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India Venture Capital and Private Equity Report 2014<br />

Table of Contents<br />

Table o f Contents<br />

List o f Tables<br />

List o f Figures<br />

Contributo rs<br />

Edito rial adviso ry bo ard<br />

Edito rs’ Note<br />

(i)<br />

(ii)<br />

(iii)<br />

(iv)<br />

(vi)<br />

(vii)<br />

1. The lan dscape of Institution al LPs investing in India 1<br />

Thillai Rajan A. and Somaj Bandyopadhyay<br />

2. The State as a Limited Partner 20<br />

G. Sabarinathan<br />

3. Public investment in venture finance:<br />

Case for a State sponsored Start -up Fund 32<br />

Arumugam Aramvalarthanathan<br />

4. The b lossomin g of Start -up Ecosystem in India:<br />

Fund ing challen ges and the role of academ ic incubator s 45<br />

Ashok Jhunjhunwala, Tamaswati Ghosh, and Suma Prashant<br />

5. Domestic Family Offices, High Networth Individuals,<br />

and Retail investors as LPs 55<br />

Suraj Srinivasan and Thillai Rajan A.<br />

6. Ultimate recip ien ts of the LP capital: An analysis of the<br />

investee companies 66<br />

Thillai Rajan A. and Somaj Bandyopadhyay<br />

7. LP p ersp ectives: The experience and outlook 81<br />

Thillai Rajan A.<br />

EXHIBITS<br />

1. Indian Insur ance Comp anies as Limited Par tner s 16<br />

Smitha Hari<br />

2. Pension Fun ds and Un iversity Endowments as LPs:<br />

The Ind ian Context 28<br />

Zubin Nayak<br />

3. Indian Commercial Ban ks as Lim ited Partner s 41<br />

Smitha Hari<br />

4. Public mar kets as a sou rce of venture capital:<br />

The case of Future Ventures India Limited 52<br />

Denila Jinny<br />

5. LPs as d irect in vestors 64<br />

Somaj Bandyopadhyay<br />

6. Returns from VCPE in vestments:<br />

A clar ion call for per for mance 78<br />

Thillai Rajan A., Somaj Bandyopadhyay, and Prateek Sri<br />

© Indian Institute of Technology Madras (i)

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