Amit varma ved prakash arya president

Team Profile 13

Private Equity in India 18

INDIA BUILD-OUT FUND - I

Team

INDIA BUILD-OUT FUND - I

INDIA BUILD-OUT ILLUSTRATED

	79%			26%	33%	55%		16%	67%
30%									67%
30%									44%

		33%
		33%
	Private Schools	Teachers per	Gross Enroliment	Government	Hospital Beds	Doctors	Healthcare Spend	Healthcare Insurance	Logis�cs Industry	Media Industry
		Student	Ra�o	Spend	(per 1000 Pop.)	(per 1000 Pop.)	(as % of GDP)	Penetra�on
		Educa�on & Skills		Spend	(per 1000 Pop.)	Healthcare, Allied Services & Wellness		Penetra�on


PRIMARY FOCUS		SECONDARY FOCUS
		Infra Ancillary & Consump�on
& Wellness		Infra Ancillary & Consump�on
• Educa�on service providers

– Test prepara�on	• Medical Devices & Consumables

	products
	• Healthcare Technology

NIIT, Veta, Eurokids, Mahesh

Metropolis, Apollo, Sterling,

INDIA BUILD-OUT FUND - I


Seed Stage	Start up	Expansion	Healthcare, Allied Services & Wellness (40%)
Stage		Stage
Growth

		15%		• Strong management team
	30%			• Established revenues with prospects of rapid growth
	25%			• No startups
				• No real estate investments
				• No pure play IT risk
				• No pure play IT risk

4

• JV/M&A strategies

• Subsequent fund raising

• Migra�on from a small business			Exit

	• Standardisa�on of prac�ces for		Strategic
	opera�onal efficiencies		Strategic
	opera�onal efficiencies

	Decision support		• Ini�a�ng Research
	system		• Ini�a�ng Research
• Financial modeling	system		• Shareholder wealth maximisa�on
• Risk management systems	Organisa�on		• Crea�ng mul�ple op�ons including
	structure		trade exits

requirement
Implementa�on &	• Board representa�on &	• Balanced score card development
proof of concept		• Balanced score card development
proof of concept

idea

COMPANY STAGE

FUND DIFFERENTIATION

Milestone Group
• Independent fund house
• Rs 2,700 crores under management

SUPERIOR

• Strong rela�onships	RETURNS
		SIGNIFICANT
entrepreneurial			Educa�on, etc.

	DEAL FLOW
• Established network of
• Established network of
sponsors across India
sponsors across India			consumers
			consumers

TERMS	Size of Fund

		Op�on I: One-�me upfront payment

Op�on II: 20% upfront and subsequent drawdowns of maximum
20% per quarter with 21 Business Days No�ce

	30% compounded, annualised IRR
Commitment Period

	20% of net profits of the Fund
Advisory Fee

INDIA BUILD-OUT FUND - I

			PRESS COVERAGE

8

MILESTONE GROUP

• Owns and operates India’s first privately held REIT-like structure in

• Joint venture with Ecofirst, UK’s leading green/zero carbon emission

• Presence in more than 1,800 loca�on across nearly 500 ci�es

MILESTONE

	BOARD OF DIRECTORS OF PROMOTERS


Sunil Godhwani	Ved Prakash Arya
CEO & Managing Director,	CEO & Managing Director,
Religare Enterprises Ltd.	Milestone Group
• Director in For�s Healthcare, Ranbaxy	• Former Director & COO, Pantaloon Retail,
Laboratories, AEGON Religare Life Insurance

Prof. Rishikesha T Krishnan

	Dr. Amit Varma	Rajesh Singhal

11

INDIA BUILD-OUT FUND - I

Managing Partner	A S Shivram		President, Healthcare Ini�a�ves,
Nilesh Modi			Religare Enterprises
Nilesh Modi				Dr. Preet Pal Thakur	Archit Garg

Investment Commi�ee

• Set up two realty funds: Kshi�j and Horizon totaling US$ 435 mn for Pantaloon (Now Future Group)
• Founding Director, Retailers Associa�on of India
• 16 years of experience in running companies in the Indian Real

• Director, Cri�cal Care Medicine of For�s & Escorts Hospitals

• MBA, IIM Ahmedabad; AMP, Harvard

– Former Health Consultant to World Bank and European Commission on opera�onal efficiencies

INDIA BUILD-OUT FUND - I

Rajesh Singhal	Amit Sarup	TEAM PROFILE

• 8+ years of inves�ng experience with Intel Capital
• Full life cycle experience of private equity across different sectors

• Director at Religare Macquarie Wealth Management
• Former VP, Wealth Management at the Kotak Mahindra Group

• Extensive Board level experience of managing por�olio companies

• 5 years of project/corporate finance, distress debt restructuring
experience with ICICI Bank

INDIA BUILD-OUT FUND - I

TEAM PROFILE		Ni�sh Aggarwal

• Been in the PE industry since early days (1991) and invested over Manufacturing

economic cycles • Exposure to handling all the aspects of Fund management from

Capital, Ac�s • More than 5 years experience at investments and exits across sectors

• Full life cycle experience of private equity across sectors in the public markets

– Created and exited a successful manufacturing organisa�on– Created and exited a successful financial services
organisa�on, taken over by Share Khan

• Worked on many high profile interna�onal investment cases and projects focused on Private Equity / Venture Capital and Real Estate

INDIA BUILD-OUT FUND - I

		TEAM PROFILE
		A S Shivram,Associate,
	Milestone Religare Investment Advisors	Milestone Religare Investment Advisors

across clinical prac�ce and Investment Banking Deutsche Bank in London

• 2+ years with J P Morgan in healthcare • Prior experience in sectors – Real Estate and

• MBBS, Govt. Medical College, Pa�ala


INDIA INFOLINE

• Founded in 1995 and in 2000 started offline financial distribu�on business as well as got

• Founded in 1983, started floppy
manufacturing in 1988 & CD manufacturing

the world

• Reason for investment
– Experienced management, proven
business model, strong R&D
– Global vision and adaptable to changing business scenario, hunger for growth

onwards in mul�ple rounds and exited post • JF Electra Partners invested $8 mn in 1998

IPO genera�ng 7x & already realised 7x