What led to the inception of IvyCap in 2011?
In 2008-09, I was raising a $100 million fund focused on the healthcare and life sciences sector in India. At that time, amidst a market crash, I raised Rs 400 crore from 30-plus Indian institutions and individuals from which I was investing by 2009-10. As luck would have it, Piramal decided to sell their healthcare business to Abbott, which was one of the largest deals of the time. The idea of starting IvyCap Ventures got conceptualised when I met IITians while raising investment for Piramal.
Every time I met an IIT alumnus, irrespective of which IIT they were from, the connect was instant. Thereafter, I started thinking of having a platform with the IIT alumni to support the startup ecosystem. I discussed this idea with my IIT batchmates and current co-founders Ashish Wadhwani, Vishal Gauri and Anju Gupta. We decided that we would give back a substantial part of the profit to the alma maters of the investors. This gave me the opportunity to start with IvyCap Ventures in March 2011. In about 201315, IvyCap deployed its Fund-I in technology, consumer, B2B SaaS, healthcare. This philosophy which rooted IvyCap led to the foundation of India's first endowment fund at IIT Delhi. It took us about 8 years from the date of conceiving this idea to actually setting up the endowment fund in 2019, which was launched by the President of India at Rashtrapati Bhavan.
This story is from the 30 July 2022 edition of Businessworld India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the 30 July 2022 edition of Businessworld India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Astrology Cryptocurrency Of In New Financial Year
Whether you're a seasoned investment enthusiast or just starting out on your financial journey, Vedic astrology can be beneficial, especially in markets as volatile as the crypto sphere
KRISHNA CONSCIOUSNESS
The reader can almost feel that the mortal journey of Krishna has ended, yet Krishna Consciousness has manifested again as Keshav. Krishna-the Seventh Sense reveals the continuity of existence, notwithstanding the limitation of the one who exists. This book is a treasure
Recreating The Maruti Moment In EVs
SAJJAN JINDAL on the joint venture with MG Motor, electric mobility, charging infrastructure and more
Sustainable Models of Support for Women Entrepreneurs in India
Personal one-on-one mentorship is a key intervention that is most required amongst MSMEs and young startup founders today
ELEVATED ROAD TO SUCCESS
Honda Cars India is exporting 'Made in India' cars back to Japan showcasing India as a strong manufacturing hub for Honda sedans and SUVs. What is its game plan?
HOW HINDUJA GROUP'S BID TO ACQUIRE RELIANCE CAPITAL VIOLATES INDIA'S FDI, INSURANCE NORMS
The bid structure has come into question with the insurance regulator pointing out that it not just allows Hinduja Group-backed foreign entities to own 100 per cent in Reliance Capital’s insurance business but also lets them bid on borrowed money in total disregard of Indian laws and norms
Taking Astrology To The Masses
Driven by profound fascination and belief in the cosmic intricacies, Rajeev Bhandari, Founder, AstroSagga is on a mission to offer affordable courses to fuel employment in astrology sector
"My Mission Is To Make Temples Across India Better"
Sharad Kamath, Founder and CEO, 3ioNetra identified the need fora comprehensive software solution to address the complex billing and accounting needs of temples based on his experiences as avolunteer and organiser at religious functions
A Conduit Between Spiritual and Tech Realms
In November 2023, Vama secured a Seed Plus round led by Wavemaker Partners, bringing its total funding to USS 2.8 million
"AI Will Catalyse Hockey Stick Growth Of Astro Sector In India"
The current faithtech landscape in India leans heavily towards entertainment, says Punit Pandey, Founder, AstroSage and believes the key lies in shifting the revenue model from entertainment to trust