At the recently concluded VCCircle Limited Partners Summit 2021, Jaideep Mehta, CEO, Mosaic Digital – An HT Media Group Company, moderated an invigorating panel discussion with eminent leaders of the alternative investment industry - Puneet Nanda, Managing Director and CEO, ICICI Venture, Jacob Chiu, Managing Director, HQ Capital Asia Limited and Chris Loh, Managing Partner, Axiom Asia Private Capital.
While ‘the new normal’ has been an overtly used term in the post-pandemic world, we take a look at what this means for alternative investments in India, especially in terms of how Limited Partners are viewing and responding to the constantly evolving market conditions.
Jacob Chiu opined that India is an attractive yet challenging ecosystem for an LP primarily because of slow exits; Chris Loh shares that the COVID-19 situation has hit India harder that some of the other countries but the silver lining is the euphoric public market that has seen a strong rebound globally, which could highly benefit Indian companies looking to give their investors an exit opportunity.
Puneet Nanda says that despite the challenges of 2020, there has been a lot to learn. The year reemphasized the need to stick to basics, i.e., irrespective of market conditions and cycles, the basic job of finding the right companies with the right management, governance, outlook and optimistically, the right outcomes remains the same. In investing, asset allocation plays a crucial role and that got intensified further. At the same time, it reinforced the need to be nimble, proactive and not take things for granted.
Overall, Nanda’s view, a year down the line since the pandemic struck is that India has managed the scenario reasonably well. And going back over the last decade, the AIF industry has accounted for $250 bn of long term sticky capital for India.
Watch the video to know more on how the alternative investment opportunity in India is shaping up towards ‘the new normal’.
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