IVCA Announces Newly Elected Executive Committee

SUMMARY

While Ashley Menezes has been appointed as the chairperson of the EC, Sriniwasan Subramanian of Kotak Alternate Asset Managers has been appointed as the vice-chairperson

The executive committee will comprise 14 elected members and seven co-opted members and special invitees

To address the rise in the number of micro-VCs, IVCA launched an innovative industry-led peer-to-peer model of knowledge-sharing for first-time fund managers

Industry body for alternative assets Indian Venture and Alternate Capital Association (IVCA) has elected its new executive committee (EC) for the term spanning 2024 to 2026.

In a statement, the body said that Ashley Menezes of ChrysCapital has been appointed as the chairperson of the EC, while Sriniwasan Subramanian of Kotak Alternate Asset Managers Limited has been appointed as the vice-chairperson.

The EC will comprise 14 elected members and seven co-opted members and special invitees.

Commenting on the new EC, Menezes said, “The new Executive Committee at IVCA remains steadfast on enhancing the ease of investing, capacity building by mobilising domestic pools of capital, and maximising efforts to attract capital to India… With the support and collaboration of policymakers, this ‘techade’ will be imperative for the alternate capital industry to contribute to India’s journey towards its long-term goals.”

To this, Subramanian added, “The industry has evolved into a multi-asset class alternative investment avenue beyond private equity into private credit, real estate, infrastructure, etc. I look forward to continuing this momentum for the industry with the regulators while driving further growth and innovation in the alternate capital industry.”

According to IVCA, it influences the alternative assets management ecosystem through the following:

RBI Circular Dialogue: Secured balanced regulations for AIF growth through proactive engagement with government entities.
Self-Regulation and Code of Conduct: Championing responsible investment practices with proposed measures and a self-regulatory framework.
Quarterly Activity Reporting Format: Facilitated smooth industry adaptation to SEBI’s revised reporting format.
Expert Committee Formation: Established the Damodaran-led committee to highlight PE/VC’s economic impact and accelerate investments.
A comprehensive representation was prepared by the IVCA for the industry, addressing the issue of GST applicability to AIFs and the challenges surrounding carried interest for AIF managers, sponsors, and employees.

To address the rise in the number of micro-VCs, IVCA launched an innovative industry-led peer-to-peer model of knowledge-sharing for first-time fund managers who may struggle with understanding the nuances of investing, tax and legal compliance, and overall fund management.

Meanwhile, as per the claims of the IVCA, its Startup Angel Programme, in partnership with Startup India, has broadened the horizons for over 110+ angel investors across major Indian cities.

IVCA was also among the organisers of the recently-held ‘Startup Mahakumbh’, which brought together the entire Indian startup ecosystem.