Srini Srinivasan, Managing Director at Kotak Alternate Asset Managers, and Gopal Jain, Managing Partner at Gaja Capital, said the next phase will focus on domestic capital participation and regulatory alignment across the ecosystem.
The Indian Venture and Alternate Capital Association has announced its new Executive Committee for the 2026 to 2028 term, with Srini Srinivasan appointed as Chairperson and Gopal Jain as Vice Chairperson.
The leadership transition comes at a time when India’s alternate capital ecosystem is entering a more institutionally anchored phase, supported by increased regulatory engagement, improved exit visibility, and a growing share of domestic capital participation.
Data from the association indicates that commitments to Alternative Investment Funds have grown significantly, from ₹0.84 lakh crore in 2017 to ₹13.49 lakh crore in 2025. Domestic limited partners now contribute over 52 percent of capital in Category I and II AIFs, reflecting a shift toward local capital sources.
IVCA said its engagement with policymakers has contributed to developments including co investment frameworks for AIFs, regulatory adjustments, clarity on equity instruments, and tax related measures such as the removal of angel tax and support for IFSC structures.
Srini Srinivasan, Chairperson, IVCA, said, “We are stepping into this term at a pivotal moment for the industry. Strengthening domestic capital formation will be critical to building long term resilience across the ecosystem while continuing to engage with global investors.”
He added that the association will continue working with regulators to evolve frameworks in line with market developments while ensuring sustainable growth.
Gopal Jain, Vice Chairperson, IVCA, said, “The next phase of growth will depend on aligning regulatory clarity, tax certainty, and enabling participation from both domestic and global capital at scale.”
He noted that improvements in capital deployment, exit predictability, and capital recycling are already visible across the ecosystem.
During its previous term, IVCA introduced a Code of Ethics for AIFs and expanded its leadership structure through councils to improve representation across asset classes. The association also strengthened its engagement with global investors through initiatives such as international conclaves and research collaborations.
Ashley Menezes, outgoing Chairperson, IVCA, said the organisation focused on building institutional credibility through consistent engagement with regulators and governance measures.
The newly formed Executive Committee includes representatives from investment firms, venture capital funds, private equity firms, and institutional investors, reflecting the breadth of India’s alternate capital landscape.
IVCA said it will continue to focus on improving ease of doing business, expanding domestic capital participation, and strengthening India’s position as a global fund management hub.
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