IVCA introduces new VC Council, Rajan Anandan and Prashanth Prakash to lead as co-chairs

The Indian Venture and Alternate Capital Association (IVCA) has introduced a new Venture Capital (VC) Council for the term spanning 2024–26.

This council will be co-chaired by Rajan Anandan, Managing Director of Peak XV, and Prashanth Prakash, Founding Partner of Accel India.

Manish Kheterpal, Co-Founder and Partner of WaterBridge Ventures will serve as Vice-Chair. This leadership aims to empower the Indian startup ecosystem, which is now the world's third-largest.

What are the goals of the VC Council?

The VC Council’s agenda for 2024–26 focuses on several strategic priorities aimed at fostering growth and innovation within the VC ecosystem. A key focus is on supporting micro-VCs, recognizing their crucial role in early-stage funding.

The council aims to increase domestic investment, improve governance standards, and attract new capital for emerging sectors.

Rajan Anandan emphasized, “India, the world's third-largest startup ecosystem, has emerged as a top investment destination. IVCA’s VC Council aims to promote this growth by increasing domestic investment, improving governance standards, and attracting new capital for growing areas."

How will the council support Micro-VCs?

A significant part of the council's mission is to empower first-time fund managers and micro-VCs.

Prashanth Prakash highlighted, “By empowering first-time fund managers with knowledge of key strategies in fundraising, capital deployment, portfolio supervision, governance, and reporting, we can take India’s startups to new heights.”

The council plans to facilitate fundraising efforts and foster connections between new managers and seasoned general partners and domestic institutional investors.

What initiatives will the council undertake?

The council will also engage in initiatives on exits and IPOs to optimize opportunities for investors and startups alike. It will work closely with the Government of India to propose and establish specialized funds like the DeepTech Fund of Funds and other state-specific funds to channel resources into sectors with high growth potential.

Training initiatives for VC fund general partners (GPs) and associates, along with a focus on ESG and corporate governance for startups, are also on the agenda.

What impact will the VC Council have?

Manish Kheterpal remarked on the broader impact of the VC/PE industry: “Despite global challenges for the equity asset class, India offers a breeding ground for innovation, entrepreneurship, and unique investment opportunities. At this interesting crossroad, IVCA’s VC Council aims to advance the VC ecosystem, effectively catalysing job creation, mainstreaming entrepreneurship, and contributing to India’s adoption of DeepTech alongside inclusive growth.”

The council's efforts are expected to strengthen the Indian startup-VC ecosystem, driving economic growth and job creation. The former VC Council played a crucial role in meetings with key government bodies and policymakers, empowering first-time fund managers through industry-led knowledge-sharing programs like #VC101.

The new council aims to continue this legacy, working closely with Indian VCs and policymakers to address regulatory and fundraising challenges, mobilize domestic capital, and create new pools of capital for Alternate Investment Funds (AIFs). This collaborative effort will build a stronger, more resilient, and self-sustaining startup-VC ecosystem in India.