Latest updates
on the fund and its business partners

November 11, 2022

INDO-UK TIES TURNING A NEW LEAF

India’s economic ties with the UK with Rishi Sunak at the helm would benefit both countries.

November 11, 2022

Loan Distribution Platforms

It is a well-known fact that penetration of credit in India is significantly lower than other emerging markets – both for individuals as well as MSMEs due to a large spectrum of challenges.

October 20, 2022

NATIONAL LOGISTICS POLICY – A GAME CHANGER

India's logistics overhaul with the transformational National Logistics Policy reflects a massive potential waiting to be tapped

October 20, 2022

Social Investing

Social trading is a concept which involves traders copying the trades of another trader/investor who has demonstrably better experience than the former or have historically gained good returns by investing or trading in the markets. For example, Warren Buffet, Rakesh Jhunjhunwala etc have had their portfolios copied by many passive investors; even many day-traders provide their trading activities to the community interested in generating better returns.

September 14, 2022

Home construction market in India

Home construction being one of the oldest industries known to mankind, is on the cusp of a rapid transformation in India. With Internet penetration bringing information access to the remotest corner of the country, it brought along efficient construction practices and awareness among consumers.

September 14, 2022

India shines bright; posts the highest GDP growth among global peers

The Indian economy has once again proved its resilience and showed a sharp pickup in GDP growth despite the uncertainties and slumping global growth rates. India’s GDP growth accelerated to 13.5% in Q1FY23 as against the 4.1% growth in the previous quarter of 4.1% in Q4FY22. This growth places India at the top rank of the high-growth economies among the G-20 nations  (2.8 times higher than average GDP growth for the 20 largest economies which is 4.9%) with macro-economic indicators signalling that growth momentum could remain upbeat in the coming quarters.

August 13, 2022

India @ 75: Brimming with opportunities

At this juncture, when we at TVS Capital Funds, attempt to unravel our journey to India@75, we vividly recall the words of our Member of our first Board, Shri C.K.Prahlad, whose vision inspired us to empower next gen entrepreneurs. When asked to speak in the year 2007 on the occasion of celebration of India@60, he rightly positioned his vision1 to speak on “Power of India@75”2. We dedicate this blog in rememberance to our mentor Shri C.K.Prahlad.

August 16, 2022

India’s Drone Industry – Emerging Investment opportunity

Overview: Drones are unpiloted aircraft that are either remotely controlled by an operator or autonomously by onboard computers. Though at a nascent stage, drones are commonly used for military and commercial purposes, including surveillance, crop protection spraying, surveying construction projects, filmography, among others. With technological developments and ease of reform, the application of drones is expected to expand to other areas as well.

July 19, 2022

HR Tech – Growing Opportunity – “Lower participation of workforce in formal economy and increasing demographic divide”

The Indian job market continues to be upbeat as companies are going ahead with their hiring plans for the July-September quarter despite macroeconomic headwinds from high inflation, rising cost of money and ongoing geopolitical tensions. The Teamlease Employment Outlook Report showed that more than 61% companies intend to hire for white-collar and blue-collar roles in the quarter, compared to 38% a year ago. The hiring intent is up 7% from the previous quarter in India.

July 19, 2022

Financial Institutions - Soundness And Resilience

Indian banks bolstered risk absorbing capacity and should withstand severe stress

The financial turmoil due to covid-19 posed a risk to the financial stability of banks. The government and the RBI unveiled large doses of policy and regulatory support to the banks and financial institutions to traverse the waves of the pandemic. While there are grounds for optimism as the regulatory and budgetary support has been constructive and progressive, some obstacles remain.

June 20, 2022

INFLATION and GROWTH – Global and Indian Perspective

The US Federal Reserve has taken a determined stance against inflation raising its key benchmark rates an aggressive 75 basis points at the latest FOMC meeting in one of the highest rate hikes since 1994. The US Fed’s rate spike comes after a 50-basis point hike in the Fed rate the last time with cumulative rate hikes now showing at 125 basis points increase.

June 20, 2022

Fractionalization of Assets - ‘Democratising access to Alternate Investments’

Asia and the emerging economies, especially India, are poised for the next big growth in alternative investment products and are primed for the next wave of alternative growth. As of May 2022, over 900 AIFs had been registered with the Securities and Exchange Board of India (SEBI), with capital commitments increasing at 63 per cent CAGR between 2012 and 2022. Global alternative investments AUM increased from $4.1 trillion in 2010 to $10.7 trillion in 2020 and is anticipated to reach $17.2 trillion by 2025.

May 19, 2022

Digital Banking Units – a perspective

RBI has recently released guidelines for Digital Banking Units [DBU] in pursuance of budget announcement to open 75 DBUs this year. Hon’ble PM would be launching commencement of operations of DBUs on August 14, 2022.

May 19, 2022

RBI and economic challenges

With a global stagflation-like condition, the economic ground work for a revival next year is underway.

April 18, 2022

Fallouts of Inflation

Global inflation is surging, roiling the Indian economy. Markets fear that steep rate hikes could be the only way out. The Ukraine-Russia conflict is fuelling higher prices of food and commodities. We have no visibility as to how long the sanctions could remain in place or what course the political situation in Ukraine will take. 

April 18, 2022

Insurance Broking Business– An investment perspective

The overall size of insurance industry as measured in terms of Total Premium was ₹ 8,27,500 Crores (US$ 110 billion) in FY 2021 as per data collated from IRDA. This industry is expected to grow at a 17.8% CAGR to reach ₹ 39,00,000 Crores (US$ 520 billion) by FY2030, with life, health and other non-life insurance growing at 18.8%, 15.3% and 13.5% CAGR respectively, as per Frost & Sullivan report.

March 17, 2022

Direct To Consumer (‘DTC’) Brands

It is said to have started during eCommerce 2.0 in the mid-2000’s in the US when platforms such as Shopify, BigCommerce and Magento made it possible for vertical brands to make and sell their own products directly to consumers.

March 16, 2022

The Economic Impact of the Russia-Ukraine Conflict

The Russia-Ukraine crisis poses a challenge, but the equity asset market is resilient

February 14, 2022

Budget 2022-23: From eyes of TCF Team

India is well over the mid-point in the journey to becoming a $5trillion economy crossing the $3 trillion mark in GDP. The recovery in growth in the face of the global covid-19 pandemic shows the resilience of the Indian economy. But it was still imperative for the government to consolidate the foundations with a major thrust on structural growth.

February 14, 2022

Open Banking

Never in the history of Indian Banking that so much is happening, in so short a time – be it payments, lending, collections – large scale disruptions and disaggregation of different segment of banking services – by various start-ups.

January 18, 2022

Investment Theme of the Month: Digital Banking

NITI AAYOG recently released a proposal titled - 'Digital Banks in India: Licensing & Regulatory Regime'. The report covers a wide range of questions regarding the various models utilised in banking and a potential framework to implement Digital Banking in India.

January 18, 2022

The Paradox of Rising Inflation

Global equity and bond markets are faced with a paradox. As supply-chain disruptions, rising demand, and accommodative central banks create havoc with this one major macro-economic indicator, inflation, the immediate concern for policy-makers is: when is the most appropriate time to begin to raise interest rates.

December 20, 2021

Investment Theme – Litigation Financing

With capital moving in search of higher yields, we have witnessed significant interest in alternative forms of investment over the past few years. This has resulted in private funds pursuing opportunities in non-traditional areas of value creation. One such area is that of Litigation financing – a “third party funding’ practice of providing financial resources to a litigant over the course of a commercial litigation or arbitration proceeding. For the purpose of this blog, we aim to discuss the definition of litigation financing, its requirement, and the market available for the same.

December 20, 2021

The Indian IPO Boom

The primary market is blooming. Founders, entrepreneurs, and businessmen are showing an immense zeal in getting their companies listed and publicly traded. More money is pouring into equity IPOs with this year seeing record subscriptions in several IPOs. Entrepreneurs on their side are not shying away from the public scrutiny that comes with the listing, but many are even confident that their companies will do better post the initial offers.

December 20, 2021

TVS Capital’s Founders Day celebration - honouring the spirit of entrepreneurship

With several prominent founders and CEOs stepping out of their work and family lives to take part and share their entrepreneurial highs and lows with distinguished and elite guests and entrepreneurs, TVS Capital’s Founders’ Day celebrations witnessed a rousing start.

November 17, 2021

Investment Theme - Revenue Based Financing

At a time when the creation of unicorns and successful technology IPOs are becoming increasingly commonplace, we are beginning to see a revolution in another investment structure which equally deserves investor attention. This is ‘Revenue Based Financing’, an investment mechanism which allows for traditional growth start-ups to raise debt funding rather than rely on equity infusion from private capital.

November 17, 2021

Nykaa's IPO - Overview

Not for the first time in 2021 and certainly not for the last, we witnessed the public market debut of a technology company provide stellar returns to investors. 2021 has been a year like no other for Indian equity markets, but what is noteworthy is that it has resulted in a convergence of private market and public market valuations. To go one step further, it seems that now private market valuations are having a direct impact on public market multiples. 

October 30, 2021

Building future Business: India@100

When we wanted capital, we did not get money” – Deepinder Goyal – Founder and CEO of Zomato $13 billion enterprise – poster boy of India@60 –Zomato was founded in 2008

We focused on survival, for days, for weeks and some months – success tasted after years” – that was Sanjiv Bikhchandani, founder of Info Edge – early investor in Unicorns including Zomato and Policy Bazaar – product of liberalised India –-took to entrepreneurship in 1990.

October 18, 2021

Investment Theme: Buy Now Pay Later

Buy Now Pay Later (BNPL) companies are the newest disruptors in the payments ecosystem, promising to become as ubiquitous as credit cards and digital wallets.  Driven by growing e-commerce, increasing consumer demand, and need for convenient solutions, BNPL provides an alternate avenue for lenders to access new borrowers.

October 18, 2021

Evergrande weighs on Chinese debt markets, but global contagion limited

Ever since Evergrande, China’s second largest property developer, announced that it missed its bond payments, the Chinese debt markets have been in a turmoil. Bond prices have slumped and its effect in the $5 trillion real estate sector is causing investors billions of dollars in losses. In this months blog, we take a deeper look at the Evergrande debt crisis and its potential ramifications.

September 17, 2021

Regulatory Technology

With the acceleration in digitisation becoming a staple part of all investment themes, we are beginning to witness increased burden on the risk and compliance functions – especially in the financial services industry. Moreover, these companies are not only expected to swiftly adapt to these pressures, but also do it in a cost-effective and secure manner. Given these factors, we now see RegTech (Regulatory Technology) companies gaining prominence in the eyes of investors as they are viewed as essential to the core operations of banks and other regulated entities.

September 17, 2021

GDP Update

The recovery in the Indian economy continues well with real GDP growing at 20.1% y-o-y in the first quarter despite the pandemic-related restrictions. This high growth rate was, no doubt, due to low base in the year ago quarter, when the economy shrunk by more than 24% due to stringent closures in the year ago quarter. To provide further perspective, the real GDP number stands at ₹32.4 trillion compared to ₹35.6 trillion during the pre-covid times in Q1FY20.

August 16, 2021

Investment Theme: Retail Participation in Debt Markets

For most countries across the world, direct access to the bond market was the preserve of banks, financial institutions, and corporates with large treasury operations. However, through recent government efforts along with the steps taken by start-ups, we see increased prevalence in the participation of retail investors in debt. Will this finally unlock the substantial potential locked away in Indian debt markets?

August 16, 2021

Three Decades of Economic Reforms

The past three decades have not been without its ups and downs, but it belongs squarely to India. Indeed, India’s economic revival owes its roots to the reforms of 1991. After struggling with a dire balance of payments situation, the Indian government ushered in urgent and bold reforms. Ever since, there has been no looking back.

August 16, 2021

5 myths busted; new age tech cos to account for 20% of m-cap by 2025: Gopal Srinivasan

I have seen five myths about new age tech companies being busted in the last five weeks. I am looking forward to the next five years and expect 20% of the market to belong to tech companies in India by 2025. Other than that, SaaS companies will be the next big thing and account for another trillion dollar ma-cap in future.

August 16, 2021

High Frequency Indicators

High Frequency Indicators (% YoY change)

July 14, 2021

Investment Theme: Retail Assortment Management

As retailers now have only one opportunity to satisfy their customers, 'Retail Assortment Management Applications' could hold the key to meeting demand and securing customer loyalty. In this month's investment theme, we go into the implementation and expected outcomes when utilising RAMAs.

July 14, 2021

Fed Policy to potentially disrupt valuation curve in the PE market

We take a deeper look into the Federal Reserves recent policy meeting and the potential impact of monetary policy on Private Equity investments across the world. With broader recovery expected to take place, how will valuations move?

June 15, 2021

Investment Theme of the Month: Agri

With India ranking 103 out of 119 in the Global Hunger Index in 2018 and at the same time wasting 40% of all harvested agricultural produce – it is surprising that only in the last few years have investors opened their eyes to the value potential in Agriculture.

April 01, 2021

Addressing the needs of the 'Missing Middle' - TSGF3 invests ₹100 Cr in Five Star Business Finance Ltd

We are pleased to announce the completion of our 5th investment from TVS Shriram Growth Fund- 3 (TSGF3) in Five Star Business Finance Limited. Our INR 100cr investment for ~0.97% stake in the NBFC highlights our continued objective of financing SME lenders who are solving for the problem of “access”.

This investment marks another testament to our investment philosophy of backing the best NextGen entrepreneurs across businesses. We deeply subscribe to Mr. Lakshmipathy’s vision of building Five Star Finance into a pan India NBFC which will be among the top decile of players in this category.

March 31, 2021

Mr. Lakshmi Narayanan, on his life story and interests in making India better via entrepreneurship & innovation.

Our Director, Mr. Lakshmi Narayanan, on his life story and interests in making India better via entrepreneurship & innovation.

His vision, humility and concern for humanity’s scientific progress, his ideas on how leaders (श्रेष्ठas) transform the world are inspiring and elevating.

March 19, 2021

Undaunted by Covid disruption - Baskar Babu leads SSFB to IPO

It is always joyous to partner with best-in-class entrepreneurs and on this day, we wish to discuss one of our more successful business partners – Suryoday Small Finance Bank. The Listing of a portfolio entity is the ultimate aim for any Fund Manager and provides us with a sense of accomplishment which is even more invigorating than the returns from the investment.

October 21, 2020

PE, VCs’ 3-point agenda to FM: tax parity for unlisted shares, push pension funds into startup funding, strengthen GIFT CITY

PE, VCs’ 3-point agenda to FM. tax parity for unlisted shares, push pension funds into startup funding, strengthen GIFT CITY. There is no level-playing field between listed and unlisted shares for domestic investors, said Gopal Srinivasan, chairman of TVS Capital Fund.

October 20, 2020

Smt. Nirmala Sitharaman, Hon’ble Finance Minister, holds a meeting (via VC) with Shri Gopal Srinivasan, Chairman- TVS Capital Funds

Smt. Nirmala Sitharaman, Hon’ble Finance Minister, holds a meeting (via VC) with Shri Gopal Srinivasan, Chairman- TVS Capital Funds and Smt Renuka Ramnath, Chairperson- Indian Private Equity & Venture Capital Association, to hear their suggestions regarding the private equity & venture capital industry in India.

October 14, 2020

Story of India’s Largest Rupee Capital Fund

Prime Minister Narendra Modi loves entrepreneurship and believes that India’s freedom fighters of this age are the entrepreneurs, says TVS Capital Funds Chairman and Managing Director (MD) Gopal Srinivasan.

October 13, 2020

Gopal Srinivasan, MD, TVS Capital Funds, in conversation with Shradha Sharma, on his journey of building TVS Capital Funds

Gopal reminisces, “When we started that fund it was more with the idea that look, we need to promote entrepreneurship. Therefore our slogan became - empowering the next generation entrepreneurs.”

September 16, 2020

How has current uncertainty impacted where they choose to put their money? And what does it say about their confidence in a quick economic revival?

Gopal Srinivasan, a highly regarded guru in the family businesses arena and the Chairman and Managing Director of TVS Capital Funds, says for the super-rich the current slump in an economy would at best be like an air pocket in their journey to protect and grow their wealth.

September 14, 2020

Gopal Srinivasan, CMD, TVS Capital Funds, in conversation with Neelkanth Mishra, India Strategist for Credit Suisse

Gopal Srinivasan, CMD, TVS Capital Funds, in conversation with Neelkanth Mishra, India Strategist for Credit Suisse.

July 28, 2020

There are great cos in MSME & consumer lending spaces: TVS Capital Funds

There are great cos in MSME & consumer lending spaces: TVS Capital Funds.

May 12, 2020

Private equity will be a net-gainer in the pandemic

While intrinsic value of business are strong, valuations are expected to lower. In times like these, be it a strategic M&A opportunity requiring private capital or a creative debt / mezzanine solution or distressed opportunities, private equity will be the preferred source of capital.

May 09, 2020

Friends and Philanthropists come together to feed Chennai

Feed my Chennai operation is the largest in the city, and is spearheaded by R. Ramaraj, co-founder of Sify and the Chennai Angels; Gopal Srinivasan, chairman, TVS Capital Funds and eight other core members.

May 02, 2020

TVS Capital Funds’ Investment Committee member, R Dinesh, on recovery from COVID

‘6 to 9 months, even longer for consumption to get back to normal,’ says Dinesh.

April 08, 2020

Gopal Srinivasan On How The Pandemic Changes Things For The Economy

"Gratuitous startups which burn money for no real reason or solve real problems — they will be the first ones to perish," — Gopal Srinivasan, the founder, chairman and managing director of TVS Capital Funds.

February 27, 2020

Gopal Srinivasan appointed honorary consul of Netherlands

Netherlands Ambassador said that Srinivasan has strong network and connections in government, business and academia which plays an instrumental role in bringing both regions together.

January 10, 2020

TVS Capital Funds’ Investment in Go Digit General Insurance Limited

TVS Capital Funds Limited, Faering Capital and A91 Emerging Fund invested in Go Digit General Insurance Limited by way of primary subscription of equity shares.

November 01, 2019

TVS Capital Funds 12th Foundation Day Celebration at the ITC Grand Chola in Chennai.

TVS Capital Funds celebrated its 12th Foundation Day at the ITC Grand Chola in Chennai on November 1, 2019. The theme of the Foundation Day was “Institutionalization”.

August 09, 2019

How will VGSiddhartha's death impact the PE landscape?

Discussions on nuances of interplay ‘twixt entrepreneurs & fund managers, true nature of risk capital, its role in Shri Narendra Modi's $5 Trillion GDP goal.

August 06, 2019

The importance of finding funding

Gopal Srinivasan, Chairman and MD of TVS Capital Funds explains why Investors should not be punished based on one-off events.

July 22, 2019

Taking a LEAP in supply chain management

Our Business Partner, LEAP India, provides solutions for pallet and container pooling. The company has 22 warehouses and 1.5 lakh pallets in all. It has also supplied four lakh totes to its customers, which include major online marketplaces. It has more than 3,000 touch points across the country.

July 09, 2019

TVS Capital Marks 2nd Close Of Third Fund With INR 1,100 Cr In Commitments

TVS Capital has announced the first close of third fund in Oct 2018.PE firm’s third fund portfolio includes LEAP India and Suryoday.

July 09, 2019

TVS Capital hits second close of new fund, to strengthen top management

Homegrown private equity firm TVS Capital Funds Pvt. Ltd has made the second close of its third fund even as it looks to strengthen top management.

July 09, 2019

TVS Shriram Growth Fund 3 announces second close at ₹1,100 crore commitments

TVS Capital Funds  announced the second close of its third venture capital fund - TVS Shriram Growth Fund 3 – after having the target corpus of ₹1000 crore fully subscribed to. The fund has received commitments of ₹1,100 crore.  It has a structure that allows for a ₹500 crore green-shoe option of which ₹100 crore has already been subscribed to and ₹150 crore remains in pipeline.

July 05, 2019

Mr. Gopal Srinivasan, shares his views and expectations on Budget 2019 with CNBCTV18

TVS Capital Funds’ CMD, Gopal Srinivasan, shares his views and expectations on Budget 2019 with CNBCTV18.

June 14, 2019

TSGF 3 invests in LEAP India Pvt. Ltd

LEAP India Pvt. Ltd. Has raised ₹100 crore in fresh funding from homegrown private equity firm TVS Capital.

April 01, 2019

Alok Samtaney joins TVS Capital Funds as Investment Director

TVS Capital Funds is pleased to announce the appointment of Alok Samtaney as an Investment Director, effective 1st April, 2019

 

October 23, 2018

TVS Capital hits first close of ₹832 crore for third fund

TVS Capital's Gopal Srinivasan and former Hindustan Unilever CFO D. Sundaram have invested over 200 crore in TVS Shriram Growth Fund 3

October 22, 2018

TVS Capital completes first close for its third fund, raises ₹8.32 bn

Fund surpasses its first-close target of 7 bn, targets total size of around 10-12 billion

October 22, 2018

TVS Capital overshoots target to hit first close of third PE fund

Homegrown private equity firm TVS Capital Funds Ltd has overshot its target for the first close of its new rupee-capital fund

April 04, 2016

Gopal Srinivasan appointed as new chairman of IVCA

Gopal Srinivasan, chairman, TVS Capital has been appointed as the new chairman of Indian Private Equity & Venture Capital Association (IVCA).

April 04, 2016

PE & VC industry body IVCA names Gopal Srinivasan chairman

The Indian Private Equity Venture Capital Association (IVCA) has elevated Gopal Srinivasan as its new chairman to replace Sanjay Nayar.

March 02, 2016

Not sops but a vast playing field of opportunities: Gopal Srinivasan

Government approved start-ups will now be eligible for an income tax holiday for three consecutive years during their first five years.