Klaas Oskam

It is often said that Impact investing does not deliver financial returns. At C4D Partners, we are proving this wrong. Our Fund 1 has already achieved a 51% DPI on the India portfolio within 6 years of fund life, delivering a robust IRR. We’re not just about investing for impact, but also prioritizing strong, sustainable financial returns. We carefully select companies that are cash flow positive and demonstrate a clear path to profitability within a couple of years of our investment. This has enabled us to keep our mortality rate under 20%, lower than the industry average. Our approach - We invest in early-growth stage companies that are well-governed and on a clear path to positive cash flows, and be there for the long haul. Our approach comprises not just capital infusion, but active involvement in fostering a culture of transparency, operational excellence and sustainable value creation. We position our investments for sustainability and success in an ever-evolving market. If you’re a startup or investor interested in partnering with us, or just curious to learn more, let’s connect. Mirakle Couriers, Ecotasar, LabourNet, Saahas Zero Waste, Aarohan , 1BRIDGE, Ananya Finance, Freyr Energy Services Pvt Ltd #VentureCapital #Startups #SMEs #GrowthCapital #InvestmentStrategy #C4DPartners

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Both the abolishment of angel tax as well as the harmonisation of long term capital gains tax between listed and unlisted shares are strong positive moves for Indian start-up eco-system, onwards!

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Thank you, ET NOW for airing my views on the #SMEExchange where I predict a massive potential for a #ReverseCrash (a not-so-well-established economic theory). A "Reverse Stock Market Crash" is a rare event where the value of a #financialmarket increases suddenly and significantly. This is the opposite of a stock market crash, which is a sudden and dramatic decline in the value of a financial market. Key aspects include: 1) Rapid price increases: #Stock prices rise dramatically and quickly across a broad range of companies or sectors. 2) Disconnect from #fundamentals: The surge in prices is not justified by companies' actual financial performance or #economic conditions. 3) Speculative behaviour: Driven largely by #investor speculation and fear of missing out (#FOMO) rather than rational analysis. 4) Potential #bubble formation: The rapid rise may indicate the formation of a market bubble that could eventually burst. 5) Increased #wealthinequality: As stock prices soar, those already invested in the market see their wealth grow rapidly, potentially widening the gap between investors and non-investors. 6) Risk of sudden correction: The artificially inflated prices are at high risk of a sharp correction once reality sets in. #DejaVu- The state of euphoria we see at the SME exchanges daily!!! While the SME Exchange has provided a valuable platform for smaller companies to access capital markets, the current trends indicate potential risks. The unusual upward movements in SME stocks, coupled with regulatory warnings and broader concerns, suggest a possible correlation between the state of the SME Exchange and the risk of a "reverse crash" scenario. Investors should exercise caution, focus on fundamentals, and be prepared for potential sharp corrections if market sentiment shifts. Fortunately, with sane management at #RBI we at least have inflation and debt management in check; so the scenario will differ. I'm just glad that this unprecedented enthusiasm for #SME stocks has finally raised eyebrows & much-needed red flags. #smeipo #sme #ipo #fundraising #merchantbanker #nse #bseindia #funding #bse #sharemarket #stockmarket #listing #msme #equitymarket #startup #smelisting #bsesme #equityinvestment #equityfunding #wealthbreaker

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Super excited to welcome back Prof Aswath Damodaran for a second year on TRIUM Angels Ascend Program and R3i Venturers. 9 Key Takeouts from our workshop on #StartupValuation 1. Numbers Meet Storytelling: Every valuation starts with a narrative. You can't understand a company's value if you don't know the story behind it—whether it's a growth market, a disruptive force, or a brand with cultural cachet. Your company isn't just about products and financials; it's about where it's going and why. 2. Revenue Growth & Target Margins: Growth potential is sexy, but profitability is the goal. Investors care about the path to target margins. Can you scale without bleeding cash? Show them the road—profitable, and efficient. 3. The Corporate Lifecycle: Understand where the company is—startup, growth, maturity. Different phases need different strategies, different stories. Not every company is meant to be the next Nvidia, but every company needs to understand where it stands. 4. A Good Narrative: Keep it simple, make it compelling, and hook the audience. Nobody remembers buzzwords, but they do remember a powerful story about unmet needs and market gaps. Make it memorable, not just measurable. 5. The Runaway Story: Charismatic leadership, disrupting an unliked status quo, with a bonus benefit for society? That's a formula for a runaway narrative. People root for the underdog—and that includes the market, sometimes even irrationally. But be careful—don't let hype override rationality. 6. Check the Narrative Against Reality: A great story is compelling, but it’s even better when backed by numbers and common sense. Always pressure-test your narrative—does it hold up to market dynamics, macro factors, and historical precedent? 7. Link Story to Value: If it doesn’t impact cash flow or risk, it doesn’t impact value. Make sure every part of your story affects a key value driver—revenue, margins, reinvestment. The narrative must translate into financial outcomes. 8. Keep Feedback in the Loop: Defending your narrative without critique is a one-way ticket to poor decisions. Open yourself to opposing views—have the people who disagree with you the most challenge your assumptions. Hubris kills investors. 9. Be Ready to Adapt: Market conditions change, competition moves, your strengths may turn into weaknesses. Always be ready to adjust the narrative—because what works today may not work tomorrow. Huge thanks to Professor Aswath Damodaran sharing knowledge this #Deepavali on TRIUM Angels program. What does it take to be the most loved Corporate Finance Professor on the planet? A heart of #servantleadership, #passion, #humility, and a consistent commitment to  #accessibility, #disruption, and #excellence. The spirit of TRIUM Global Executive MBA and our fellow alumni at NYU Stern School of Business HEC Paris and The London School of Economics and Political Science (LSE) shines brightly this #deepavali.

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Excited to announce that we at Athera Venture Partners (formerly Inventus India) have secured a major capital commitment from HDFC AMC Select AIF FoF I Scheme for our ₹900 crore Fund IV. This milestone is particularly special as HDFC AMC, one of the most respected fund houses in India, joins a strong lineup of Limited Partners, including prominent Indian family offices and international foundations, who share our belief in backing bold entrepreneurs driving innovation. With this fund, we are committed to partnering with exceptional founders building category-defining companies in India across Consumer Internet, Enterprise Software, AI, and other emerging technologies. From this fund we’ve already made investments in promising startups like Ati Motors, Terra , ClickPost, CynLr, Hyperbots Inc., and Billion Hearts Software Technologies We are deeply grateful to HDFC AMC and all our LPs for believing in our vision and supporting our mission of enabling the Indian startup ecosystem. A big thank you to all the incredible founders, past and present, who have trusted us to be part of their journey—we wouldn’t be here without you. We’re excited about the journey ahead and look forward to backing many more transformative startups from India Read more about the announcement here: https://lnkd.in/gYC8Yk84 Samir Kumar Parag Dhol Rajiv Mehta Ishan Sinha Anshu Pandey Kavya Prudhvi Tanya Sequeira CA Kaushik A Mangala Jois #VentureCapital #Startups #TechInnovation #AtheraVenturePartners #HDFCAMC #Entrepreneurship

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A significant milestone on the Sarvagram journey and we are very excited to continue our support to the stellar team. When we invested in 2022, we saw a distinctive company which was serving an unaddressed segment in a very large market i.e middle class households in rural India. The narrative around rural financing has primarily focused on farmers and low-income populations. However, there's a huge gap in addressing the needs of the aspirational rural middle class—the 80-100 million households with annual incomes ranging from ₹3-5L, spread across multiple income sources. This demographic is eager to improve both their income levels and quality of life, yet their financial needs have often gone unmet. Banks and microfinance institutions have targeted agriculture or low-income women but the rural middle class is a large whitespace. Though they may have access to product financing like two-wheeler or car loans, a significant portion of their aspirations remains unaddressed. SarvaGram is stepping into this gap with a holistic, customer-centric platform that offers a diverse range of financial services—from lending products and farm mechanization solutions to insurance offerings — as opposed to a mono-line strategy, which we believe works better in denser urban markets. In addition to our thesis on rural lending, we have found working with the stellar team, led by Utpal Isser and Sameer Mishra, a collaborative and insightful partnership. Their exceptional execution and understanding of the rural market have enabled SarvaGram to create lasting impact and drive sustainable growth. It has been equally enjoyable to learn from their experiences and we truly appreciate the openness of team. We have also appreciated working with our co-passengers from #Elevar, #Elevation and #Temasek and look forward to the #Peak XV team. With this fundraise, SarvaGram is on track to continue its impressive growth trajectory and we are excited to be part of this journey of SarvaGram driving meaningful change for rural middle-class households. Utpal Isser SarvaGram Sreeraman V TVS Capital Funds #FundingSuccess #RuralIndia

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Holy Grail of Asset Management Companies are returns and governance. Any miss on either of them creates an outflow of capital.. which can break the AMC... Case in point in India... Quant MF and Franklin Templeton MF... Very recently papers reported that a big PMS firm in India is facing redemption pressure more for returns issue... In US, Franklin Templeton reported outflows of $37 Billion in last quarter due to governance lapse on derivative trades #sec #amc #markets

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A series where we highlight Gemba Capital's Portfolio companies' every week. Simple post - no gyaan and no bakwaas :) This week meet Pramod Rao and Abhishek Nalin from Threado AI Kamini Shivalkar Aditya Vargante Govind Lohia Vipul Rawal ↗️ ️Anupreet Singh 📈 Sujoy Chakravarty #meetourportfolio #earlystage #venturecapital #startups #tech #india #portfolio

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India/SE Asia-focused private markets fund manager Everstone Group adds to their executive ranks former Indian sovereign wealth entity National Investment and Infrastructure Fund (NIIF) Managing Director and CEO Sujoy Bose, who was also previously Global Head of Infrastructure and Natural Resources at leading Washington DC-based development finance institution IFC - International Finance Corporation. This is a significant move at a significant inflection point for Everstone Group who have been investing in India, SE Asia and the US as one of the few remaining early market movers since 2007 with strategies across #privateequity, #renewableenergy and #climate #infrastructure, #realestate, #logistics, and #growthcapital. While India fund returns to limited partners, especially on a US dollar basis, have had challenges pre-2014, Everstone Group India's more recent Fund III and Fund IV seem to be making commendable progress and I have heard praise from co-investors in #japan and #unitedstates for successful realized co-investments in India with Everstone Group. With India being one of the more sought out markets for private and public capital investors, it will be interesting to track Everstone Group's further realizations to LPs and fundraising plans. You should too! #alternativeassets #privatemarkets #india #singapore #seasia #fundmanagers #capitalmarkets #fundraising #japan https://lnkd.in/g3yXuWib

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Glad to have advised on the largest healthcare delivery M&A in India - definitive agreements signed for USD ~5 Bn merger between Aster DM Healthcare and Quality Care India to create one of the top 3 hospital chains in India. https://lnkd.in/gpRFtEP6

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Private equity and venture capital investments in India reached $47 billion in October, marking a 4% increase from last year. This growth reflects not only investor confidence but also India's expanding role in the global shared economy. But the benefits go beyond individual businesses, therefore sectors like technology, healthcare, and sustainability gain momentum. We see this as a testament to how India's growth is shaping the future of global markets. This progress strengthens India's position as a key player in the global economy, and that contributes to a more connected and collaborative world. #PrivateEquity #VentureCapital #IndiaEconomicGrowth #GlobalSharedEconomy

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India is a private markets topic on the minds of allocators across categories around the globe, and the continued sophistication and maturity of the market is truly remarkable. ChrysCapital have one of the longest tenured and outstanding investment track records in the India market, and leading this $700-million continuation fund anchored by world-class global private markets allocators HarbourVest Partners, LGT Capital Partners and Pantheon for a stake in India's National Stock Exchange of India Limited (NSE India) is a testament of India's suitability and attractiveness for institutional investors. This marks the largest of its kind transaction in India, being well oversubscribed and ranks among the largest across the Asia Pacific. UBS' Private Funds Group served as exclusive advisor to ChrysCapital. This is also particularly notable as they are the market leader in Asia continuation funds, in my opinion. The stake originally belonged to ChrysCapital Fund VI which invested in NSE India in 2016 and will continue as a significant, long-term shareholder in the company through the Continuation Fund. Creation of DPI to limited partners - The transaction provided Fund VI investors an opportunity to monetise the performance on a highly successful investment, while allowing continuation fund investors the opportunity to invest in the world’s largest derivatives exchange. As part of the transaction, Fund VI investors were also provided an option to roll their value into the Continuation Fund. Look for more continuation vehicles and increasing global institutional investor activity in India's private and public markets! Congratulations to all! #fundmanagers #india #indianmarket #asiapacific #secondaries #institutionalinvestors #capitalmarkets #distributions #liquidity #limitedpartners #fundraising #alternativeinvestments #privatemarkets https://lnkd.in/gqGFRF3v

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Advent International is investing INR 2475 cr (~$3bn) in Apollo Hospitals's subsidiary, Apollo HealthCo. The transaction will also see the merger of its wholesale pharma distribution unit Keimed Private Limited and online healthcare business Apollo 24|7 under Apollo HealthCo. The background: Apollo HealthCo= Keimed (B2B pharma distribution) + Apollo 24 7 (online pharma) Apollo HealthCo, the digital health and services business of Apollo Hospitals, has been pressuring the hospital operator's bottom line, hurt by its cash-guzzling pharmacy business Apollo 24/7. Apollo HealthCo posted a loss for the sixth straight quarter in February. Advent International is a global PE with 17 investments (~$5.8bn since 2009) in India (12 current, 5 exits). Its other Indian healthcare investments include Cohance Lifesciences, Suven Pharmaceuticals and Bharat Serums and Vaccines Limited. Is it a good deal? The market doesn't think so! Shares of Apollo Hospitals Enterprise dropped 8% in opening trade on Apr 29 as investors were disappointed with the valuations offered in the deal. According to the deal, it valued Apollo 24 7 at $1.7bn and Keimed at $9.6bn Nuvama Group said while the deal was long overdue, the valuation commanded by Apollo 24/7 at $1.7 bn is lower than the estimated $2.7 bn. It not only comes as a negative surprise but also a huge letdown. The brokerage also said doubling Keimed's valuation for the deal, just within a year also seemed aggressive. Jefferies also shared the same view on Apollo 24 7's valuation While Prabhudas Lilladher Private Limited also acknowledged that the stake sale of Apollo HealthCo was done at a discounted valuation, it sees the merger of Keimed with the arm as a positive step as it removes overhang of any cost leakages. That with the added management guidance of growing EBITDA gives them comfort Future Outlook: According to the management commentary, the combined entity is expected to deliver Rs 25,000 ($3bn) crore of revenue in 3 yrs with 7-8% EBITDA, up from around Rs 13,600 crore and 1.5% now. This is an EBITDA growth of about 9x in 3 years! This growth will be achieved through Apollo 24/7 breakeven in ~2 years, higher margin realization through supply chain efficiencies, and accelerated growth in the private label business Though pharmacies in India are growing at 12% YoY, Apollo believes that large players like themselves can easily grow at 20-25% YoY It seems that Apollo was a bit desperate to inject in money and was okay with taking a slightly below-par deal. That said, this deal should reduce the drag from 24/7's operating cost (and cash burn) and strengthen both its pharmacy and hospital businesses. The merged entity could also leverage Keimed’s over 70,000 store network to push private label sales and unlock synergies. #healthcare #apollo #advent #privateequity #india #apollo247 #pharma #pharmacy

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We at LeapFrog Investments are strong believers in the India story for impact investments. As I mentioned to Jaden, India has a lot of potential. It’s not a five-year story, it’s hopefully a 25-year story.... the reasons being growth, depth of talent, digital public infrastructure, and the depth of capital markets. Thanks to Jaden Paul for the interview in Business Standard. Read it here: https://lnkd.in/gyV-UTAv

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Exciting News in the World of Asset Management! Nurture Well Foods recently secured a significant Rs. 50 crore investment from India Inflection Opportunity Fund, a pre-IPO fund of Pantomath Financial Services Group, showcasing the immense potential for growth in innovative ventures. This remarkable milestone is a testament to the power of strategic investments and the right financial partnerships. Check out the press release here - https://lnkd.in/d-DPjmpT At Pantomath Financial Services Group, over the last decade, we have empowered hundreds of companies to achieve transformative growth. With wings spread across every vertical in corporate finance and collaborating with organizations globally, we are dedicated to driving success through strategic asset management and tailored financial solutions, making the impossible happen. We are always warm to partner with more companies & organisations seeking growth and capital. Our expertise in managing assets under diverse frameworks, especially for family offices, ensures that we provide customized and effective strategies for every unique need. #AssetManagement #Investment #Growth #Strategy #StrategicInvestments #PreIPO

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What better way to demonstrate product-market fit than to learn about customer journeys before and after your platform? At Grip Invest, mass-affluent retail investors are migrating part of their portfolios from FDs to uniquely curated SDIs / Bonds manufactured by the platform. This ties into our thesis that the TAM for such a play is not the typically perceived 'alternatives' TAM but a cut of the humongous $2.5T FD market, which has never really been disrupted. A large set of retail customers understand now that there is a gap between FD returns and equity markets, and a risk-adjusted portfolio can be built here. Thanks Forbes India for this insightful piece. Congrats Nikhil Aashish Vivek for the tremendous execution.

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