Fintech (82%) and enterprise tech (71%) were the top two sectors of choice by a clear majority, followed by other sectors such as Consumer Tech (68%), Healthcare (50%), Agritech (35%), EdTech (42%).
Commenting on the launch of the report, Nimesh Kampani, Co-founder and CEO of trica said, “The rapid expansion of UHNIs and family offices in India coupled with the positive exit scenario for startup investments in the last year has led to a growing appetite among investors to more actively manage their private market portfolios. The inclination of family offices to opt for direct startup investments is a sign of increased acceptance of the asset class given more liquidity, access and transparency reflecting well on the contribution of platforms like LetsVenture and trica that are democratising access and eliminating information arbitrage.”
“As recently as a decade ago, it was commonplace to find UHNIs and well-known business families with no comprehensive plan for their personal wealth, often with unfortunate consequences. Thankfully, the tide is now shifting as has been illustrated in ‘The Private Market Monitor’. As family offices take a better organised and concerted view of building and preserving their assets, this report is a comprehensive guide on understanding and allocating capital to private market opportunities,” Zia J. Mody, Co-founder and Managing Partner, AZB & Partners.
“2021 was an exceptional year for the startup space with over 50% of unicorns being created in India. Perceiving these market dynamics, we took the opportunity to partner with trica for preparing ‘The Private Market Monitor’ on how Family Offices and UHNIs in India are allocating their assets in the private market and their major concerns. The report brings together historical trends, delves into the decision-making process, and highlights how investments are evolving in the private market,” Sudhir Kapadia, EY India Tax Leader.
trica is a LetsVenture company that creates software products for equity management and transactions. trica equity (erstwhile MyStartupEquity) is a SaaS product for cap table and ESOP management with 400+ customers from India, Singapore, and USA. trica capital is a platform for UHNIs and family offices to back growth stage companies and funds. trica is a venture-backed company whose investors include Accel, LC Nueva AIF and Secocha Ventures. LetsVenture, founded in 2013 is India’s most trusted and active platform for startup investments with 7000+ angel investors, a portfolio value of over $3 billion and an Angel AIF with an AUM of over $64 million.
About AZB & Partners
AZB & Partners, one of India’s premier law firms was founded in 2004 with a clear purpose to provide reliable, practical and full–service advice to clients, across all sectors. Having grown steadily since its inception, AZB & Partners now has offices across Mumbai, Delhi, Bangalore, and Pune with over 450+ lawyers. The Firm’s private client practice comprises a dedicated team of senior professionals assisting leading business families, family offices and HNWIs with their personal planning. They advise on intra-family wealth transfers, family disputes, group re–organizations, cross–border planning, collectibles and high–value philanthropic bequests. The team seamlessly leverages other practices of our full–service firm to offer tailored advice to all our clients, while continuing to act as the relationship contact for the family enabling them to bring in a depth of expertise that may not be available to advisors with a more limited focus and provide specialist advice in areas such as real estate, securities law, intellectual property, disputes, forensics, and tax law. Our clients appreciate our ability to address their needs holistically, which has resulted in the development of lasting relationships. The Firm is widely acknowledged for its Private Client expertise and has been ranked as a tier 1 firm by leading reviews such as the Chambers High Net Worth and the Legal 500 Asia-Pacific Guides.
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. As trusted advisors to ambitious business-owning families, including more than 80% of the world’s top 500 family enterprises, EY teams have the experience and know- how to help the entire family enterprise — families, their family business and their family office — pursue growth opportunities while preserving values and building the family legacy. Drawing from more than 100 years of experience supporting the world’s most entrepreneurial families, EY Family Enterprise professionals are experienced in pinpointing and helping to optimize the drivers that impact family businesses’ growth and longevity, preserve wealth and culture, and solidify multigenerational legacies.