Assertion Not checkable as stated
Aavishkaar Capital achieves 3x realized MOIC and 25% IRR
“We stand to at close to three X MOIC on the realized investments. And we clock approximately 25% in terms of IRR as well.”
Insight
Kaushik: Impact investing funds should not compromise on financial returns
“I don't think returns can be compromised just because we are called impact investors. And I'm sure that's true for any kind of PCS-based investing funds.”
Prediction Not checkable as stated
Kaushik: Two to three Aavishkaar portfolio companies will list when markets improve
“So right now we Equitas is one. There are a couple of them who are waiting for markets to improve to list. So there are two, maybe three of them who would list once the market conditions improve.”
Disclosure
Kaushik: Aavishkaar backs institutional professionals over family-run businesses
“So when we say we back first time founders, what we mean is we back a professional entrepreneurs you know, people who have probably been working as a professional in large institutions. Who aspire to become entrepreneurs in their own right. So those are the ki…”
Insight
Kaushik: Venture capital is the business of exits, not investments
“We are not in the business of investments. We are actually in the business of exits, because only if we are able to generate exits and returns for our investors, will we be able to successfully continue raising our funds and then continue investing.”
Insight
Kaushik: Well-diverse teams tend to perform far better than homogenous teams
“Most often enough, you've seen that teams which have a healthy mix tend to do better. And, you know, and now when you read a lot of global literature, you see that it is true that well-balanced, well-diverse teams tend to do far better than very homogenous tea…”
Disclosure
Aavishkaar Capital manages $450M in equity AUM with 32 exits
“We manage close to six funds now. This is across six funds. We have about four and 50 million dollars of assets under management in terms of equity across the six funds. And from the six funds we've made close to 69 investments and 32 full and partial exits”
Assertion Supported
Kaushik: Indian microfinance has expanded to over two lakh crore rupees
“And in the last 1015 years, the sector has really come out very strong. What started off as a few thousand, you know, or a few lakhs in size is now over two lakh crores in sector size, right?”
Assertion Supported
Kaushik: IFC report estimates small business credit gap at $500B
“And so you know, there's also a report by IFC written by IntelliCap Which talk of the missing middle and the credit gap in that missing middle is what they estimate close to about five hundred billion dollars, right?”
Assertion Not checkable as stated
Kaushik: 70% of Chqbook's target small business segment lacked credit cards
“So I was quite surprised to see that 70% of the customer segment did not have access to credit cards, right?”
Assertion Supported
Kaushik: Aavishkaar backed Equitas at the business plan stage before its IPO
“One such example was Equitas small finance bank. When they first came to us they were just a business plan but we really, he had a very compelling story and very strong track record of his own. And so when we started off they just about had the license to begi…”
Assertion Supported
Kaushik: Most of Aavishkaar's successful exits are secondary sales to PE
“So there have been M&A as well, but actually most of our successful exits have come from trade sales to other private equity or other larger funds who have bought out our states. So most of our successful exits have been those so not, not so much on M&A.”
Disclosure
Kaushik: Aavishkaar exited consumer brand Jaypore to Aditya Birla Retail
“We had one very successful exit on M&A when we sold an online consumer brand called Jaipur to Aditya Birla Retail.”
Disclosure
Kaushik: Aavishkaar intentionally ensures gender balance on portfolio company boards
“What we do consciously is we try to create corporate governance. Even at the board levels, we try to ensure there is gender balance on the on boards. We try to bring in senior women leaders who are able to add a lot of value. And then because we also believe t…”
Assertion Supported
Kaushik: Aavishkaar reached nearly $1B in debt and equity assets in 2020
“To say that we started from thirty million and today in 2020, we are close to a billion dollars in both debt and equity assets.”
