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Axis Growth Avenues AIF – I

Axis Growth Avenues AIF – I

A Scheme of Axis Alternative Investment Fund – Category II

Fund Snapshot

Category Category II AIF
Structure Close ended. (All contributors will be locked-in with no intermediate redemption facility available)
Target Size INR500 Cr+ INR 500Cr (Green Shoe)
Investment Manager’s Commitment 2.5% of the corpus or INR 5Cr (whichever is lower)
Term 5 Years from Final Closing, may be extended for two additional periods of one year each
Fund Managers Debojyoti Ghosh – Fund Manager – PGDM from IIM Calcutta and B.E. from Jadavpur University

Unique Platform Approach: Access to Marquee Unlisted Companies

Axis Asset Management

  • Axis is one of the leaders in managing large portfolio of companies in public markets.
  • They have demonstrated capability in portfolio construction, portfolio management and strong performance across their offerings.
  • The Axis team has sourced and invested in a number of unlisted companies across multiple sectors (e.g. NSE, SBI General, Bikaji Foods, Fab India etc.) which have delivered superior business performance over a period of time.
    Due Diligence | Portfolio Selection | Portfolio Monitoring | Exits

LetsVenture Plus

  • Platform enabling exclusive access to India’s top Private Companies & VC Funds with the help of technology
  • LetsVenture Plus has strong connects with Unicorn’s and Soonicorn’s top management leading to exclusive high quality deal flow
  • LetsVenture has a base of 7500+ angel Investors, 200+ family Offices, and 600+ HNIs & UHNIs globally.
    Fund Raising | Deal Sourcing

LetsVenture is India’s leading private market platform. With 8 years of experience, deep entrenchment in the ecosystem and a wide network they are well positioned to tap into high quality deal flow. This access coupled with the strong fund management expertise of Axis ensures a steady flow of high quality investment opportunities in line with the Fund strategy.

About Fund Managers

Debojyoti Ghosh – Fund Manager
PGDM from IIM Calcutta and B.E. from Jadavpur University

Debojyoti Ghosh – Fund Manager

He has over 13 years of experience in private equity investments in India. His previous experience includes BCP (Baer Capital) and Standard Chartered Private Equity.
Before joining Axis AMC, he was heading the India investments of BCP (Baer Capital). Served as Investor Director/ Observer/Shareholder Representative on the Board of multiple investee companies. He has complete private equity fund management experience driving key decision-making around investments, exits and portfolio management strategy. Significant contribution at the Board level in strategy development, scaling up, team building, compensation decisions, change management, capital raising and exit processes.
In Standard Chartered Private Equity he has completed investments across multiple sectors; developed complex investment structures involving different type of deals (primary, secondary, listed, unlisted) and instruments (common equity, convertibles, convertible bonds, NCDs). Highly skilled in negotiation and managing multiple stakeholders in an evolving environment.
He has completed investment exits aggregating ~US$ 435 million across various sectors through IPOs, secondary sale to PE funds/strategic investors and public market transactions. Demonstrated a significant appreciation of the portfolio NAV during the period under management.

Investment Committee

Chandresh Kumar Nigam – MD & CEO, PGDM from IIM Calcutta and B.Tech from IIT Delhi
He has over 23 years of experience in investments function. His previous experience includes TCG Advisory, ICICI Prudential AMC & Zurich India AMC.
As Head – Investments at Axis AMC, he had overall responsibility of Investments function from April 10 – May 13. In this role he managed a team of investment professionals to deliver investment performance across asset classes. He has been appointed as Managing Director and Chief Executive Officer of Axis AMC with effect from May 1, 2013.

Ashwin Patni – Head – Products & Alternatives, PGDM from IIM Calcutta and B.E. from NIT Surathkal
He has over 16 years of total experience including 14 years of experience in Banking and Capital Markets. He joined Axis AMC in 2010 as a Portfolio Manager – PMS and over the years he was elevated to Head – Products & Alternatives. Prior to his engagement with Axis AMC, Ashwin was associated with IDFC Asset Management Company as a Portfolio Manager, Structured Products. He has also worked with Standard Chartered Bank as Product Manager, Investment Services. He was also associated with ICICI Bank, designated as Manager, Syndication.

Investment Thesis

We seek to invest in ambitious founders and supportive top management with scalable asset light model in sectors which have significant potential for upside in next decade & are likely to go for IPO.

Management Team – Strong second level of leadership supporting the Founder

Business Model

  • Rapidly scalable
  • Asset light
  • Significant entry barriers to protect market share/margins

Exit Plan

  • Detailed Exit Plan, discussed with the Founder
  • IPO/ Secondary Exit/ Strategic Sale
  • Part of Initial Investment Thesis

Sector

  • Significant growth potential for the next decade
  • Presently unmet demand.

Founder

  • Backing entrepreneurs with vision, executional capability and highest level of integrity
  • Active engagement with the Founders

Executive Summary

Investment Philosophy

We aim to capitalize on the exponential growth in the digital economy. The fund will look to invest primarily in mid-to-late stage technology enabled companies with scalable business models and a favourable risk-return profile.

Strong Partnership

The fund combines the superior deal-sourcing and investment capabilities of Axis Asset Management and LetsVenture

Selection Criteria

  • Sectors with multi-year growth catering to latent demands
  • Differentiated business model having a strong business moat
  • Dynamic entrepreneurs supported by able management teams
  • Companies with a clear path to profitability with attractive unit economics

Transaction Characteristics

  • Proposed Deal Size: Rs. 25 – 100 Crore
  • Primary and Secondary Opportunity
  • Proposed Portfolio Size: 8 – 10 companies