Aditya Birla Ventures wins ‘excellent new fund’ award from trade physique IVCA

Aditya Birla Ventures wins ‘excellent new fund’ award from trade physique IVCA

Aditya Birla Ventures (ABV), the enterprise capital arm of the $70-billion market cap Aditya Birla Group that backs new-age, high-growth companies, has been awarded by Indian Enterprise and Alternate Capital Affiliation (IVCA), the apex trade physique for different property. 

ABV has gained the excellent new fund award within the ‘IVCA PE-VC Awards 2023’ in Mumbai on Wednesday. “That is the award in recognition of buyers who’re investing for the primary time within the Indian ecosystem, and the jury recognised Aditya Birla Ventures because the winner,” IVCA stated in an announcement. 

The jury comprised trade heavyweights, together with  Deepak Bagla (MD and CEO, Make investments India), UK Sinha (Former SEBI Chairman),  Sanjeev Bikhchandani (Founder, Data Edge India), and Vivek Pandit (Senior Accomplice, McKinsey & Firm), Anita Marangoly George (Founding Accomplice, Edhina), and Cate Ambrose (CEO and Board Member, GPCA). 

“Our PM propelled the Startup India Motion as a harbinger of New India and the beginning of the ‘Amrit Kaal’. I want to thank all those that invested in India and confirmed confidence in our innovators and belief within the Indian Development Story,” Make investments India CEO Deepak Bagla stated on the event.  

ABV is an early-stage fund, chopping cheques for startups in seed, Collection A and Collection B rounds. It has invested in sectors resembling shopper tech, edtech, fintech, healthtech, enterprise SaaS, agritech, mobility and extra. A few of its portfolio corporations embrace MSME-enablement platform Dukaan, digital credit score infra firm Finbox, D2C jewelry model GIVA, health-tech startup Eka Care, and dairy-tech firm Moo Farm, amongst others. All these investments have been made in 2022 itself. 

Regardless of the worldwide capital market slowdown, PE and VC investments in India totalled over $50 billion final yr, accounting for 60 per cent of all FDI investments into the nation, as per IVCA. 

Rajat Tandon, President of IVCA, stated: “The IVCA PE-VC Awards honours PE/ VC funds, each international and Indian, who’ve demonstrated some excellent fiduciary accountability to their buyers and ecosystem up to now yr. Their contribution is a testomony to the quickly rising investor ecosystem in India which is making headway within the international context.”

The IVCA Awards additionally recognised a number of different VC funds throughout classes for his or her fundraising efficiency in 2022. 

These included: 

* Home Non-public Fairness: Eversource Capital for elevating $ 741 million

* Worldwide Enterprise Capital: Accel for elevating $650 million from each home and overseas LPs

* Home Enterprise Capital: Fireplace Ventures for elevating $225 million 

* Enterprise Debt Funds: Trifecta Capital for closing $150 million in its third fund, and additional exercising inexperienced shoe choice of $50 Million  

* Company Enterprise Capital: Bertelsmann India Investments for best-performing fund 

* Social Influence: Northern Arc Capital for investments in startups like Gramophone, Battery Sensible, Ecozen, BluSmart 

In addition to this, IVCA additionally awarded KKR for the very best exit (Max Healthcare) within the Non-public Fairness class, and Chiratae (FirstCry, Unbxd, for the very best exits within the Enterprise Capital class. 

Quadria Capital, in the meantime, gained the ‘Excellent Motion for Gender Range’ award for making the investing ecosystem extra gender-balanced.