Soham Avlani

It is often said that Impact investing does not deliver financial returns. At C4D Partners, we are proving this wrong. Our Fund 1 has already achieved a 51% DPI on the India portfolio within 6 years of fund life, delivering a robust IRR. We’re not just about investing for impact, but also prioritizing strong, sustainable financial returns. We carefully select companies that are cash flow positive and demonstrate a clear path to profitability within a couple of years of our investment. This has enabled us to keep our mortality rate under 20%, lower than the industry average. Our approach - We invest in early-growth stage companies that are well-governed and on a clear path to positive cash flows, and be there for the long haul. Our approach comprises not just capital infusion, but active involvement in fostering a culture of transparency, operational excellence and sustainable value creation. We position our investments for sustainability and success in an ever-evolving market. If you’re a startup or investor interested in partnering with us, or just curious to learn more, let’s connect. Mirakle Couriers, Ecotasar, LabourNet, Saahas Zero Waste, Aarohan , 1BRIDGE, Ananya Finance, Freyr Energy Services Pvt Ltd #VentureCapital #Startups #SMEs #GrowthCapital #InvestmentStrategy #C4DPartners

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A series where we highlight Gemba Capital's Portfolio companies' every week. Simple post - no gyaan and no bakwaas :) This week meet Pramod Rao and Abhishek Nalin from Threado AI Kamini Shivalkar Aditya Vargante Govind Lohia Vipul Rawal ↗️ ️Anupreet Singh 📈 Sujoy Chakravarty #meetourportfolio #earlystage #venturecapital #startups #tech #india #portfolio

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Impact Investors Council (IIC), recently released its report on 'India Impact Investment Trends 2023' at our India Room event in Singapore. In this short video, Divya Pinge, Head of Research and Varun Reddy, Asst Manager - Research & Programs, at Impact Investors Council (IIC), take you through a synopsis of the report. For your soft copy of the report, please write to us at : secretariat@iiic.in

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*News Headlines from Business News Agencies:* *Business Standard* 📝 Oil buyers, producers dialogue needed for market stability: Hardeep Puri 📝 India's semiconductor design sector booms despite Q2 hiring dip: Report 📝 Taj Gvk Hotels Q3 PAT jumps 39% YoY to Rs 17 crore 📝 SAT Televenture to acquire Tikona Infinet for Rs 669 cr in cash, stock deal 📝 Sebi allows MFs to invest in foreign funds with Indian securities exposure 📝 Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund 📝 Coal Minister urges CIL to boost production and reduce import reliance 📝 TechEagle launches eight drone hubs with healthcare partners across India 📝 Fitch affirms IIFL Finance's rating after RBI lifts ban on gold-loan biz 📝 October weather did not favour Ukraine's winter crops: Scientists 📝 Exide Industries Q2 result: PAT falls 13.66% to Rs 233.4 cr on higher costs 📝 UAE opens its annual oil-and-gas summit, pledges to increase output *Economic Times* 📝 CIL should prioritise augmenting coal production, supplies to reduce import: Minister 📝 Aptus has appointed Atul Jain as Managing Director and Chief Executive 📝 China's Haier Group plans JV with JSW Group envisaging Rs 1K cr investment 📝 BFSI office leasing continues to surge as digital growth points to new record in 2024 📝 India to emerge as a Global South leader in AI global governance: Abhishek Singh 📝 India re-elected as President of International Solar Alliance till 2026 📝 Bajaj auto domestic 2-wheelers sales dropped 8 pc in Oct (YoY), exports surge 22 pc 📝 Ashok Leyland total sales fell 9% to 15,310 units in Oct 📝 Bangladesh fast tracks payment to Adani Power after supply cut 📝 Welspun Corp gets Rs 1,300 cr pipe supply order in US 📝 India to revamp power demand forecasting for better planning 📝 Crystal Crop acquires I&B Seeds to expand vegetable, flower seed business *Mint* 📝 RBI likely selling dollars to support rupee amid equity outflows: Report 📝 IRFC Q2 Results: Net profit rises 4% YoY to ₹1,613 crore, revenue up 2% 📝 Indian rupee touches all-time low due to equity outflows from domestic market 📝 Lulu Retail Holdings expects to raise $1.43 billion from its Abu Dhabi IPO 📝 DLF’s New ‘Ultra-Luxury’ Project to Have the Costliest Apartments in India 📝 Reliance Jio IPO may hit Indian market in 2025: Report 📝 NBFCs brace for slower growth as asset stress, fund costs pinch 📝 Skillmatics likely to go for India listing in 3 years: CEO Dhvanil Sheth 📝 SBI Mutual Fund average AUM surges to record ₹11 lakh crore in Q2 📝 Bosch to cut over 7,000 jobs as it lowers growth forecast for 2024 📝 InCred plans insurance, mutual fund arms as it seeks to diversify offerings

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We at LeapFrog Investments are strong believers in the India story for impact investments. As I mentioned to Jaden, India has a lot of potential. It’s not a five-year story, it’s hopefully a 25-year story.... the reasons being growth, depth of talent, digital public infrastructure, and the depth of capital markets. Thanks to Jaden Paul for the interview in Business Standard. Read it here: https://lnkd.in/gyV-UTAv

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WhiteOak Capital Mutual Fund has launched its latest new fund offer (NFO), the 'WhiteOak Capital Digital Bharat Fund,' an open-ended equity scheme that focuses on technology and technology-related companies. The NFO is open for subscription till on October 4, 2024. The primary objective of the fund is to offer long-term capital appreciation by investing primarily in equity and equity-linked instruments of technology-focused companies. * Our reliance on technology continues to grow as we seek innovative solutions to everyday challenges.  * Technological advancements are revolutionizing business operations, driving efficiency and innovation across industries.  * In India, new-age businesses are leading 'Digital Bharat' by leveraging cutting-edge technology to enhance innovation, efficiency, and inclusivity. These agile and digital-first companies are transforming traditional industries with AI, ML, and IoT.  * They redefine customer experiences, streamline operations, and expand market reach. From fintech firms improving access to financial services through digital platforms to e-commerce giants reaching remote areas, these businesses play a crucial role in creating a connected digital economy.  * Advancements in cloud computing, data analytics, and automation further foster innovation in healthcare, education, agriculture, and logistics, contributing to the vision of ‘Digital Bharat’.  * The ‘WhiteOak Capital Digital Bharat Fund’ aims to capitalize on this trend by investing in technology and tech adjacent companies, aiming for long-term wealth generation. As India's digital economy expands, the fund is poised to leverage the evolving tech landscape, offering investors a pathway to benefit from ongoing digital transformation The WhiteOak Capital Digital Bharat Fund is designed to capitalize on the rapid growth of India’s digital economy. Here are some key reasons why it might be an attractive investment: Focus on Technology: The fund primarily invests in technology and tech-adjacent companies, which are expected to drive significant growth in India’s economy. Long-term Wealth Generation: By targeting sectors poised for expansion, the fund aims to generate long-term wealth for investors. Experienced Management: The fund is managed by a team of experienced professionals, including Ramesh Mantri, Trupti Agarwal, Dheeresh Pathak, and Piyush Baranwal, who bring a wealth of knowledge and expertise. Diversification: While the primary focus is on technology, the fund also has the flexibility to invest in other sectors, debt securities, and money market instruments, providing a balanced approach to risk and return. N J Fin Plan recommends to invest- Insure, based on your financial goals & risk appetite. To open E-wealth account with N J Fin Plan http://p.njw.bz/55096 N J Financial Planning Off No.15, Kappeesh Mall, Near Mulund Railway Station, M G Road, Mulund West, Mumbai 400 080 +98924 22480 / nilesh@njfinplan.com www.njfinplan.com

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Super stoked to announce the close of our third fund! Grateful to have been a part of the journey thus far. 🚀 🚀 If you are building in the consumer brand space, please reach out to us- we would love to have a chat. We invest in businesses at a pre-seed, pre-revenue stage with the ability to support our portfolio companies until growth/ late stages. #Fund3 #ConsumerBrands #EarlyStageInvesting #SauceVC #Startups  #Entrepreneurship #IndiaGrowthStory #PreseedInvestment #VentureCapital #Consumer

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A significant milestone on the Sarvagram journey and we are very excited to continue our support to the stellar team. When we invested in 2022, we saw a distinctive company which was serving an unaddressed segment in a very large market i.e middle class households in rural India. The narrative around rural financing has primarily focused on farmers and low-income populations. However, there's a huge gap in addressing the needs of the aspirational rural middle class—the 80-100 million households with annual incomes ranging from ₹3-5L, spread across multiple income sources. This demographic is eager to improve both their income levels and quality of life, yet their financial needs have often gone unmet. Banks and microfinance institutions have targeted agriculture or low-income women but the rural middle class is a large whitespace. Though they may have access to product financing like two-wheeler or car loans, a significant portion of their aspirations remains unaddressed. SarvaGram is stepping into this gap with a holistic, customer-centric platform that offers a diverse range of financial services—from lending products and farm mechanization solutions to insurance offerings — as opposed to a mono-line strategy, which we believe works better in denser urban markets. In addition to our thesis on rural lending, we have found working with the stellar team, led by Utpal Isser and Sameer Mishra, a collaborative and insightful partnership. Their exceptional execution and understanding of the rural market have enabled SarvaGram to create lasting impact and drive sustainable growth. It has been equally enjoyable to learn from their experiences and we truly appreciate the openness of team. We have also appreciated working with our co-passengers from #Elevar, #Elevation and #Temasek and look forward to the #Peak XV team. With this fundraise, SarvaGram is on track to continue its impressive growth trajectory and we are excited to be part of this journey of SarvaGram driving meaningful change for rural middle-class households. Utpal Isser SarvaGram Sreeraman V TVS Capital Funds #FundingSuccess #RuralIndia

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Excited to announce that we at Athera Venture Partners (formerly Inventus India) have secured a major capital commitment from HDFC AMC Select AIF FoF I Scheme for our ₹900 crore Fund IV. This milestone is particularly special as HDFC AMC, one of the most respected fund houses in India, joins a strong lineup of Limited Partners, including prominent Indian family offices and international foundations, who share our belief in backing bold entrepreneurs driving innovation. With this fund, we are committed to partnering with exceptional founders building category-defining companies in India across Consumer Internet, Enterprise Software, AI, and other emerging technologies. From this fund we’ve already made investments in promising startups like Ati Motors, Terra , ClickPost, CynLr, Hyperbots Inc., and Billion Hearts Software Technologies We are deeply grateful to HDFC AMC and all our LPs for believing in our vision and supporting our mission of enabling the Indian startup ecosystem. A big thank you to all the incredible founders, past and present, who have trusted us to be part of their journey—we wouldn’t be here without you. We’re excited about the journey ahead and look forward to backing many more transformative startups from India Read more about the announcement here: https://lnkd.in/gYC8Yk84 Samir Kumar Parag Dhol Rajiv Mehta Ishan Sinha Anshu Pandey Kavya Prudhvi Tanya Sequeira CA Kaushik A Mangala Jois #VentureCapital #Startups #TechInnovation #AtheraVenturePartners #HDFCAMC #Entrepreneurship

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I am going to take a session at the The Institute of Company Secretaries of India Thrissur Chapter, on the crucial topic of Fund Raising and Deal Structuring for Early-Stage Startups. We delved into: * Key strategies for securing funding * Understanding different investment instruments * Navigating complex deal structures * Financial, Legal and regulatory considerations It was a fantastic opportunity to connect with aspiring company secretaries, Chartered Accountants and Students . GHC Growth Lab CS Nikhil Israni CS Chinthana Nikhil George Pinto CA Anna Jain Jose #startup #fundraising #dealstructuring #ICSI #Thrissur #earlystage #entrepreneurship #investment #fundraising #dealstructuring #ICSI

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Sharp questions NISHA PODDAR and sensible answers from one of the most under-stated investors (with a stellar track record) Mukul Arora 👏 Elevation Capital have indeed set a high bar for private markets investing in India. No surprise that they are loved by founders, LP's and other stakeholders. At WaterBridge Ventures have had the privilege of working with #ElevationCapital on several company building journeys and it has been a lot of learning and fun. As Mukul said, fundamentally it's about backing high quality founders & companies, looking for the right levers (innovation vs. profitability depending on the stage), and re-tooling, evolving investment strategies as market structures and business models of success change in a fast evolving market like 🇮🇳. He makes it sound so simple. But it is - just the discipline of doing it repeatedly isn’t, that requires a different order of effort and skill. And that also separates the Midas touch investors from the common ones. Icing on the cake that #ElevationCapital folks are also as humble as they come 🎉

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Investor interest and growth witnessed by impact investing globally in the last decade have been robust. However, ambiguity exists regarding AIF vehicles addressing this space. Countering this, SEBI in India introduced Social Impact Funds (SIFs). SIFs are structured to invest in both for-profit and non-profit organisations. While we appreciate this thoughtful step toward strengthening the impact investing space in the country, there are certain questions that should be addressed to enable SIF to deliver optimal outcomes for all stakeholders. My latest article, co-authored by Ajay Raja (Senior Analyst, C4D Partners), raises these important questions and suggests changes that we believe will enhance the robustness and effectiveness of the SIF structure, ensuring a more balanced approach to social investment to generate impact combined with financial returns. Read the full article here: https://lnkd.in/gtgjWDhY #impactfund #socialimpactfund #impactinvesting #india #sebi #aif #sif #privateequity #venturecapital #investments #c4dpartners #wemindthegap

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iSAFE Notes In India: Significance And Advantages #iSAFE (India SAFE) is an adaptation of the SAFE (Simple Agreement For Future Equity) document. Commonly used for seed-stage funding, they allow startups to raise funds quickly without valuation complexity. #100X.VC, an early-stage investment firm in India was the first to introduce the iSAFE in India in July 2019. It entails an agreement to acquire equity shares of a startup at a later date. #An iSAFE note is not a debt instrument but a convertible security note beneficial for both startups and investors. #In India, iSAFE note takes a legal form of Compulsorily Convertible Preference Shares (CCPS) which are convertible on the occurrence of specific events. #They are governed by sections 42, 62, and 55 of the Companies Act, 2013 read with Companies (Share Capital and Debentures) Rules, 2014 and Companies (Prospectus and Allotment of Securities) Rules, 2014. #Issuing iSAFE notes does away with the valuation exercise since the valuation is essentially postponed to a later date (when the priced round happens) #An outstanding iSAFE note would be referenced on the startup’s cap table like any other convertible security. GHC Growth Lab #Startups #FundraisingStrategies ##StartupSuccess

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Crease lines have appeared on foreheads following a recent Securities and Exchange Board of India (SEBI) related article on the disclosure of #SideLetters ( in comments) This prompted me to advance my planned piece for the #LP Series In an AIF Trust (VC-managed fund), an LP's rights are akin to those of any shareholder, such as those in Reliance Industries Limited—every share purchased confers the same rights But does this equality hold true in the VC world ? Lets examine this proposed step by #SEBI ✅ What are #SideLetters? These are private agreements between : ✳️An LP and a VC firm ✳️'Advisors' and a VC firm ✳️Founding partner and 'Advisors' unbeknownst to other members of IC ! Categories of #SideLetters : ✳️Reasonable and Transparent: ✅LP #1 invests Rs 100cr in a fund and is charged a lower annual fee of 1.5%, compared to 2% for smaller LPs ✅Large LP #2 pays a performance fee (carry) of 10%, while smaller ones pay 20% These terms are executed with the AIF trust ( where LPs pool their monies) and are reflected as different unit classes in the #PPM registered with SEBI and shared with all LPs. No problems with these ✳️Doubtful and Opaque : ✅Managing Partner of VC Fund A invests in VC Fund B personally. When VC Fund A invests in a portfolio company of Fund B marking it up, could this lead to a conflict of interest ? 😑 ✅Partner of a Global VC A holds a 10% share of Carry in VC Fund B as part of an engagement letter, which involves promoting Fund B in influential circles they move around in ! This Partner is not on their website or fund pitch deck 😶 ✅An LP lodges a complaint via SCORES due to material changes, and the VC firm signs a #SideLetter capping their commitment incl a confidentiality clause Unlike the #transparent contracts executed with the AIF trust ( under purview of SEBI), these are made with the VC firm (LLP or Pvt Ltd company) to escape disclosure requirements, leading to ✳️Non-disclosure or incomplete disclosure ✳️Conflicts of interest ✳️Misuse of fees and expenses ✳️Changes in investment conditions As the industry evolves, with increasing funds, LPs, and employees, SEBI's latest move to enhance disclosure and protect LP interests is commendable It aims to professionalize and truly Institutionalise the sector, bringing it closer to the standards of Public Mutual Funds #LPs evaluating VC firms or questioning their current ones should consider this key question: ✅ Can you share all #sideletters executed by your VC Firm entity with any LP/ Advisor / Fund Manager/ Any other person that have a bearing on the deployment of my Funds ( incl incentives to team) and its returns ? ✅ Did any member of the IC/ Key persons/ Designated partner of the VC firm purchase any shares of any folio company or any other Fund under their name or their related parties, without making a full disclosure and permission from LPs ? #transparency #VCreset2024 #venturecapital #governance

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A quick reference sheet for all major SEBI licenses - by Shashank Gupta from Gemba Capital Can be handy for some founders planning to build in Fintech. Check it out and save it.

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A series where we highlight one of Gemba Capital's Portfolio companies' every week. Simple post - no gyaan and no bakwaas :) This week meet Raghu Sankar M P and Shankara K S from HighXP Kamini Shivalkar Aditya Vargante Govind Lohia Vipul Rawal ↗️Anupreet Singh 📈 Sujoy Chakravarty #meetourportfolio #earlystage #venturecapital #startups #tech #india #portfolio

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