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  • 20 March 2012

    Asia Series Partner

    Partners

    Showcase Partners

    Cocktail Reception Host Knowledge Partners

    GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY

    13th Annual

    avcjindia.com

    India 2012 6-7 December Taj Lands End, Mumbai

    Private Equity & Venture Forum

    avcjindia.com

    aureoscapital

    Reigniting the fire

  • Indias premier private equity gatheringThe 13th Annual AVCJ Private Equity & Venture India Forum is a must-attend gathering for private equity leaders across the region. India continues to draw international and regional private equity investor interest, offering both exciting rewards along with complicated risks. Increased deal activity has allowed limited partners to become more discerning about their investments, meaning that general partners must differentiate themselves both in their approach and in their portfolio management skills. Meanwhile, general partners also struggled with exits in 2011, counting only half the amount recorded in 2010 largely thanks to market volatility. Still, along with numerous structural risks and challenges, India remains one of the most dynamic private equity markets in the world.

    Chairman / CEO /Managing Partner,

    15%

    Principal /VP / Associate,

    27%

    Director / GM, 15%

    Managing Director / Partner/ CIO/ COO, 43%

    Others, 4%Europe, 6%

    Others - Asia, 3%

    India, 73%

    Singapore, 4%

    US, 5%

    Hong Kong, 5%Professional Services, 21%

    Limited Partners,13%

    General Partners, 52%

    Others (Association, etc.), 6%

    Corporates, 2%

    Investment Banks, 6%

    By type ofcompany By titleBy country

    R e g i s t e r o n l i n e a t : a v c j i n d i a . c o m

    AVCJ Private Equity & Venture Capital India Awards

    Join the AVCJ India Forum and network with leading regional and global limited partners.

    Key topics at the event include:

    How can the industry change course and grow anew?

    Which sectors are the most promising in the current market?

    What do limited partners want from India funds? What do you need to know about the new tax and regulatory environment?

    What are the best ways to manage portfolio companies and ensure corporate growth?

    What venture capital opportunities and challenges exist in the country?

    How can investors find exits in a challenging landscape?

    After a successful launch in 2010, AVCJ will be hosting the third Private Equity & Venture Capital India Awards,

    to recognise and honour firms and practitioners who have helped drive the growth of Indias private equity and venture capital industry.

    The winner of each category will be revealed at the Forum. Details will be announced at avcjindia.com.

    2011 Forum HIgHlIgHTs

    Over 250 participants from 19 countries and 143 companies

    Attended by Indias leading GPs and LPs

    50 speakers from leading regional and global industry firms

    Supporting Organisations

    Official Broadcast Partner Philanthropy Partner Media Partners

  • speakers

    R e g i s t e r b y e - m a i l : d m @ a v c j . c o m

    limited partners

    Keynote

    Ashishkumar Chauhan Interim Chief Executive Officer BomBAY sToCK EXCHANgE

    samiran Chakraborty Head of Regional Research, South Asia sTANdArd CHArTErEd

    saumitra Chaudhuri Member, PlANNINg CommIssIoN

    & Member, ECoNomIC AdVIsorY CouNCIl To PrImE mINIsTEr, THE rEPuBlIC oF INdIA

    markus Ableitinger Managing Director and

    Co-head of Investment Management Asia

    CAPITAl dYNAmICs

    Navin m Baby Vice President, Investments KHAlId AlI AlTurKI &

    soNs Co

    Vikram raju Regional Lead, Private Equity and Investment Funds INTErNATIoNAl FINANCE

    CorPorATIoN (IFC)

    Juan delgado-moreira Managing Director,

    Investment Committee Asia

    HAmIlToN lANE

    sunil mishra Partner AdAms sTrEET PArTNErs

    Brijesh Jeevarathnam Managing Director CommoNFuNd CAPITAl

    savio s. gomes Executive Director Al HomAIzI grouP

    Pratima divgi Investment Director squAdroN CAPITAl

    Chris loh Partner AXIom AsIA PrIVATE

    CAPITAl

    Peter martisek Director BlACKroCK PrIVATE

    EquITY PArTNErs

    Hiti singh Portfolio Director

    CdC grouP PlC

    Praneet singh Managing Director sIgulEr guFF INdIA

    AdVIsErs

    Anand sunderji Regional Representative

    (India) PAul CAPITAl

    robert Collan Vice President, Private

    Equity uNIgEsTIoN

    Hiro mizuno Partner CollEr CAPITAl

    For the latest confi rmed speakers v is i t : avcjindia.com

  • speakers

    R e g i s te r by p h o n e : + 8 5 2 3 4 1 1 4 9 3 8 ( A n i l N a t h a n i )

    Senior industry professionals

    Pravan malhotra Clean Technology

    Investments, South Asia INTErNATIoNAl FINANCE

    CorPorATIoN (IFC)

    deepak Bhawnani Chief Executive Officer

    and Managing Director AlEA CoNsulTINg

    Amit gupta Partner and Chief

    Operating Officer NEwquEsT CAPITAl

    PArTNErs

    sanjay gujral Regional Managing

    Director l CAPITAl AsIA (lVmH)

    somak ghosh Co-Chief Executive Officer motilal oswal Private

    Equity Advisors (moPE)

    mintoo Bhandari Managing Partner AIoN CAPITAl PArTNErs,

    APollo mANAgEmENT

    Heramb r Hajarnavis Director KKr INdIA

    Haigreve Khaitan Partner KHAITAN & Co

    sanjay Nayar Member KKr and Chief Executive Officer KKr INdIA

    shobhit Agarwal Managing Director ProTIVITI INdIA

    shomik mukherjee Partner, Consumer and

    Value Creation, India ACTIs

    Amol Jain Managing Director TPg CAPITAl INdIA

    Pankaj Jain Venture Partner 500 sTArTuPs

    ron shah Founder and Managing

    Partner JINA VENTurEs

    gulpreet Kohli Managing Director CHrYsCAPITAl

    INVEsTmENT AdVIsors PVT lTd

    Vishal gupta Managing Director BEssEmEr VENTurE

    PArTNErs

    Balaji srinivas Partner and Regional Fund

    Manager South Asia AurEos

    Harsha subramaniam Executive Producer, India BloomBErg TV

    Pavninder singh Principal BAIN CAPITAl AdVIsors

    (INdIA) PVT lTd

    rajesh singhal Partner TATA oPPorTuNITIEs

    FuNd

    Vishakha mulye Managing Director and

    Chief Executive Officer ICICI VENTurE FuNds

    mANAgEmENT Co lTd

    Nainesh Jaisingh Managing Director and

    Global Co-Head sTANdArd CHArTErEd

    PrIVATE EquITY

    Punit shah Partner and Co-Head of

    Tax Practice KPmg

    mukul gulati Co-founder and

    Managing Director zEPHYr PEACoCK INdIA

    mANAgEmENT

    Vikram utamsingh Partner, Transactions and

    Restructuring and Private Equity Advisory

    KPmg

    Archana Hingorani Chief Executive Officer

    and Managing Director Il&Fs INVEsTmENT

    mANAgErs

    devinjit singh Managing Director, Asia

    Buyout Group THE CArlYlE grouP

    m.K. sinha Managing Partner and

    Chief Executive Officer IdFC Alternatives

    mahendra swarup President INdIAN VENTurE CAPITAl

    ANd PrIVATE EquITY AssoCIATIoN

    martin Haemmig Adjunct Professor CENTrE For TECHNologY

    ANd INNoVATIoN mANAgEmENT (CETIm)

    Vani KolaManaging Director

    KAlAArI CAPITAl

    Vish ramaswami Senior Research Consultant

    CAmBrIdgE AssoCIATEs

    James owen Director of Corporate

    Investigations, India and South Asia

    CoNTrol rIsKs

    Ashish gupta Senior Managing Director

    HElIoN AdVIsors

    Paul singh, Partner, 500 sTArTuPs

    PLUS

  • ProgrammeThursday, 6 december 20128:00 Registration and refreshments

    8:50 Welcome remarks

    9:00 India PE update Reigniting the fireIndias private equity industry appears to be on the mend, with fundraising and total capital under management increasing year-on-year. But for many, the industry has also lost some of its shine with the market overly crowded, high valuations, disappointing returns, evolving regulations and a difficult fundraising environment. For all the promise and potential in the market, India is struggling to find its place in the Asian PE landscape. What can the industry do to reignite returns and ensure long-term growth? What is the current state of the industry and the outlook for the coming year?

    Is success in India primarily a function of finding the right fund managers?

    Will we see consolidation amongst GPs in the coming year, and if so, what will become of the extra fund managers?

    Given the crowded nature of the market and the difficult fundraising environment, how can GPs secure the commitments they need?

    What factors are causing the difficult exit environment and how can investors get the returns they desire?

    10:00 Fireside chat with Indias leading domestic firms: The past, present and future of the industrySince its humble beginnings a little more than a decade ago, Indias private equity industry has seen its share of ups and downs. The industry witnessed a high-growth environment from 2006 to 2008, largely via PIPE transactions, but then stumbled substantially after the financial crisis. And, while the asset class is now showing signs of renewed growth, many challenges remain. In this intimate session, leaders from Indias top domestic funds will have an in-depth conversation about how the private equity industry has developed, and where it is headed in the future. What lessons can be learned from the past decade of Indian PE?

    How can PE ensure that it remains a partner to Indias remarkable growth story?

    Is the widely held perception of India yielding lower returns than other markets in Asia accurate?

    What changes is the industry likely to face in the coming years?

    What should GPs be doing to guarantee the long-term viability of the industry?

    10:45 Networking coffee break

    11:15 Managing portfolios in turbulent times: Distressed and secondary opportunities Indias faltering economy has created opportunities on both the buy-side and the sell-side. As corporations struggle to prosper in the slow-growth economy, GPs are also looking to exit their mid-2000s vintages, leading to a growing direct secondaries market as well as an increasing number of distressed and special situation opportunities. What are the challenges and opportunities associated with secondary investments in India?

    How can distressed assets be priced accurately? Which sectors present the best options for distressed investments?

    How can GPs demonstrate they will continue to create value for secondary investments?

    Which sectors are prospering in the slowing economy? Can secondary exits present a successful exit route for the large number of GPs now looking to offload assets? Who will be the buyers?

    What are some successful ways GPs in India manage their portfolio companies in the stalled economy?

    12:00 Creating Value: The building of brands and corporate success in India Indias robust economy and rapidly expanding consumer market make competition fierce when it comes to achieving corporate success. GPs face numerous challenges as they find ways to add value to their portfolio companies in this crowded environment. One of the strategies employed by GPs is to build brand recognition for their managed companies, which can help open the door to a potential market of millions of households. What benefits does PE funding offer for the corporate world in India that differ from other funding sources?

    In terms of brand recognition, what lessons can be learned from respected companies such as Bajaj, Godrej and Tata?

    How important is brand recognition in India, and what are the best strategies for making a company well known and well respected?

    What are the benefits and risks of being a minority versus a majority shareholder in India when it comes to managing a company?

    12:45 Keynote address

    13:15 Networking lunch

    14:15 Plenary address: PE/VC Performance and Benchmarking

    14:45 Which door to choose? Finding the right exit strategy at a time when exits are scarceExits in India achieved an all-time high in 2010 but then declined sharply last year. India is now perceived as being a tough market to exit with often disappointing multiples. Many PE professionals are now re-evaluating their strategies by prioritising performance improvement and looking at exit options such as secondary buy-outs, mid-market opportunities and strategic purchases. What factors contribute to the exit deficit in India, and will these continue to be a hindrance?

    What exit opportunities exist in the mid-market? How appealing are trade sales and buy-outs as exit vehicles? What role do market regulations play in formulating exit strategies, and will this change under Sebis regulatory oversight?

    How are tax laws affecting the exit landscape? How is market sentiment influencing exit activity?

    15:30 Taxing times: Regulatory changes and an evolving tax frameworkRegulatory changes and an uncertain tax regime continue to cause concern among PE professionals in India. In April 2012, it was announced that the Securities and Exchange Board of India (Sebi) will assume regulatory authority of the private equity industry a significant development that places the asset class under the oversight of an independent regulator for the first time in India. Meanwhile, the General Anti-Avoidance Rule (GAAR) threatens to dramatically alter the tax landscape for PE firms by essentially undoing Indias Double Tax Agreement (DTA) with Mauritius. What regulations now exist for PE in India and what impact do they have on fundraising, reporting and fund management?

    How do regulations in India compare to other markets in APAC?

    What can fund managers do to protect their investments given the changing tax framework, and how will GAAR affect exits?

    What is the best jurisdiction in which to incorporate under the GAAR regulations?

    What will AIF Regulations mean for the classification and regulation of PE vs. VC funds?

    What should the government do to erase regulatory uncertainty and demonstrate its support and understanding of the PE industry?

    What regulatory ambiguities still need clarification?

    R e g i s t e r b y e - m a i l : d m @ a v c j . c o m

    Hosted by

  • Programme

    Friday, 7 december 20129:00 Registration and refreshments

    9:15 Opening remarks

    9:20 Keynote address

    9:45 Infrastructure and real estate opportunitiesInfrastructure and real estate transactions continue to dominate much of Indian PE conversation. The country has an immense and much discussed need for infrastructure modernization (infrastructure investments accounted for 15.8% of all PE transactions in 2011), and as India further urbanises, it also has a great need for real estate development. These factors have lead to strong deal-flow in both of these areas and the formation of numerous sector-specific funds. Is the potential and popularity of these sectors yielding returns? What are the biggest challenges for infrastructure investment in India?

    What are the drivers that make the real estate sector attractive to PE and are they sustainable?

    Can construction investments be used as a way to access both sectors at once?

    How much interest do foreign LPs have in infrastructure and real estate funds?

    What are the most pressing infrastructure needs in India today, and how can PE get involved in the development process?

    Are the lengthy project timetables often associated with infrastructure and real estate development compatible with the PE investment model?

    16:15 Networking coffee break

    16:45 Mitigating investment riskConducting sufficient due diligence of target companies is more important than ever in todays market. The large number of GPs present in India creates an environment in which desirable firms often have multiple bidders and fund managers are pressured to close deals quickly, sometimes resulting in a shortened vetting period. A number of firms have been burned in recent years by investments that were not thoroughly scrutinized and investigated. In this high-pressure, quick moving environment, what steps can GPs take to ensure their investments are sound? How widespread is corporate malfeasance and accounting corruption in India?

    What factors do GPs need to be aware of when conducting due diligence on Indian firms?

    Which sectors of the market present higher risks and why?

    What do LPs expect from GPs in terms of protecting their investments?

    How can GPs maintain positive relationships with potential investee companies while investigating them?

    17:30 Keynote address

    18:00 Close of conference day 1

    18:00 Cocktail reception

    19:15 Gala dinner and awards ceremony

    10:30 Funding the next big thing: VC opportunities across India Entrepreneurial activity continues to boom across a wealth of different sectors in India, making the country a fertile ground for start-ups and business innovation. The recent success of firms such as MakeMyTrip has proven that the VC model can yield great returns. However, the crowded nature of Indias market also makes competition for early-stage investable companies fierce, and GPs looking for deals must contend with both rival fund managers and savvy entrepreneurs looking to sell high. What are the hottest industries for VC in India and in which locations?

    How do LPs view the funding of emergent companies and is support forthcoming?

    How much venture capital can India absorb? How can GPs get a good deal when dealing with savvy Indian entrepreneurs?

    What is Indias appetite for pre-revenue, ground floor investments?

    11:15 Networking coffee break

    11:45 Looking ahead: Indias PE and VC industry in 2015 Indias private equity and venture capital industry has reached an important crossroad. After years of growth and optimism, the industry is now struggling to deliver returns and attract outside investors. There are now more funds in the market than at any point in the past, but many believe that an industry-wide consolidation is looming. In this forward-looking session, outside investors and local experts will examine what the industry will likely look like in three years time. Can India continue to support the high number of funds currently in the market?

    What needs to be done to renew interest from foreign investors?

    What is the industry likely to look like in 2015? What sectors are the most promising for long-term growth?

    How can Indian GPs compete with their counterparts in places such as China and South-East Asia for the long run?

    Will India face stalled economic growth for the foreseeable future, or can something be done to reverse this trend?

    12:30 LP perceptions and expectations of India What are the most and least attractive attributes of India funds?

    How does India compare to other Asian markets in terms of returns and length of investment?

    With the large number of funds in the market, what criteria are most important when selecting GPs?

    How concerning are the proposed GAAR tax regulations from an LP perspective?

    Does the local PE industry need to go through a period of consolidation, or can India support the high number of funds currently in the market?

    Given the large number of spinout funds in India and high rates of management turnover, are LPs concerned that the managers in which they invest will change over the course of a fund cycle?

    13:15 Networking lunch

    14:15 Close of conference

    R e g i s te r by p h o n e : + 8 5 2 3 4 1 1 4 9 3 8 ( A n i l N a t h a n i )

    Hosted by

    Hosted by

    Hosted by

  • Venue and accommodation

    rEgIsTEr Now

    Taj Lands End, Mumbai

    contact uS:SPeAKing OPPORtunitieS: zach reff t: +852 3411 4950e: [email protected]

    RegiStRAtiOn enquiRieS: Anil Nathanit: +852 3411 4938 e: [email protected]

    SPOnSORSHiP enquiRieS: darryl magt: +852 3411 4919e: [email protected]

    MARKeting And MediA enquiRieS: rebecca Yuent: +852 3411 4906e: [email protected]

    2 Fax or e-mail the completed form to Reservation DepartmentE-mail: [email protected] Tel: +91 22 6668 1339 Fax: +91 22 2651 24711download the booking form at book-hotel-pdf.avcjindia.com To book your room, simply

    Card no. Expiry date Security code

    Name on card SignatureCancellation / refund policy: A cancellation charge of US$300 is applicable to written cancellations received on or before 22 November 2012. No refund will be made for cancellations after the date due to our advance guaranty obligations and administration costs.Pay in advance: We will include registrants names on the official delegate list if we have received your registration fees on or before 29 November 2012. All payments should be made prior to the event. Regrettably, no entrance will be permitted for payments not received before the event takes place.

    Cheque payable to AVCJ Group Ltd. Bank transfer to HSBC, One Queens Road Central, Hong Kong: A/C# 004-502-118953-001(US$/HK$)(SWIFT code: HSBCHK HHH KH)

    Any bank charges must be prepaid. Please fax a copy of the transfer slip to +852 3411 4999 or +852 3411 4948. Credit card: (US$/HK$) Visa MasterCard American Express

    Please complete your details below in BLOCK CAPITALS or attach your business card.

    Mr/Mrs/Ms First name Last name

    Job title

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    Address

    City Country Post/zip code

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    211112

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    I plan to attend the Networking Cocktail and gala dinner on Thursday, 6 December, at 17:20 (Ballroom, Taj Lands End, Mumbai) Yes No

    Room cancellation policy For individual reservations being sent to the hotel on this form, the booking will have to be guaranteed by a credit card for all the requested dates, and any cancellation will be subject to the following cancellation charges:1) Cancelled 14 days or less from the date of check-in: one night charge as cancellation.2) Cancelled 07 days or less from the date of check-in: charges for full duration of stay booked will be levied as cancellation. Please note AVCJ does not bear the responsibility for participants travel and accommodation arrangements.

    A limited number of rooms have been reserved at a special rate for AVCJ Forum participants on a first-come, first-served basis. Please book your room directly with the hotel and identify yourself as an AVCJ Forum participant to qualify for the rate.

    deluxe sea View rooms rate: single rate - INr11,000 per room per night plus 15.15% taxes double rate - INr12,000 per room per night plus 15.15% taxesNote: Room rate is subject to room availability, taxes not included

    AVCJ Private Equity & Venture India Forum 6-7 December 2012, Taj Lands End, Mumbai

    Taj Lands End, Band Stand, Bandra (West), Mumbai 400 050, Maharashtra, India www.tajhotels.com/Luxury/City-Hotels/Taj-Lands-End-Mumbai/Overview.html

    Seats are strictly limited. Please register now.

    AVCJ-02-CS

    standard rate (After 29 October 2012) US$1,995 / HK$15,560 / INR110,300

    Fees include the two-day conference, refreshments and luncheons, one evening reception and all conference documents.

    Booking detailsn online registration at

    www.avcjindia.com/static/book-nown E-mail to [email protected] Call Anil Nathani at +852 3411 4938n Fax the completed registration form to +852 3411 4948n mail it to: 20/F, Tower 2, Admiralty Centre,

    18 Harcourt Road, Admiralty, Hong KongFive

    eASy wAyS tO RegiSteR:

    Group discount: A us$200 discount is applicable for the second & subsequent registrants from the same office. Please contact Anil Nathani on +852 3411 4938 or at [email protected] for more details.