellness, travel and tourism, and

education sectors.

Motilal Oswal Private Equity Advisors

The firm prefers to invest in healthcare, consumer

driven businesses, including those in theinformation technology and manufacturing fields.

It also invests in real estate with a focus on

residential properties and commercial real estate

in India.


Market; Mature

Naya Ventures

Seed/Startup; Early Venture; Emerging Growth

The firm typically invests in mobile technology,

cloud space, big data, and SaaS sectors. It focuses its

investments in the United States and India based

companies. The firm seeks to invest in the range of

$2,50,000 and $3 million. It prefers to pick up a

minimum of 5 percent stake in its portfolio

companies.

Seed/Startup

Nazara Technologies (Investment Arm)

It seeks to invest in gaming space. The firm

invests between INR 25 lakh ($0.4 million) and

INR 50 lakh($0.8 million) in companies.




56!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Nereus Capital

Seed/Startup; Turnaround; Middle Market; Late

Venture

It targets investing in renewable power generation,

energy efficiency and infrastructure, alternate energydevelopment, water purification, biofuels,

construction & operation of renewable, power, and

clean energy generation assets or deployment

technologies in India

New Enterprise Associates

Within India, the firm invests in alternative

energy, infrastructure services, consumerservices, and agriculture sector. The firm seeks to

invest between $0.05 million and $20 million.



New Silk Route

Middle Market

It prefers to invest in the consumer services and

FMCG, specialty retail, education, infrastructure,

ports , logis tics , telecommunicat ion, media,

manufacturing, IT, e-commerce, engineering,

medical devices, restaurant chains, F&B, value-

added manufacturing and engineering, financial

services renewable energy including wind and solar.


NewPath Ventures, LLC

It seeks to invest in technology with a focus on

system, silicon, software, and services. The firm

targets companies based in India and United

States.




57!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Nirvana Venture Advisors

Seed/Startup; Early Venture; Late Venture; Later

Stage

The firm invests in mobile, internet, network

companies, and electronic payments markets with afocus on e-commerce, online travel, online

advertising and marketing, mobile and digital content,

and other areas that leverage internet for scale,

distribution or low cost customer acquisition.

Northgate Capital Group

Northgate Capital Group is an investment firm

specializing in FOF investments and directinvestments. The firm typically invests in

alternatives, venture capital, buyouts, growth

capital, distressed, special opportunities,

mezzanine, and secondary funds.

-

Norwest Venture Partners


Venture; Incubation; Later Stage

For its India-centric early to mid-stage venture

capital investments, it prefers to invest in FMCG,

Internet, telecommunications, financial services, and

education sector.


Ojas Venture Partners

It prefers to invest in the technology sector with

focus on mobile technology and applications,

telecom, wireless technologies, enterprise

software, SaaS, embedded software, low capex

semiconductor, web applications/services,

consumer internet, and other businesses that use

technology in innovative ways.




58!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Omnia Investments

Early Venture

Omnia Investments is a venture capital firm

specializing in start up and early stage investments.The firm invests in education and technology sectors.

Omnia Investments is based in India.

Omnivore Partners

It is a venture capital arm of Godrej Agrovet

Limited. The firm seeks to invest in companiesoperating in agriculture and agri-tech sectors. It

seeks to invest between INR2 - INR10 crore

initially and between INR20 crore - INR25 crore

over a company’s life.


One97 Communications, (Investment Arm)


It invests technology companies with focus on

companies which provide mobile value-added

services and leverage mobile as a key delivery

medium for customers and enterprises, like device

apps, location based services, m-Commerce, video,

and content aggregation.



OrbiMed Advisors, L.L.C.

The firm primarily invests in healthcare, global

health science industry including pharmaceutical,

life science, healthcare services, biotechnology,

biopharmaceuticals, diagnostics, novel therapies

and treatments, health IT, medical device

companies, and companies providing services or

products that are part of treatments.




59!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Partners Group Holding


Middle Market

For direct private equity investments, the firm invests

directly into healthcare, consumer, media &telecommunications, information technology,

industrials, infrastructure/energy & utilities, financial

and business services and real estate operating

companies.

Peepul Capital LLC

It prefers to invest in Technology Products and

Services, business services, consumer drivenservices and products, Specialized Engineering,

media and entertainment, special ized

manufacturing, and telecom sectors. The firm

focuses on investments in India.


Market

Perseus, L.L.C.

Turnaround; Middle Market; Mature; Late

Venture

Perseus, L.L.C. is a private equity and venture

capital firm specializing in investments in industry

consolidations, middle market buyouts, mezzanine,

recapitalizations, growth equity investments, and

later stage venture investments. The firm also seeks

to invest in add-on acquisitions and in businesses

that are undervalued.


Persistent Systems, (Investment Arm)

The firm seeks to invest in social, mobile,

analytics and cloud computing sectors around the

globe. The firm typically invests between $0.1

million and $0.25 million. Persistent Systems

Limited, Investment Arm is based in India.




60!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Pinebridge Investments Asia Limited

Early Venture; Turnaround; Mid Venture; Late

Venture

It invests in a variety of industries such as

infrastructure-related services, export manufacturing,consumer products and services, resources-based

industries across Asia.

Plexus Capital Ventures

It invests in energy efficiency, infrastructure

enablers, food and agriculture, and consumption-driven opportunities. It seeks to invest in India.

The firm typically invests between $1 million and

$5 million in its portfolio companies.

-

Pragati India Fund Pvt. Ltd.


It seeks to invest in critical sectors with a focus on

healthcare, education services, and oil and gas

equipment services. It seeks to invest in undergoing

rapid growth and transformation in Northern and

Central India with a focus on low income states. The

firm makes investments in the range of $5 million

and $15 million in companies.

-

PremjiInvest

In venture capital, it invests in growth capital.

The firm seeks to invest in technology companies.

It prefers to invest in the United States and China.

PremjiInvest is based in Karnataka, India.




61!"#$& ' ( ) * + , - . /+ ( & / - , + / )


PROPARCO

Middle Market; Mid Venture; Late Venture;

Later Stage

The firm’s activities in China, Thailand, Indonesia,

India, Pakistan and Brazil are focused on combatingclimate change with a focus on renewable energies

(production or equipment manufacturing) and energy

efficiency in businesses.

Punjab Information Communications And

Technology Corporation Ltd Punjab Information Communications And

Technology Corporation Ltd, Investment Arm is

a principal investment firm. It was founded in

1998 and is based in Chandigarh, India.

-

QUALCOMM Ventures



It invests in Software, Hardware, Cloud/Enterprise,

Health Care, Semiconductor components,

Infrastructure, consumer etc. Qualcomm Ventures,

which started operations in 2000, has invested in

about 95 ventures globally. The company forayed

into India in 2006

Seed/Startup; Early Venture; Turnaround;

Mid Venture

Rajasthan Asset Management Company

It seeks to invest in IT, ITES, hospitality,

education, healthcare, retail, auto components,

agro products, bio-technology, agri-tech, clean

tech, financial services, tourism, entertainment,

logistics, packaging and other technology driven

project, water purification, nanotechnology,

alternative energy resources etc.




62!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Reliance Capital Asset Management Limited

Middle Market; Mid Venture; Late Venture;

Later Stage

It is a subsidiary of Reliance Capital Ltd. Reliance

Capital Asset Management Limited was founded in1995 and is based in Ahmedabad, India.

Reservoir Investment Managers (India) LLP

It does not invest in traditional information

technology services. The firm seeks to invest intechnology sector with a focus on information

technology, software, products, services, and

applications targeting global footprint etc.


Growth

responsAbility Social Investment Services

Early Venture; Emerging Growth

It seeks to invest in the financial sector including

financial service providers, microfinance, fair trade,

independent media, SME financing, and social

venture capital. In microfinance, the firm seeks to

invest through loans, senior debt, and subordinated

debt. It primarily invests a minimum of $0.25

million.


Ryerson Futures Inc.

It prefers to invest in mobile and web based

companies, proprietary or first mover products,

backed by intellectual property, companies that

solve an expensive problem well, and other

software based technology companies. The firm

typically invests in GTA, Southern Ontario, and

India.




63!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Saama Capital Management

-

Saama Capital Management, Ltd. is a venture capital

firm specializing in investments in mobile, internet,IT services, financial services, healthcare, education,

retail and food & beverages sectors in India. Saama

Capital Management, Ltd. was formed in 2006 and is

based in Ebene, Mauritius.

Sage Capital Advisors

It is a PE and VC firm specializing in investments

in mid-market companies and real estateinvestments. The firm focuses on investing in

India. It seeks to invest between $5 million and

$15 million per deal. It was founded in 2008 and

is based in Mumbai,

-

Sandalwood Capital Partners


The firm prefers to invest in telecom; outsourcing

services with focus on business, engineering and

media; technology; and renewable energy. It focuses

on cross border investments into Asia and prefers to

invest in India and China. Sandalwood Capital

Partners was founded in October, 2006 and is based

in Bangalore, India

-

Sathguru Management Consultants, Investment Arm

The firm seeks to invest in energy, industrials,

environmental and facilities services, agricultural

products, and life sciences tools and services. It is

based in Hyderabad, India.




64!"#$& ' ( ) * + , - . /+ ( & / - , + / )


SBI Venture

-

SBI Venture is a principal investment arm of SBI

Capital Markets Limited specializing in pharmaceutical sector. It typically invests between $5

million and $10 million. SBI Venture is based in

India.

SEAF

The firm seeks to invest in media and

entertainment, construction materials, informationtechnology, clean and alternative energy,

agribusiness, food, tourism, energy, financial

services, specialized manufacturing, agribusiness,

life sciences, infrastructure related services etc.


Growth; Mature; Mid Venture; Late Venture

Secura Investment Management

-

It is a Shariah compliant venture capital firm

specializing in growth, privately negotiated equity,

and equity linked investments in unlisted or listed

companies. The firm seeks to invest in sectors related

to real estate activities. It prefers to invest in Kerala

including Kozhikode and Kochi.


Seedfund

The firm prefers to invest in internet, media,

mobile, telecommunications, retail, technology,

and consumer sectors. It focuses its investments

in companies based in India. The firm seeks to

invest between Rs.1 crore ($0.19 million) and Rs.

25 crore ($4.67 million) in each portfolio

company.




65!"#$& ' ( ) * + , - . /+ ( & / - , + / )


SGR Advisors Pvt. Ltd.

Early Venture

It is a private equity and venture capital investment

arm of Raisoni Group specializing in early stageinvestments. It invests in the education sector. It seeks

to invest in various growth sectors in India. SGR

Advisors Pvt. Ltd. was founded in 2008 and is based

in Mumbai, India.

Sicom Capital Management

Sicom Capital Management Private Limited was

incorporated in 1996 and is based in Pune, India.

-

SIDBI Venture Capital Limited


Mid Venture; Late Venture; Incubation

It focus in life sciences, clean technology, retailing,

light engineering, food processing, information

technology, infrastructure related services,

healthcare, and logistics and distribution, water and

sanitation, agriculture, and education sectors. It

invests in companies across India with a focus on

eastern states.



Siemens Venture Capital

The firm seeks to invest in technologies

particularly in industry, materials, automotive,

industrial solutions, digital technology, energy

and environmental care, cleantech, industrial

automation and control, industrial and public

infrastructure and cities including smart grid,

building technologies, lighting, mobility etc.




66!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Softbank China & India Holdings

Early Venture; Mid Venture; Late Venture

It prefers to invest in the internet, software, telecom

value added services, converged media,entertainment, and other industries leveraging

technology such as consumer oriented services,

healthcare, and financial services. The firm seeks to

invest in China, India, and Southeast Asia region

Srei Alternative Investment Managers Limited

The firm invests in infrastructure with a focus on

roads, power, urban infrastructure, airportservices, highways and railtracks, marine ports

and services, and telecommunication service

sector. It is based in Kolkata, India.

-

SRI Capital


It prefers investing in companies with no revenues, a

corporate spin-off team, or a family business. The

firm invests in companies in any industry. It typically

invests in companies based in India, the United

States, and the United Kingdom. The firm typically

invests between $0.50 million and $0.5 million in

companies with two year projections.


Standard Chartered Private Equity Limited

The firm typically, invests between $10 million

and $100 million in a single transaction, with a

preference for deals of greater than $25 million. It

prefers to acquire a board seat in its portfolio

companies. The firm prefers to acquire between

10 percent and 49 percent stake in its companies.




67!"#$& ' ( ) * + , - . /+ ( & / - , + / )


Startup Village


The firm typically invests in the telecommunications,

internet, and information technology sector; but willconsider companies outside of these domains. It seeks

to invest in India. The firm will invest between $0.01

million and $0.25 million in its portfolio companies.

It focuses primarily on student startups.

Subhkam Ventures

It invests in technology and information

technology, healthcare, finance, travel, leisureand tourism, alternate energy among others and

also in smaller infrastructure companies, and

investments in sectors being deregulated and

opened up for private investment/partnerships.

Emerging Growth

Summit Partners LLP


Market; Late Venture; Later Stage

It invests across all industry categories with a focus

on education, technology enabled oilfield product

and services, software, communications technology

and services, semiconductors and electronics,

gaming, leisure, Internet and information services,

energy, media and entertainment etc. In India, it

seeks to invests $10 million to $100 million.

Early Venture; Turnaround; Late Venture

Symphony Capital Partners

The firm prefers to invest in consumer sectors

including healthcare, hospitality, and lifestyle

sectors. It typically invests in companies based in

the Asia Pacific Region including India. The firm

seeks to be a lead investor in its portfolio

companies




68!"#$& ' ( ) * + , - . /+ ( & / - , + / )


TA Associates Management

Turnaround; Middle Market; Mature

The firm primarily invests in private companies

globally with a focus on technology, consumer andretail, energy, telecommunication, education, internet

and internet infrastructure, command control and

communication equipment, business to business,

consumer staples, computers, consumer services etc.

Tano Capital LLC

It prefers to invest across all sectors including

industrials, infrastructure, telecom, engineering,retail, insurance, life science, oil and gas, water

purification, cleantech, and pharmaceuticals. It

typically invests between $5 million and $25

million in companies.

Early Venture; Middle Market

Tata Capital Private Equity


Turnaround; Middle Market; Mature

The firm seeks to make investments in most sectors

including IT, engineering related to high-value IT

services, Construction,, healthcare, life sciences,

healthcare delivery, clean tech, pharmaceutical, autocomponents, automotive, manufacturing, agriculture,

financial services, logistics support etc. It typically

invests between $3 million and $200 million.

-

Tata Investment Corporation Ltd.

Its activities primarily include investing in long-

term investments in equity shares and other

securities of companies in a range of industries.

The company also distributes mutual funds andother investment related securities. Tata

Investment Corporation was founded in 1937.




69!"#$& ' ( ) * + , - . /+ ( & / - , + / )


TDA Capital Partners


The firm typically invests in companies based in

Israel, United States, Indian Sub- Continent, andCentral Europe. It seeks to invest from $7 million to

$50 million in its portfolio companies. The firm

prefers to take majority or significant minority equity

positions

Temasek Holdings (Private) Limited

It is sector agnostic with a focus on companies

engaged in the telecommunications and media, banking, real estate, financial services, property,

industrial, life sciences, transportation and

logistics, consumer and lifestyle, education,

energy and resources, power etc.


The Blackstone Group



It is a global investment with interest in diverse

industries across geographies.


Turnaround; Middle Market; Mid Venture; Late Venture

The Carlyle Group LP






70!"#$& ' ( ) * + , - . /+ ( & / - , + / )

Ve u e C p s d

The View Group

Middle Market

The firm prefers to make investments in middle

market companies engaged in the labor intensive business services sector. It typically invests between

$5 million and $20 million. It was founded in 1992

and is based in Boston, Massachusetts with an

additional office in Maharashtra, India.

Thomas Weisel Capital Management

Invests in emerging IT companies and focuses on

infras t ructure , appl ica t ions , secur i ty ,semiconductors, communications, storage,

wireless technologies, Internet services etc. It

seeks be the lead investor and make initial equity

investments between $2 million and $10 million.



TPG Growth


Market; Late Venture

The firm primarily invests in the technology,

internet , cleantech, consumer, satel l i te ,

communication, life sciences, biotechnology,

transportation, industrials, business services, energy,renewable energy, healthcare, media, and retail and

restaurant sectors. The firm prefers to invest between

$10 and $75 million in a company.


Market; Mid Venture; Late Venture; Later Stage

Trident Capital, Inc.

The firm focuses on information and business

services including outsourcing, financial, B2B

commerce, enterprise software, clean tech,

healthcare IT, IT security, adtech, mobile, cloudcomputing, software, software as a service,

Internet and mobility.




71!"#$& ' ( ) * + , - . /+ ( & / - , + / )

p

TVS Capital Funds Limited

Later Stage

It invests in diversified industries. It invests between

INR 250 million and INR 750 million in companieshaving revenues between INR 500 million and INR

2500 million. It was formed in September 2007 and is

based in Chennai, India with an additional office in

Mumbai, India.

Unilazer Ventures

Unilazer Ventures is a private equity and venture

capital firm specializing in early stage and latesate start-up investments in agriculture,

healthcare, education, and e-commerce sectors in

India. It is based in Mumbai, India.


Unitech Realty Investors


Market; Late Venture

Unitech Realty Investors is a real estate investment

arm of Unitech Ltd. It seeks to invest in

redevelopment projects in Mumbai. Unitech Realty

Investors is based in India.

Early Venture

Unitus Impact LLC

The firm seeks to invest in supply chain solutions,

agribusiness, mobile payments, microenterprise

financing tools, and microfranchising

opportunities. It seeks to invest in scalable businesses in India, China, and Southeast Asia,

particularly Vietnam and Indonesia.




72!"#$& ' ( ) * + , - . /+ ( & / - , + / )

p

Unitus Seed Fund LLC


It invests considering the BOP population. It typically

invests in a wide range of business sectors includinglivelihoods, education, agriculture, healthcare,

technology for development, basic necessities,

healthcare sanitation, ecosystem, clean energy,

innovative technologies, mobile, rural distribution etc.

UTI Ventures

It invests in software services and products, IT

e n a b l e d s e r v i c e s , s e m i c o n d u c t o r s ,communicat ions and networking, and

biotechnology companies. The firm invests in

companies based in India. UTI Ventures was

founded in 2000 and is based in Bangalore, India.


Utthishta


The firm typically invests in sectors including

software, technology, mobile, web, analytics, and

cloud computing. It primarily invests in India. The

firm seeks to invest between INR1 million ($0.02million) and INR2 million ($0.03 million) per

company in return of equity stake between 10

percent and 15 percent.

Seed/Startup; Early Venture; Middle Market;

Incubation; Later Stage

Ventureast Fund Advisors India Limited

The firm prefers to invest in technology and

technology-enabled sectors along with

biotechnology, healthcare infrastructure,

microfinance, agribusiness, biogas, pharma, food,retail, life science, clean technology, healthcare,

education, financial services, etc. The firm seeks

to invest in companies based in India.




73!"#$& ' ( ) * + , - . /+ ( & / - , + / )

p

Vertex Venture Holdings Ltd.



The firm prefers to invest in clean technology,

communications, information technology, consumer

& services, electronics and semiconductors,

healthcare, software, Internet, machinery and

equipment and its research and development, and

media.

Walden International

The firm seeks to invest in technology based

companies with a focus on telecommunication,

media, communications, emerging technology

and services, electronics and digital consumer,

software, information technology services,

financial services, Internet and digital media etc.

Warburg Pincus LLC





Emerging Growth; Turnaround; Middle Market;

Mature; Later Stage

Wolfensohn Fund Management,

The firm seeks to invest in financial services and

alternative energy resources. It prefers to invest in

emerging markets. The firm typically acquires a

minority stake.






74!"#$& ' ( ) * + , - . /+ ( & / - , + / )

p

YES Bank, Investment Arm

-

It prefers to invest in agricultural services, fertilizers

and agricultural chemicals, water purification,

agricultural machinery and equipment, food,

beverage, tobacco, clean energy, clean technology,

energy efficiency sectors, and alternative energy

resources.

YourNest Capital Advisors

The firm prefers to invest in education services,

marketing services, consumer staples, energy,

financial services, healthcare, industrials, e-

commerce, software, materials, utilities, and

telecommunication. The firm typically invests

between $0.57 million and $0.95 million.

Zephyr Management



The firm provides growth capital and prefers to

invest in SME in financial services, business

services, niche manufacturing, education, logistics,

agr i -business , packaging and label l ing,telecommunications, distribution companies,

environmental and facilities and services, travel and

tourism services, publishing, healthcare etc.

Early Venture; Mid Venture; Later Stage

Zodius Advisors India Private Limited

It seeks to invest in big data and analytics, digital

media, commerce, education, business and

information services, technology, internet, and

consumer internet. The firm typically invests incompanies based in India. Zodius Advisors India

Private Limited was founded in 2011 and is based

in Mumbai, India.


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