Vivek Kumar Sharma

We have ~1 crore Indians with ₹1 crore+ in investible wealth, but only 10,853 relationship managers (RMs) across the entire industry. That's nearly 1,000 wealthy families per RM. While wealth management in India races toward $2.3 trillion in assets under management by 2029, the math is stark, we have a massive talent deficit. So we're taking the harder path—the better path. This month, we welcomed our latest batch of 96 Management Trainees at Dezerv, bright and hungry minds from India's top B-schools who now represent 20% of our workforce and, more importantly, a small but important part of the future of wealth management in India. Developing full-service private banking professionals demanded we rethink training entirely. We assembled teams from investments, client relations, product, tech, governance, and compliance to design our MT program from scratch, what we believe is the most comprehensive in the industry. The result? A program mastering first principles, from capital markets foundations and portfolio construction science to the ethics of fiduciary advice. Our most experienced RMs are dedicating 4-5 hours daily mentoring them through real client interactions, teaching them to "see the chessboard" across every asset class and risk premium. Because wealth management ultimately solves one problem: preserve and compound a client family's total balance-sheet, across generations, while removing friction and anxiety. It's painstaking. It's resource-intensive. But it's what this industry desperately needs. As someone who's spent two decades in this space, I know that great wealth managers aren't born, they're carefully crafted. And that investment in human capital? It's the most important one we make. Kudos to the entire team who've worked tirelessly behind this initiative: Smitha Channabasavaiah, Aditya Surana, Sonal Singh, Suhail Vadgaokar, Jigme Bhutia, Aditya Jain, Meghraj Ghogre, Vivek Gupta, Shyla Mathur, Nikhil Ramesh, Avinaash Modi, Krishna B S #Fintech #WealthManagement #Leadership #Dezerv #FutureOfFinance #Relationship

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Today SEBI notified regulations for mutual funds to offer alternative strategies as specialised investment funds (SIF) at a 10 lakh minimum. 10 key implications: 1. Investors will see innovation in the long/short category. SIFs can do long biased & market-neutral long short across stock selection, sector rotation and asset class timing. The possibilities are vast and we may get world class absolute return funds. 2. Balanced advantage & multi asset funds will see competition for share of wallet from moderate risk investors. 3. Advisors will need to upgrade their understanding of derivatives and modern capital markets to keep up with clients. 4. Category III AIFs that do derivatives will struggle to remain relevant with unfavourable taxation. Unless the maximum leverage is raised beyond 2x. 5. There will be a talent war for alternative fund managers with proven track record. There are maybe ten fund managers who could potentially be the CIO of a SIF. 6. Long-only PMS portfolios offered to accredited investors at 10L will be unaffected. Long-only portfolios in general are unaffected. 7. The credit default swap market in India will get institutional support to develop. 8. Alternative asset managers will increasingly seek mutual fund licenses like PPFAS, Helios and others have done. 9. Derivative strategies being offered to retail investors via broking platforms will move to the better regulated and better managed SIFs. 10. SIFs are being offered adjacent to the mother mutual fund brand - a great move to convey trust but also reduce reputational risk. Ionic Wealth Srikanth Subramanian Shobhit Mathur Dharmendra Jain Kamakshi Iyer Gaurav Aggarwal Harsh Gupta Madhusudan Ankita Pathak Abhishek Murarka Yajash Mehta Piyush Thakkaar Siddharth Khatkhate

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Hidden Gems of India | Company 2: Power Finance Corporation Ltd. Continuing our Research Series: Hidden Gems of India, today we spotlight a PSU that has quietly become one of the strongest pillars of India’s infrastructure financing landscape — Power Finance Corporation Ltd. (PFC). Since 1986, PFC has evolved into a Maharatna NBFC powering India’s energy transition, renewable expansion, and large-scale infrastructure projects. With the Government of India holding a 56% stake, its strategic importance to national development is undeniable. What makes PFC a true hidden gem is its consistent and disciplined financial performance: ✔️ Revenue CAGR: 8.25% ✔️ EPS CAGR: 9.38% ✔️ Book Value CAGR: 8.87% ✔️ Market Cap: ₹1.19 lakh crore ✔️ GNPA: 1.94% | NNPA: 0.39% ✔️ CRAR: 32.66% — a testament to robust financial stability Strong government backing, leadership in renewable energy financing, disciplined asset quality, and fintech-driven innovation make PFC a standout in the infrastructure financing space. In an era where sustainable financing is shaping the future, PFC continues to demonstrate operational excellence, sector dominance, and a long-term commitment to India’s growth story. This series highlights fundamentally strong Indian companies that often go unnoticed — not as investment advice, but as research-driven insights. PRABINA RAJIB Dr Ruchi Arora Nikhil Srivastava #HiddenGemsOfIndia #ResearchSeries #PowerFinanceCorporation #PFC #InfrastructureFinancing #Maharatna #IndianEconomy #RenewableEnergy #FinancialInsights #IndiaGrowthStory #PSU #LongTermValue #FinanceResearch

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India’s investment landscape has just evolved. SEBI has launched a new investment category: Specialised Investment Funds (SIFs), and they could change how High-Net-Worth Individuals (HNIs) invest. ➡️ What are SIFs? - SIFs are professionally managed, pooled investment vehicles. - They offer flexibility and sophistication like PMS or AIFs, but under SEBI’s mutual fund framework. ➡️ Why were SIFs introduced? Well, tbh, until now, Indian investors had a gap: - Mutual Funds were easy to access, but restricted in strategy. - AIFs (Alternative Investment Funds) offered advanced strategies, but required ₹1 crore+ minimum. - SIFs bridge that gap, with a minimum investment of just ₹10 lakh. ➡️ What can SIFs do that Mutual Funds can't? - Run long-short equity or sector-rotation strategies. - Use derivatives (up to 25% of net assets) for hedging or alpha. - Invest in REITs, InvITs, debt, or thematic opportunities. - Design customised portfolios with broader asset-class exposure. - These are tools not available in regular mutual funds. ➡️ Why should you choose SIFs? - More Flexibility: Complex strategies for growth and downside protection. - Broader Diversification: Access equity, debt, REITs, and more in one vehicle. - Lower Entry Barrier than AIFs: Minimum investment is ₹10 lakh (vs ₹1 crore for AIFs). - Professional Oversight: Managed by top-tier CIOs and fund managers with proven track records. - Liquidity Options: Open-ended, close-ended, or interval-based redemptions. - Transparent Pricing: Daily/periodic NAVs, standard disclosures, and regulated expense ratios. ➡️ Who should consider SIFs? - HNIs and emerging affluent investors are looking for more than mutual funds. Investors seeking regulated exposure to hedge-fund-like strategies. - Those who want customised sector plays or alpha-focused strategies without committing ₹1 crore to an AIF. - The only catch is that fees may be slightly higher than standard mutual funds (due to complexity). SIFs are still under SEBI-regulated caps and far more transparent than PMS or AIF models. ➡️ Who has launched SIFs as of now? - Edelweiss Asset Management Limited has received SEBI approval and launched 'Altiva SIF' under its new platform dedicated to SIF offerings. - Other major players, such as Quant, Axis, and Nippon, have announced plans to enter the SIF space. ➡️ Closing thoughts - SIFs are for the smart investor who wants the best of both worlds. The regulatory clarity of mutual funds and the strategy depth of AIFs. - If you’ve outgrown basic mutual funds but aren’t ready for a ₹1 crore AIF. SIFs may be your next big move. Follow Dwipa Shah for more insight like this. At AND Fintech, we help investors build strong foundations and invest with clarity, not confusion, because we follow Real strategies & Ethical advice.  Send a Hi on WhatsApp +91 7700935025 or Email at Info@andfintech.in Visit our website: https://andfintech.in/  #Investing #SEBI #SIF #MutualFunds #AIF #HNIs #WealthManagement

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Fleetx Raises ₹113 Cr in Series C: Powering the Future of Logistics with AI & IoT! I’m thrilled to announce that BEENEXT’s Accelerate Fund has doubled down on our investment in fleetx.io, co-leading their ₹113 Cr ($13.2M) Series C round alongside our partners at IndiaMART InterMESH Limited. This milestone marks another chapter in our unwavering belief in Fleetx’s vision to transform fleet and logistics operations through cutting-edge AI and IoT solutions. Since our initial investment, we’ve watched Fleetx evolve into a powerhouse in the logistics SaaS space. Here’s why we’re so excited about their journey: Remarkable Growth: Fleetx has scaled well since their Series B, crossing ₹100 Cr in ARR—a testament to their strong product-market fit and disciplined execution. With over 2,000 clients, including marquee names like Adani, Unilever, and Vedanta, Fleetx is becoming the go-to platform for digitizing logistics operations in India. Financial Discipline: With remarkable operating revenue growth, reduced EBITDA burn, company is targeting EBITDA breakeven in FY26. This capital-efficient growth sets a strong foundation for their next decade's journey. AI & IoT Innovation: Fleetx’s platform leverages vast logistics data to solve complex industry challenges, from vehicle tracking and predictive maintenance to safety and digital documentation. Their AI-driven insights are redefining efficiency for mid-market and enterprise clients, aligning perfectly with the digital transformation wave in India’s $400B+ logistics sector. IPO Readiness: With this funding, Fleetx is accelerating product development and scaling its enterprise sales engine, eyeing IPO readiness within two years. At BEENEXT, we back founders who combine deep industry understanding with capital-efficient growth, and Vineet Sharma and the Fleetx team embody this perfectly. Their metrics-driven approach and ability to deliver measurable value to clients like Ultratech Cement and Godrej make them a standout in India’s SaaS ecosystem. As Dinesh Agarwal, Founder & CEO of IndiaMART, aptly said, “Fleetx’s AI- and IoT-powered platform is becoming the operating system for the physical movement of goods.” We’re proud to continue this journey with Fleetx as they build a durable, resilient, and competitive SaaS company from India. Congratulations to the entire Fleetx team on this milestone. More about Fleetx’s Series C: https://lnkd.in/gbWEyRkK CNBC interview: https://lnkd.in/gx22cD_g #LogisticsTech #SaaS #AI #IoT #FleetManagement #StartupIndia #SeriesCFunding #IPO #IndiaMART #BEENEXT #Innovation #Entrepreneurship #TechForGood #DigitalTransformation Vineet Sharma Abhay Jeet Gupta

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Early-stage investor Transition VC has closed its first fund at ₹700 crore, nearly double its initial target of ₹400 crore. The fund received commitments from institutional investors, corporates, family offices, strategic partners, and industry leaders. Raiyaan Shingati | Mohammed Shoeb Ali 🔗 Read full article link in comment #transitionVC #investment #vc #funds #startupnews

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🔬 BYT Capital Launches Maiden ₹180 Crore Deep-Tech Fund Deep-tech focused VC firm BYT Capital has launched its maiden ₹180 crore (Category II AIF) fund to back early scientific and engineering innovation. Founded by Amit Chand, Dinesh Kumar, and partners, the fund has already secured over half its corpus. BYT Capital plans to invest in 18 to 20 startups, offering initial cheques between ₹3 crore and ₹6 crore. A substantial 55% of the fund is reserved for follow-on rounds to help portfolio companies scale their technologies globally. The firm targets intellectual property-led innovation across sectors like space technology, life sciences, robotics, and clean energy. Founder Amit Chand emphasized that "DeepTech is the new infrastructure layer... It enables strategic independence, propels high-value manufacturing, and strengthens India's position in global frontier innovation." Read the story: https://ow.ly/E00l50XHjg4 #DeepTechFund #VentureCapital #InnovationIndia #TechStartups #StartupEcosystem #CleanEnergyTech #SpaceTechnology 

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Big Move in India’s Jewellery Retail Space! Warburg Pincus is set to re-enter the Kalyan Jewellers group with an ₹850 crore investment for a 10% stake in Candere, its lifestyle jewellery brand. Key Highlights: 1. Valuation Surge: Candere’s value has jumped from just ₹40 crore in 2017 to ~₹8,500 crore today. 2. Growth Strategy: Plans to add 80–90 new franchise-led stores across India, tapping into the demand for branded, affordable jewellery. Performance: Q1FY26 revenue up 67% YoY (₹66 crore), with profitability expected by FY26-end. 3. Industry Context: Jewellery retail, especially lifestyle and lab-grown diamonds, is attracting strong capital flows (Giva, Aukera, BlueStone). This move positions Candere as a key growth engine for Kalyan Jewellers, backed by one of the most reputed global PE investors. For investors, this signals growing confidence in India’s shift towards organised, branded jewellery consumption.

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The 2015-18 vintage of India-focused PE/VC funds is wrapping up, with public markets driving historic exits. Top-tier funds achieved stellar 3.5x-4.0x Net DPIs through strategic ownership, timely exits, and a focus on profitable leaders. Meanwhile, median and lower-quartile funds struggled, delivering 1.0x-2.5x due to dilution and poor sector bets. In 2024, IPOs raised ₹1.23 lakh crore, with 68% from Offer for Sale (OFS), reflecting a market prioritizing exits over growth funding. By 2025, investors demand profitability and reasonable valuations, creating a two-tier market. The Indian PE/VC landscape is reset, with new funds prioritizing unit economics and conservative valuations. #PrivateEquity #VentureCapital #IndianMarkets #IPO #Investing #Finance #CapitalMarkets #BusinessStrategy #InvestmentTrends #IndiaEconomy

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Thrilled to announce the launch of Ironclad Ventures Fund, our second investment product under Ironclad Asset Management — a ₹200 Cr SEBI-approved fund dedicated to Employee Secondaries. Why does this matter? In India, most venture-backed startups allocate 5–15% of their cap tables to ESOPs, yet liquidity for employees is rare and ad-hoc. For too long, ESOPs have been treated as “paper money,” leading to weaker belief in equity ownership and misaligned incentives. Ironclad Ventures is built to change that. We partner with leading VC-backed startups to offer structured, repeatable liquidity programs, so employees can partially monetize their equity while continuing to hold long-term upside. This liquidity massively increases employees' belief in ESOPs. For companies, this reduces the pressure to constantly increase cash salaries, strengthens retention, and sends a credible signal of wealth creation via ESOPs to future hires. We will take a diversified approach — backing 30–40 high-quality startups across fintech, consumer, SaaS, AI, and digital infrastructure with small ESOP secondary cheques of ₹1–4 Cr for Seed to Series B startups. Our aim is simple: 1. Improve the belief that employees have in ESOPs and unlock some wealth for the people building India’s breakout companies 2. Preserve founder alignment and cap-table integrity 3. Enable Indian HNIs & family offices to access the innovation economy This launch follows the success of our first product, the Ironclad Flexicap PMS, which has grown capital at ~20% since inception in Jan 2025, in a difficult year for capital markets. With Ironclad Ventures, we extend our disciplined investment philosophy into private markets. #Ironclad AMC #VentureCapital #ESOPs #Secondaries #WealthCreation #InnovationEconomy https://lnkd.in/gqWkh_-m

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RBI's Relief for Infra Financiers For years, managing infra project financing has been complicated, with unclear rules and regulatory challenges. But the good news is that RBI is simplifying things. Starting October 1, 2025, the new RBI (Project Finance) Directions, 2025 will come into effect. Here are the key changes: - 1% standard asset provisioning for under-construction projects. - 1.25% provisioning for under-construction commercial real estate projects. - Increased the limit for extending the Date of Commencement of Commercial Operations (DCCO) to: - Up to three years for infrastructure projects. - Up to two years for non-infrastructure projects. RBI has also laid down rules on the minimum contribution each lender must make to a project’s total loan amount: - 10% of the total loan for projects up to ₹1,500 crore. - 5% or ₹150 crore (whichever is higher) for projects over ₹1,500 crore. This ensures that no single lender is taking on too much risk and that there is enough participation from different lenders in large projects. I believe these changes will help create a stronger, more transparent financial system for future infrastructure projects and boost India’s growth. #choice #nbfc #banking #finance

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No more windfall cheques. SEBI wants distributors to earn it the hard way. On 8th August 2025, SEBI scrapped the “transaction fee” that AMCs paid distributors on investments above ₹10,000. Sounds big? In practice, it wasn’t. Distributors earned a flat ₹100–150 per subscription — whether the cheque was ₹10,000 or ₹1,00,000. Compare that with trail commissions: typically 0.5%–1% of AUM annually (₹500–1,000 every year per lakh invested). That’s where the real money sits. So yes — this transaction fee was more a rounding error than a business model. Why SEBI killed it anyway Because symbolism matters. Extra fees, no matter how small, complicate the structure and quietly drag investor returns. Scrapping them signals a clean shift: - Distributors are agents of AMCs, already compensated via commissions. - Investors deserve transparency — every rupee working for them, not funding redundant payouts. - The industry moves firmly toward a trail-only, relationship-driven model. Mutual fund distribution in India is now about playing the long game. You don’t get paid for bringing in a big cheque once. You get paid for keeping clients invested, building trust, and growing AUM year after year. SEBI just buried the last shortcut. From here on, only advice-driven businesses will thrive. #SEBI #MutualFunds #Investing #WealthManagement #Distributors

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