Instructions for the Principal

1 Before the meeting starts ensure that everyone has made their submissions and you have received those on your w
2 During the meeting your job is to consolidate your teams answers
3 Go through each question one by one
4 At every question ask - your associates if they were able to find answers to those questions, and if they faced any d
5 If there was any difficulty faced, open the floor to suggestions on how it could be solved
6 If doubt persists make a note of the question and ping the TA or the instructor
7 Weed out the answers that the group thinks are incorrect answers
8 Before weeding out the answer, give the option to the person whose answer is being rejected and have proper cou

Instructions to associates
1 You must ensure that Principal has also made a submission
2 Associates must help the Principal follow the above protocols of the meeting, and point out if any protocol is misse
have received those on your whatsapp groups

stions, and if they faced any difficulty answering it

rejected and have proper counters to it

nt out if any protocol is missed

Checklists for discussions

1 Answers must be tabulated with the columns defining the name of the VC firm, Total Fundraise and supporting ne
2 Ensure the constraints for the definition of competition
3 Answers must be tabulated with the right columns
4 Ensure that the reasoning for the decision is sound

5 Have a small discussion around the general information on the companies listed in the table
6 Ensure reasoning behind why you think they are notable professionals
7 Ensure reasoning behind the salary estimate
8 Ask for reference on data
l Fundraise and supporting news articles
Consolidate all the tables as per their respective questions below

Team Number 12
Principal Name Anoushka Gupta
Associate 1 Ayanna Gupta
Associate 2 Prasad Moharir

Link to the recording of the meeting: https://vimeo.com/555099092/8a1e68e922

Space for answers below

A1.
Mumbai: India-focused venture capital funds raised $3 billion in 2020, the highest in the last five years and around 40% mo
Sequoia Capital, Elevation Capital, Falcon Edge and Lightspeed Venture Partners, Fireside ($118 Mn), Alteria Capital ($179)
Most major funds closed in H1 2020, continuing from the strong momentum from 2019,” it said.

(Fig 1. High increase in Fund raised in FY2020)

A2.
Name Range
Name Range($)
Kae Capital 50K-2.5mn
Kalaari Capital 1-5 mn
Ojas Venture Partners .25-3mn
accel partners 0.5 mn - 50 mn
sequoia capital india 100K- $10
nexus venture partners 0-0.5 mn -10
blume ventures 0.05 mn – 0.3 or 0.5 mn to 1.5 mn.
Orios Ventures 0.1- 4 mn
Better Across preseed-seed-early stage A
Fireside 68 K- 2.75 mn
Chiratae < 5 mn
Pravega 250 K - 1 mn
Prime Venture Partners 700 K - 1.7 mn
Guild Capital 0.025 mn - 50 mn
Stellaris 1 mn - 10mn
Unicorn India Ventures 100 K - 1.4 mn

A3. In both:
Baidu, Blume Ventures, Unbound, Matrix Venture Partners, Venture Highway LLP, Stellaris, Kalaari Capital, Nexus, Chiratae
Deep Tech- Pi, Parampara, Kae, Ojas, Ankur Capital, Unicorn India Ventures
Consumer brands- Fireside, Lightspeed, Bessemmer, Menlo, U.S. Venture Partners, SAIF

A4
It will vary depending upon the stage of investment. If the firm only does seed funding they can invest in around 10 com
In early stage companies we can invest more around $3 mn, but depending on the product with competitive edge, size of t
The probability is only 5% of a good early stage companies with an amazing idea having potential of 3x returns or unicorn i
Totally around 12 deals

A5.
Traditional/Alternative Company Name
Traditional Barclays
Traditional Goldman Sachs
Traditional Deutsche Bank
Traditional FinMechanics
Traditional JP Morgan Chase
Alternative Ishana Capital
Alternative Scion Asset Management
Alternative Nexus
Alternative Omdiyar
Alternative SAIF partners
Alternative ACCEL partners
Alternative Innoven capital
Traditional Futures First
Alternative bertelsmann india investments
Alternative Tencent
khosla venture alternative
White Unicorn Ventures alternative
Unitus Seed Fund traditional
unicorn India Ventures alternative
foundry alternative
vishuddha capital alternative

A6.
Notable people
Mahendra Ramsinghani investor, entrepreneur
Marc Andreessen Practisioner
Bill Gurley Practisioner
Sajith Pai Practisioner, Blume Venture
Vani Kola Practisioner, Kalaari Capital
Fred Wilson Co-founder, Union Square, NYC
Peter Thiel Co-founder, Playpal
G Sabarinathan Academic IIM Bangalore
Nitin Deshmukh Founding Managing Partner, Kotak
Alok Mittal Founding Angel Network
Thillai Raja A Academic, IIT Madras
Ajay Muttreja Govt MSME ministry strategy adviser and Mentor
Sumir Walia Director CEED (Centre for Entrepreneurship Development
Renuka Ramanath Chairperson, Indian Private Equity and Venture Capital Association
Vinod Khosla Sun Microsystems, Khosla Ventures
A7.
1. Orios 23 employees
Anup Jain Managing partner
Rehan Yar Khan Managing partner

2. Prosus Ventures 28 employees

Priyanka Chopra Head, Finance
Ashutosh Sharma Head, Investments
Estimate the salaries of the team members
Anup Jain, Rehan Yar Khan Partners(5) so revenue / 5

Ashutosh Sharma, Priyanka India (3) so revenue/3

TMV Soraya Darabi

B Capital Howard Morgan
1982 Ventures Herston Powers
Kalaari Capitals:-
Mandar Dandekar:- Mandar holds an MBA (Finance & Strategy concentration) from Goizueta Business School at Emory U
He has diverse experience in venture capital & private equity, technology consulting and business development.
He is currently an investment professional with Kalaari Capital, a venture capital firm investing in early stage technology orie
Prior to Kalaari, he was a part of a US$ 60 Mn sector agnostic venture capital fund (Tata Capital Innovations Fund) manage

At Tata Capital, he was a key member of the founding team responsible for conceptualizing, structuring and raising the fun
He has made multiple investments globally across different sectors.
He has also worked in technology consulting in USA and India with Cognizant Technology Solutions where he led numerou
He began his career with Tata Power Company Limited (Strategic Electronics Division) where he built complex software ap
At Kalaari, Mandar focuses on consumer internet, healthcare, logistics, gaming and supply chain.
He has been involved in several high impact companies such as Myntra, Dream11, Elasticrun and Visionary RCM.

Kartik Nageswaran:- Karthik is an accomplished finance professional with over 25-years of experience across multiple ind
Karthik over the last 12 years has handled a wide range of activities for the firm including fund-management, fund-governan
Prior to joining Kalaari, he was the finance controller at Flextronics, one of the largest EMS companies and has worked in v
He is driven by growth of the ecosystem, which requires him to be very innovative and find newer ways to expand engagem
He constantly develops processes that can help the partnership be more objective in their decision making through extensiv

Elevation Capital:-
Mukul Arora:- Mukul is a Partner at Elevation and focuses on early stage investments in consumer-tech and SaaS. Before
His portfolio includes FirstCry, Meesho, Spinny, Swiggy, Unacademy and XpressBees
Mukul is an alumnus of NSIT and IIM-Lucknow.

Mayank Khanduja:- He is an alumini of IIM-Calcutta. He is an investor in Sharechat, NoBroker, Playsimple Games, Treebo,
Previously, worked with McKinsey and Co. India for 5 years, last role of Engagement Manager.
At McKinsey, served clients in High Tech and Telecom industries – consumer electronics, IT/ITES, telecom operators.

A8.
VC Deals Total Number of deals

2017 700
2018 793
2019 1053
 tions below

om/555099092/8a1e68e922

$3 billion in 2020, the highest in the last five years and around 40% more than in 2019, a report by Bain & Co. showed.
ghtspeed Venture Partners, Fireside ($118 Mn), Alteria Capital ($179), Trifecta ($140), Ankur Capital ($45.4 Mn) Venture Capital Repor
the strong momentum from 2019,” it said.

The high level of fundraising was also fuelled by two major funds closed by Sequoia Capital: India Venture Fund VII ($525 m

Sector
Sector
Mobile, Ecommerce, Education, Healthcare, Consumer, Internet
ECommerce, Internet, Curated Web, cleantech
 Mobile Technology and Applications, telecom, wireless technologies, enterprise software, SaaS, Web Applications/Services, Consumer I
Cloud -Enabled Services, Internet and Consumer Services, Infrastructure, Mobile and Software.
Healthcare, Outsourcing, Technology, Consumer, Energy, Financial.
Infrastructure, Cloud, Storage, Internet, Rural Sector, Outsourced Services, Agribusiness, Energy, Media, Mobile, Data Security, Big Data
Internet and Software Sectors, Mobile Applications, Telecommunications Equipment, Data Infrastructure, Consumer Internet, Media, Res

Fintech, Agritech, SaaS and Edtech.
Marketing, Fashion, F&B, Media, Retail
Consumertech,SaaS,Deep tech,healthcare

rtners, Venture Highway LLP, Stellaris, Kalaari Capital, Nexus, Chiratae, Inflection Point, IvyCap, Insight Partners, 3one4, Kalaari
Unicorn India Ventures
Menlo, U.S. Venture Partners, SAIF

If the firm only does seed funding they can invest in around 10 compnies with $500K- $1 mn
$3 mn, but depending on the product with competitive edge, size of the market, assessments of risk and so on.
anies with an amazing idea having potential of 3x returns or unicorn is low, so we can have 2 deals only of range $1mn-$3m

Financial Asset type

Physical commodity,debt,fixed income
Physical commodity,debt,fixed income
Physical commodity,debt,fixed income
Multiple, cross asset
Multiple, cross asset
Structured CDS, CDO
Structured CDS, CDO
Equity, credit
Equity, credit
Equity, credit
Equity, credit
Equity, credit
Futures and Options
Equity, credit
Equity, credit
Equity, credit
real estate
equity
equity
venture capital
equity

Reason
Author of "The Business of Venture Capital"
He has indept knowledge and experience in his field. He has already started 3 companies and is also and investor.
He was named VC of the Year at TechCrunch’s annual Crunchies awards
Reason: Acclaimed Writer (published by Scroll, Buzzfeed, Arre & more) Marketer, Vice President at Times of India, Oversse
Profiled in numersous books and Fortune's Most Powerful Women in Business, Board Member for many startups, and was
Twitter, Kickstarter, Etsy, Tumblr & more
Facebook, He not only is an active investor but has also written best sellerbook on the same.
Advices Govt. of Karnataka and teaches New Enterprise Financing
Over 32 years of experience in VC
Cofounder, CEO at Indifi, Board of TiE
Associate at Harvard, Entrepreneurship Expert
ategy adviser and Mentor
or Entrepreneurship Development
ate Equity and Venture Capital Association
The most successful billionare entrepreneur acclaimed for Technology
 Marketing P&G, Founding team Indya.com, Brand Manager Recckit, PM Oriflame, Head of Sales Whirlpool, Head Marketin
Founder (20 yrs) - Floral seeds import, Angel Investor 16 years

Analyst, Blackstone IB
Design Engineer - MBA

Considering 2 out of the big 22 companies (invested before 5 years) for main source of revenue (at 15% carry rate) as Phar
20% * $0.5B - $2 Mn = $ 8 Mn (20% stake attained at $2 mn assumed)
Meesho, DeHaat, Byju's
12.5% * $0.5B - $2 Mn = $ 4.25 Mn
linkedin.com/in/sorayadarabi
linkedin.com/in/hlmorgan
linkedin.com/in/herston

& Strategy concentration) from Goizueta Business School at Emory University in Atlanta, USA and Bachelor in Computer Engineering
e equity, technology consulting and business development.
i Capital, a venture capital firm investing in early stage technology oriented companies
agnostic venture capital fund (Tata Capital Innovations Fund) managed by Tata Capital Limited, the finance arm of the Tata Group.

g team responsible for conceptualizing, structuring and raising the fund

erent sectors.
and India with Cognizant Technology Solutions where he led numerous projects.
ed (Strategic Electronics Division) where he built complex software applications for the Indian army.
althcare, logistics, gaming and supply chain.
es such as Myntra, Dream11, Elasticrun and Visionary RCM.

nce professional with over 25-years of experience across multiple industries.

ge of activities for the firm including fund-management, fund-governance, investor reporting, fund auditing, investor relations, portfolio-m
at Flextronics, one of the largest EMS companies and has worked in various facets of finance including Investment Banking, Audit & Fin
es him to be very innovative and find newer ways to expand engagement with portfolio
artnership be more objective in their decision making through extensive analysis with core focus on balancing risk and reward.

cuses on early stage investments in consumer-tech and SaaS. Before Elevation, he worked as a management consultant at McKinsey.
gy, Unacademy and XpressBees

He is an investor in Sharechat, NoBroker, Playsimple Games, Treebo, PropTiger, Sensehawk, Frnd, StrataProp, AirBlack, FrontRow and
years, last role of Engagement Manager.
m industries – consumer electronics, IT/ITES, telecom operators.

Total Amount Invested

$26.8 billion
$26.3 billion
$45.1 billion
2021' showed.

llion) and India Growth Fund III ($825 million), accounting for 40% of all funds raised in 2020 for India-focused VC investments.

analytics, Consumer and Business services, Technology.

arch and Development
 32 years of experience
Buy Side/Sell Side/ Market Maker/Others
Sell
Sell
Sell
Sell
Sell
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy
Buy

Marketing at Blume Ventures

2x entrepreneur in Silicon Valley
 Sr. VP,COO,Founder - Own Family Office Venture Partner and then Managing Partner

Associate, I Director, Trulia

Analyst InterQualcomm Ventures, InvestmVP, Norwest Partners

measy,Country Delight are 2 key star performers

2*0.15*$8 Mn=$2.4 Mn, $720 K salary

3*0.15*$4.25 Mn=$1.9125 Mn, $637.5 K salary

Member-Board member-General Partner
Director-Co-Founder-Chairman-Founder
Inestor-Mentor-Avisor-ManagingPartner

om University of Mumbai.

anagement and exit-management.

ance control

Deals in the range

$0-500K $500k-10mn $10mn-50mn $50mn+
469 231
731 62
949 104
ng for 40% of all funds raised in 2020 for India-focused VC investments.
Venture Partner and then Managing Partner

VP, Norwest Partners

3 examples of deals in edtech

Cuemath $15 Mn, Eruditus $8.2 Mn, Springboard $12 Mn

Byju $0.54B, Unacademy $21 Series C,Toppr $35 Mn seriesC
Byju $150M,Sunstone $ 1.5 Mn, Impartus $10 M series A
3 examples of deals in Healthcare 3 examples of deals in Media

Yostra, Practo $55Mn, Airmed Labs $1.7 MN Oi Media, YourStory $3Mn, POPxo $3.1 Mn
MamaEarth $4MN, 3Hcare $1 MN, iNICU Manch $700K, Samosa Labs $7 Mn, SyncTa
Pharmeasy $220M, Misters $486K, Healthians $12M Pratilipi, Bolo App $430K, Trell $2Mn
3 examples of deals in Travel

Travel Triangle $10 Mn, Wandertrails $ 1Mn, Ixigo $15Mn

OYO $1B, MakeMyTrip $10 Mn, Guiddoo $800K
OYO $1B, Tripoto $3M, FabHotels $48 Mn
https://timesofindia.indiatimes.com/startups/venture-capital
https://inc42.com/resources/top-47-active-venture-capital-firms-india-startups/
https://analyticsindiamag.com/10-vc-firms-betting-big-on-deep-tech-focused-startups-in-india/ and https://www.businessins
https://economictimes.indiatimes.com/tech/startups/fireside-ventures-raises-100-million-for-final-close-of-its-second-fund/article
https://yourstory.com/2019/07/unicorn-india-ventures-equity-fund-b2b-startups/amp
https://www.bain.com/insights/india-venture-capital-report-2021/
https://trak.in/indian-startup-funding-and-investment-chart-january-2018/
https://trak.in/indian-startup-funding-and-investment-chart-february-2018/
https://www.vccircle.com/executive-education-firm-eruditus-raises-8-2-mn-from-bertelsmann/
https://trak.in/india-startup-funding-investment-2015/
http://ivca.in/wp-content/uploads/2020/05/bain_report_india_private_equity_report_2020.pdf
https://www.bain.com/insights/india-private-equity-report-2017/
https://www.bain.com/contentassets/4be8ff3e03ae4226933380ff5a3efaa6/bain_report_india_private_equity_report_2018.p
https://www.bain.com/contentassets/1b165fbff096473685e36a3b10df09a0/bain_report_india_private_equity_report_2019.
https://yourstory.com/2020/03/startup-funding-india-2019-investments-vc-funds-exits/amp
http://www.ishanacapital.com/
https://www.ankurcapital.com/team
https://www.financial-expert.co.uk/overview-of-investment-asset-classes/
and https://www.businessinsider.in/business/startups/news/chiratae-ventures-is-on-the-hunt-for-deeptech-startups-in-healthcare-and-a
lose-of-its-second-fund/articleshow/80361392.cms?utm_content=buffera507e&utm_medium=social&utm_source=linkedin.com&utm_camp

private_equity_report_2018.pdf
_private_equity_report_2019.pdf
h-startups-in-healthcare-and-agritech/articleshow/79184248.cms
urce=linkedin.com&utm_campaign=buffer