VCCircle LP Summit

Join 16 Years of Shaping India's Private Market

For over a decade and a half, the VCCircle LP Summit has been the meeting ground for India's most influential LPs, GPs, and industry leaders. It's where industry trends are defined, investment strategies are forged, and the future of Indian private capital is shaped. Secure your place among the leaders driving India's growth story.


Theme 2025

The global economy is projected to stay put at 3.2-3.3% growth in 2025, the same as the current year and what it had clocked in 2023, according to IMF. This calls for high fives as it means the concerns of a ‘hard landing’ may turn out to be just a red herring. But the escalation in geopolitical tensions in two major oil producing regions (Russia and Middle East) continues to hang as a Damocles’ sword.

Amidst this, the Indian juggernaut continues to gallop as the fastest growing major economy and is projected to grow at twice the global growth rate. The robust domestic economy is proving its resilience to even elevated crude oil prices and despite the flashpoint in the Gulf, public market benchmark indices are barely below their all-time peaks. Pundits have been talking about India being on a long-run bull run or an economic super-cycle.

While a whole host of companies are going public to capitalise on the buoyant sentiments, private capital via venture capital, private equity and private credit continues to unlock value in the startup ecosystem and growth stage ventures while also chasing mature companies that are already local and international champions such as such as Haldiram’s, enjoying tags worth billions of dollars.

Limited Partners (LPs) have been bullish about alternatives as an asset class with their total commitment for India focused funds crossing the $120 billion mark as of June 2024, of which around $80 billion is the dry powder waiting to be deployed, as per data compiled by VCCircle based on official statistics. And this does not capture global PE giants who invest big sums out of their regional and global investment vehicles. This shows the total sum available to be deployed in India Inc is around $100 billion or still higher.

This has been a result of hundreds of success stories in the country with PE-VC investors generating high returns, even beating the meteoric rise of the public markets, while also adding a touch of risk diversification that is not shaken by day to day sentiments, but anchored on visibility about disruption and long term growth prospects.

To deliberate on how the Indian alternative investment ecosystem is evolving and how can LPs collaborate with GPs and other stakeholders to generate super-sized returns from companies in the country, VCCircle presents the 16th edition of its flagship annual thought leadership and networking event for LPs, GPs and rainmakers in the deals ecosystem.

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


Agenda

8:30 AM onwards
  • 8:30 AM – Onwards

    Registration

  • 9:15 AM – 9:20 AM

    Opening Address

    • Anitesh Dharam, Business Head, VCCircle
  • 9:20 AM – 9:25 AM

    Welcome Address

    • Mohamed Sharaf, Chief Operating Officer - FDI, Dubai Department of Economy & Tourism
  • 9:25 AM – 10:00 AM

    Evolving Dynamics in the LP-GP Engagement in India

    How have LP-GP relationships evolved over the years, and what are the key factors driving these changes? What are the peculiarities in relationships with first-time vs. mature GPs? How are GPs managing expectations around fees and carried interest in the current market? How do tax and regulatory changes affect investment decisions and relationship stability? How does GP team stability influence the relationship's long-term success?

    Speakers:

    • Jay Gandhi, Partner, SAM & Co
    • Sunil Mishra, Partner, Adams Street
    • Padmanabh Sinha, Executive Director & CIO-Private Equity, NIIF
    • Moderator: Aman Malik, Senior Editor, VCCircle
  • 10:00 AM – 10:20 AM

    Multi-family offices - rewriting the LP strategy

    HNIs are no longer satisfied with being passive LPs and want a deeper engagement with funds and portfolio cos. Family offices are helping them innovate their approach and thought process.

    • Speaker: Bhaskar Chaudhry, Director- Investment & Corporate Advisory, Entrust Family Office
    • Moderator: Anitesh Dharam, Business Head, VCCircle
  • 10:20 AM – 10:45 AM

    Distribution models to align LP-GP interest

    The long lock-in period for getting returns from alternatives has long been a bane for LPs. But the opening up of various exit options has changed the dynamics allowing GPs to push up their DPIs long before the closure of the fund. What distribution structure and model provides the right balance for LPs to get the principal back sooner while also allowing GPs enough flexibility to manoeuvre the portfolio construct and time the exits better?

    Speakers:

    • Ajit Kumar, Managing Partner, Evolvence Fund
    • Navjot Kaur, Director, Epiq Capital
    • Moderator: Siddhant Mishra, Principal Correspondent, VCCircle
  • 10:45 AM – 11:00 AM

    Keynote Address

    • Ananth N G, Whole Time Member, SEBI
  • 11:00 AM – 11:20 AM

    Networking Break

  • 11:20 AM – 11:45 AM

    Touch of India Inc in alternatives

    Corporate treasury heads still bank on more conventional investment tools to manage the pile of profit. This has to do with liquidity of those investments. But some companies have opened their purse strings to PE-VC funds to park a small proportion of their current investments. How do profit making corporates look at the alternatives asset class and how can GPs make it more attractive opportunity for this largely untapped LP universe?

    Speakers:

    • Rahul Bhuskute, CIO&EVP, Bharti Axa
    • Sharad Malpani, Director, VC Investments, ICICI Venture
    • Moderator: Aman Malik, Senior Editor, VCCircle
  • 11:45 AM – 11:55 AM

    Special Address (ESG & Sustainability Quotient)

    • Dr. Nishanth Dongari, Founder & Managing Director, PURE
  • 11:55 AM – 12:20 PM

    ESG & Sustainability Quotient

    Companies that adopt ESG principles as part of core business, often experience improved operational efficiency, cost reductions, and increased investor interest due to their long-term risk management capabilities. How can commercial grade returns be twined while meeting deep ESG impact to crowd-in and attract larger pool of capital as a catalyst? What are the success stories from different geographies? How are entrepreneurs trying to create solutions to environmental challenges? How can prioritizing ESG lead to scalable business models that benefit both investors and the world?

    Speakers:

    • Srini Nagarajan, Managing Director and Head of Asia, BII Group
    • Diane Jegam, Regional Director, Proparco South Asia
    • Handhi Kentjono, Co-CEO and Founder, Manna Agribio
    • Philippe Micone, Founder, Noovoleum
    • Moderator: Prithvi Durai, Senior Correspondent, VCCircle
  • 12:20 PM – 1:20 PM

    Networking Lunch

  • 1:20 PM – 1:25 PM

    Special Address

    • Rajmohan Krishnan, Principal Founder & MD, Entrust Family Office
  • 1:25 PM – 1:55 PM

    Case for Credit

    Equity market has been on a bull run, barring current correction phase, sponging out capital from LPs. Is there a case for Private Credit beyond the risk diversification strategy? As the world is headed towards a lower interest rate regime in the near term what does it mean for GPs with credit as an investment strategy?

    Speakers:

    • Shilpa Mankar Ahluwalia, Partner, SAM & Co
    • Anoop Tulsyan, Group CFO, Ashok Goel Family Office
    • Rakshat Kapoor, CIO, Modulus Alternatives Investment Managers Limited
    • Amit Kansal, Head, Alternate Investments - Fixed Income, Aditya Birla Sun Life AMC Ltd.
    • Moderator: Ajay Ramnathan, Senior Correspondent, VCCircle
  • 1:55 PM – 2:25 PM

    Lure of real assets

    Real assets presents both the assurance of a physical estate and a long term value creation of an infrastructure property. How do LPs look at real estate and infrastructure that come with their own nuances? Has the income generating assets been a success story for LPs looking at diversification from actual ownership of buildings and land? How have REITs and InvITs added more spice to the mix?

    Speakers:

    • Vishesh Narang, Co-Founder of VNAM, Head Of Family Office at UKPI(Promoter of Berger Paints India)
    • Sunil Dhall, CFA Investment Management, Al Rajhi Ekhwan Group
    • Moderator: Aman Malik, Senior Editor, VCCircle
  • 2:25 PM – 2:30 PM

    Report Release

  • 2:30 PM – 3:00 PM

    Family offices stepping up their gear

    How are family offices changing gears with their alternative asset allocation? With direct and co-investments as important part of deployment strategy, how is the playbook evolving for established and new family offices?

    Speakers:

    • Vishnu Amble, Director, GreenBear Group LLC
    • Rajesh Ranavat, Executive Director, Fung Strategic Investments
    • Nilang Jain, CIO, GreenGen Family office
    • Moderator: Prithvi Durai, Senior Correspondent, VCCircle
  • 3:00 PM – 3:20 PM

    Risk diversification playbook with The Gulf Tiger

    Geographic risk diversification is an essential part of portfolio construction for Indian family offices and Dubai has emerged as a major investment hub for Indian investors due to its strategic location, tax benefits, ease of doing business, and a stable governance with robust regulated financial ecosystem. This straddles various elements, be it a destination for investment in real estate, crypto, or startups focusing on MENA as a market and also a window for investing in the West via setting up legal structures at DIFC. How can family offices look beyond these elements to gain?

    • Speaker: Mohamed Sharaf, Chief Operating Officer - FDI, Dubai Department of Economy & Tourism
    • Moderator: Anitesh Dharam, Business Head, VCCircle
  • 3:20 PM – 3:50 PM

    Networking Break

  • 3:50 PM – 4:10 PM

    Faceoff

    Captive vs indie funds; Generalist vs specialist funds, what works for LPs and what do they prefer?

    • Speaker: Deepak Padaki, President, Catamaran
    • Moderator: Prithvi Durai, Senior Correspondent, VCCircle
  • 4:10 PM – 4:40 PM

    Fund of funds in India

    How are they finding their ground in India’s LP landscape.

    Speakers:

    • SP Singh, CGM, SIDBI
    • SS Acharya, CMD, NSIC (SRI Fund)
    • Sandeep Sinha, Co- founder, Oister Global
    • Moderator: Siddhant Mishra, Principal Correspondent, VCCircle
  • 4:40 PM – 5:10 PM

    Venture Capital Playbook for LPs

    Traditionally LPs have banked on VCs for building exposure to startups. However, many family offices have tasted success via outsized gains from a few star performers in India. Many family offices now have a clear allocation for investing in startups directly. How can LPs at large and family offices in particular work the jigsaw puzzle of having such ventures in the broader portfolio? How to balance the direct and indirect VC investments and where does venture debt fit in the overall pie?

    Speakers:

    • Shuchi Kothari, Director, DSP HMK Holdings Pvt Ltd
    • Nitesh Aggarwal, CIO, Baldota Family Office Fund
    • Nitin Thakor, CEO, Thakor Family Office
    • Devashish Khanna, CIO- Private Market Investments, Capri Global Family office
    • Moderator: Malvika Maloo, Senior Correspondent, VCCircle

Awards'25 Jury

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Gaurav Dalmia

Chairman, Dalmia Group Holdings
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T K Kurien

Chief Executive Officer, Premji Invest (PI)
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Hemal Mirani

Managing Director (Singapore Team), HarbourVest
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Srini Nagarajan

Managing Director and Head of Asia, BII Group

Speaker's 2025

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Ananth N G

Whole Time Member, SEBI
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Deepak Padaki

President, Catamaran
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Srini Nagarajan

Managing Director and Head of Asia, BII Group
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Mohamed Sharaf

Chief Operating Officer - FDI, Dubai Department of Economy and Tourism
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Sunil Mishra

Partner, Adams Street
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S. S. Acharya

CMD, NSIC (SRI Fund)
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Rajesh Ranavat

Executive Director, Fung Strategic Investments
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Vishnu Amble

Director, GreenBear Group LLC
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Ajit Kumar

Managing Partner, Evolvence India Fund
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Sandeep Sinha

Co-founder, Oister Global
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Saravana Kumar

Board of Director & Chief Executive Officer, NSIC Venture Capital fund
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Nilang Jain

CIO, GreenGen Family Office
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Navjot Kaur

Director, Epiq Capital
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Satya Prakash Singh

Chief General Manager, SIDBI
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Vishesh Narang

Co-Founder of VNAM, Head Of Family Office at UKPI(Promoter of Berger Paints India)
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Rajmohan Krishnan

Principal Founder & MD, Entrust Family Office
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Diane Jegam

Regional Director, Proparco South Asia
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Rahul Bhuskute

CIO, Bharti AXA Life, Insurance Co ltd
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Jay Gandhi

Partner, Shardul Amarchand Mangaldas & Co
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Shilpa Mankar Ahluwalia

Partner, Shardul Amarchand Mangaldas & Co
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Sunil Dhall

CFA-Investment Management, Al Rajhi Ekhwan Group Co.
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Handhi Kentjono

Co-CEO and Founder, Manna Agribio
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Philippe Micone

Founder, Noovoleum
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Padmanabh Sinha

Executive Director & CIO-Private Equity, National Investment and Infrastructure Fund (NIIF)
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Bhaskar Chaudhry

Director - Investment & Corporate Advisory, Entrust Family Office
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Anoop Tulsyan

Group CFO, Ashok Goel Family Office
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Shuchi Kothari

Director, DSP HMK Holdings Pvt Ltd
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Amit Kansal

Head, Alternate Investments - Fixed Income, Aditya Birla Sun Life AMC Ltd.
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Dr. Nishanth Dongari

Founder & Managing Director, PURE
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Nitesh Aggarwal

Chief Investment Officer, Baldota Family Office Fund
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Nitin Thakor

CEO, Thakor Family Office
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Rakshat Kapoor

Head - Private Credit & Chief Investment Officer, Modulus Alternatives Investment Managers Limited
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Devashish Khanna

CIO- Private Market Investments, Capri Global Family office
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Sharad Malpani

Director, Venture Capital Investments, ICICI Venture

LPs Attending This Year


Korea Investment Corporation (KIC)

Catamaran (N R Narayana Murthy-Infosys)

BII Group

Adams Street

 


NSIC

Fung Strategic Investments

National Investment and Infrastructure Fund

GreeanBear (Single Family Office)

 


Evolvence India Fund

SIDBI

Greengen family office

Oister Global

 


Proparco

UKPI Family Office

Sen Family Office

Bharti AXA Life Insurance Company Ltd

 


Al Rajhi Ekhwan Group Co.

Mirabilis Investment Trust (K Dinesh-Infosys)

Ashok Goel Trust

DSP (Hemendra Kothari FO)

 


Baldota Family Office (MSPL)

Thakor Family Office (GeBBS)

Randev Ventures

Capri Global Family office

 


Tanas Capital

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