#LPMeet2020
VCCircle India Limited PartnersSummit 2020
Feb 27, 2020 | Trident, Nariman Point, Mumbai
Days
Hours
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Introduction
India's Investment Story: An Insider View

Until a few months ago India had everything going for it. Despite the noise around global trade wars, India was basking in the glory of being the fastest-growing major economy. It had re-elected the ruling party to ensure policy continuity, the stock markets were at record highs and the pain of stressed assets had started to ease.

But the narrative has changed. Growth has slowed, consumer sentiment has turned sour, the stressed assets toxicity has spread from banks to the shadow banking system and an oil crisis is threatening to trip the economy further.

On the flip side, India remains investors’ darling. Although the stock market had corrected, it is now near its all-time high as the recent corporate tax rate cut has added fresh power to the bulls.

The number of active PE and VC investors has doubled in the last seven years to around 350 as per a VCCircle study. Bigger cheques from PE firms have catapulted overall alternative investment to $29 billion in the first nine months of 2019. At this pace, it is well poised to cross the peak of $32 billion clocked last year. Clearly, the private investment market is still red hot.

Not surprisingly, limited partners (LPs) are not just keen on building an exposure via general partners (GPs) but are also active with their direct investments in the market. LPs, especially sovereign funds from Singapore and Abu Dhabi besides Canadian pension funds and European development financial institutions, have invested directly or come as co-investors in 79 deals worth $10 billion in the first nine months of this year, according to VCCEdge. This seems set to surpass the mark of $12 billion across 112 deals in 2018.

At the same time, PE and VC funds are grappling with several challenges. Competition for deals has grown as fund management teams are getting spliced, SoftBank has emerged out of nowhere as a big-ticket PE-style investor and LPs are stepping in big time with direct investments. The entry of PEs and corporate houses at venture-stage deals has upped the competition for VCs. Concerns of a startup valuation bubble have returned while new GPs are finding it tough to raise funds.

To discuss the risks and how the overall alternative investor class is tackling the challenges, VCCircle is proud to announce the eleventh edition of its flagship thought conclave—the Limited Partners Summit 2020. It would bring together leading global and domestic LPs, GPs, entrepreneurs, investment bankers and other leaders from the deals ecosystem to look at the alternative investment opportunity in the country.

Agenda
  • Registration & Networking
    08:00 Hrs. onwards
  • Opening Address
    09:30 – 09:40 Hrs.
  • Keynote Address
    09:40 – 10:00 Hrs.
  • Panel Discussion 1: Portfolio balancing and risk management

    LPs have tried various mix of direct, co-investment and platform strategies to approach emerging markets like India. What is working best and why? With some LPs seeking more direct investments, what sort of risk management process have they put in place? How do LPs manage the potential conflict of interest while approaching direct deals with existing GP relationships in the same market?

    10:00 – 10:40 Hrs.
  • Panel Discussion 2: Due diligence: Under the scanner

    There is a constant talk about better alignment of interest between LPs and GPs. Is there a gap to be addressed in data sharing and disclosures by GPs? How is the LP due diligence process on GPs evolving? How are GPs imbibing the ESG goals of LPs? And is there a clear understanding on how to define, monitor and measure these goals?

    10:40 – 11:20 Hrs.
  • Networking over Tea/Coffee
    11:20 – 11:45 Hrs.
  • Panel Discussion 3: Managing fund extensions and secondaries

    Several PE and VC funds in India are living beyond their life cycles. What are the lessons from other markets in managing fund extensions and
    portfolio secondaries? Are GP-led secondaries ideal to hit the reset button?

    11:45 – 12:25 Hrs.
  • Panel Discussion 4: Portfolio diversification in alternatives by domestic LPs

    Unlike in developed economies, public markets and credit in emerging economies pose a challenge for GPs in competing for rupee capital from
    HNIs and corporate houses. Are GPs making the right product pitch to local investors? How do local LPs weigh the risk-reward ratio for
    alternatives compared to other asset classes?

    12:25 – 13:05 Hrs.
  • Networking Lunch
    13:05 – 14:00 Hrs.
  • Special Address 1
    14:00 – 14:20 Hrs.
  • Panel Discussion 5: Team economics and data exclusivity

    A clutch of PE and VC fund professionals have moved on over the last few years. In some cases, it is due to natural progression, but some cases also involved lopsided fund carry economics among team members. What processes need to be put in place to maintain team stability? Who owns
    the deal data and where should fund managers draw the line in claiming credit for a superstar exit from a past workplace?

    14:20 – 15:00 Hrs.
  • Panel Discussion 6: Venture hygiene check

    VC deal making in India is picking up pace again. How are VC funds dealing with renewed talk of a valuation bubble with some new ventures
    by successful entrepreneurs pocketing disproportionate sums? With SoftBank facing a reality check on the big cheques it has been signing
    down the years, what does it mean for the larger venture ecosystem from an exit lens? Are LPs keener to see specialised micro funds rather
    than larger-than-life sector-agnostic VCs?

    15:00 – 15:40 Hrs.
  • Networking over Tea/Coffee
    15:40 – 16:00 Hrs.
  • Special Address 2
    16:00 – 16:20 Hrs.
  • Panel Discussion 7: Credit- Failsafe gamble to firefighting

    The bad loans contagion is slowly spreading from banks to the shadow banking system. PE-backed and controlled credit platforms are also
    seeing signs of wild weeds. How should the credit game be played to ensure it doesn’t get out of hand?

    16:20 – 17:00 Hrs.
Speakers
Managing Partner, Evolvence India Fund
Director - Business Management, CPPIB
Senior Vice President, Portfolio Advisors
Head of Financial Centre Development, Abu Dhabi Global Market (ADGM)
Senior Investment Officer for Asia, Triodos Investment Management
LPs attending this year

International Finance Corporation

Evolvence India

DEG

Siguler Guff & Company, LP

Canadian Pension Plan Investment Board

Triodos Bank

Portfolio Advisors LLC

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How do I register?
Individual Ticket
40,000

Number of seats 1

Gold Package
105,000

Number of seats 3

Platinum Package
150,000

Number of seats 5

How was it last year?
Contact Us

Mosaic Digital

DELHI

17, Okhla Industrial Estate
Phase 3
New Delhi – 110020
Tel: +91- 011-49711180, +91- 011-68132900


MUMBAI

61-A, 2 North Avenue Maker Maxity,
Bandra Kurla Complex,
Bandra (East), Mumbai – 400051
Tel: 022-61456100


BENGALURU

No.43 Residency Road, Shanthala Nagar,
Ashok Nagar, Near Gateway Hotel,
Bangalore – 560025
Tel: 080-69405500

Thank you for your interest in VCCircle India Limited Partners Summit 2020.

You shall receive the invite shortly.

We look forward to seeing you.

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