India’s leading venture capitalists and industry leaders got together in Mumbai on May 4, 2010 under the aegis of the Indian Venture Capital Association (IVCA), wherein a new committee of IVCA was formed. Mahendra Swarup continues as President of IVCA.
Speaking on the occasion, Swarup said, “The Indian Venture Capital Association (IVCA) has come together with Global India Venture Capital Association (GIVCA), formerly known as US-India Venture Capital Association (US-IVCA), creating the largest representative body for promoting the interests of the industry in India. The new face of IVCA signifies the merger between IVCA and GIVCA.”
As part of this move, Luis Miranda, President & CEO, IDFC Private Equity, and Sumir Chadha, Managing Director, Sequoia Capital India, have taken over as interim Co-Chairs, along with a new interim Executive Committee. There are nine members of the IVCA – Vishakha Mulye of ICICI Venture Funds Management Company Ltd, Niten Malhan of Warburg Pincus, Gopal Srinivasan of TVS Capital, Sudhir Sethi of IDG Ventures India, Sarath Naru of Ventureast, Raja Kumar of UTI Venture Fund, Alok Mittal of Canaan Patners, Abhay Havaldar of General Atlantic and Archana Hingorani of IL&FS Investment Managers Ltd.
Formed in 1993, IVCA is a member-based national organisation that represents venture capital and private equity firms, promotes the industry within India and throughout the world and encourages investment in high growth companies.
IVCA members comprise venture capital firms, institutional investors, banks, incubators, angel groups, corporate advisors, accountants, lawyers, government bodies, academic institutions and other service providers to the venture capital and private equity industry.
Members represent most of the active venture capital and private equity firms in India. These firms provide capital for seed ventures, early stage companies, later stage expansion, and growth finance for management buyouts/ buy-ins of established companies.