Few angels have seen exits; till that happens, they won't be rushing to invest again.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
Jaitley assured that both the banking system and the government will make the resources available to them.
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
CBDT circular issued last month had raised multiple taxation concerns.
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
The recent pullout by ICICI Venture and Citigroup Venture from a three-year-old drug discovery partnership with Dr Reddy's Laboratories points to angel investors' growing aversion to risk in pharma and biotech firms, say experts.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
On October 27, the Reserve Bank of India had allowed start-ups to borrow up to $3 million or around Rs 20 crore a year either in rupees or any convertible foreign currency.
VCs also do not want to under-finance companies and are ensuring that the current capital infusion takes them through at least 18-24 months, which is the expected time when the outside fundraising environment starts to recover, says Alok Mittal.
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The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
IT body Nasscom has helped four start-ups raise funding of Rs 40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
The Indian economy has witnessed the creation of 28 unicorns, or startups valued over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said. Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
There were fewer Series-B deals this year versus last, but more money was raised
For the first time in 21 years, the Reserve Bank of India (RBI) will revise norms for investment portfolios of commercial banks to reflect changes in global standards on valuation and measurement, and progress in the domestic market. This could pave the way for banks to transition to the new accounting standards (Ind-AS). The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year.
Renuka Ramnath is credited with raising the India Advantage Fund Series II, the country's largest private equity fund till date with a corpus of $810 million.
Venture capitalists (VCs) invested around $928 million (around Rs 3,700 crore) in 80 India-based firms during 2007 -- a 166 per cent increase over the $349 million invested in 36 deals in 2006 --, according to the latest quarterly India Venture Capital report published by Dow Jones VentureSource.
Union Home Minister Amit Shah on Sunday accused the opposition Congress of harassing and insulting the Other Backward Classes during its rule at the Centre, and asserted that it was the Bharatiya Janata Party that gave the first OBC prime minister to the country in the form of Narendra Modi.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India.
With 16 start-ups gaining unicorn status in 2021, India's tally has touched the 50 mark. The newest entrant to this list include Pune-based MindTickle, which is close to finalising a $100-million funding round from Softbank's Vision Fund 2, taking the company's valuation to $1.1 billion.
The country's two venture capital firms, Anil Ambani Group's Reliance Technology Ventures and Nexus India Capital, have been named in the Red Herring Top 100 Global Venture Capitals.
Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
The Tata Sons' chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
Texas Pacific Group, the global private-equity fund, which manages around $20 billion, has named former Intel Capital managing director Varun Kapur to lead its investments in India effective this week.
While industry is upbeat, start-ups in the space sector are finding it difficult to cater to the demand due to a lack of funding, issues related to policy like foreign funding, intellectual property, etc, and a lack of support in testing.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
The Qatar Investment Authority deal follows Byju's raising money from the Canada Pension Plan Investment Board, which was also the first direct investment by the Canadian pension fund in an Indian start-up. In March, Byju's had raised $540 million at a valuation on $5.4 billion, making it the most-valued ed-tech company in the world.
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