SBICAP Ventures Ltd. is an alternative asset manager based in India and is a wholly owned subsidiary of SBI Capital Markets Limited. It manages the Neev Fund.
Manav Bansal – CIO
Manav has been a private equity investor and investment banker for 20 years in Infrastructure, healthcare and technology.
Since 2013, Manav headed India operations for Brightlink Partners, Inc – an investment and advisory firm headed out of Tokyo, Japan and focusing on Indo-Japan investment in India and Asia.
From 2014 for two years, Manav was also a Partner at Brescon – a shop specializing in special situation asset advisory.
Earlier from 2006, Manav was the founding member of Macquarie’s infrastructure team in India which raised c. US1.2bn fund in partnership with IFC Washington and State Bank of India. Located in and heading the New Delhi office, Manav was the face of Macquarie to the government – leading consultations with line ministries and the Finance Ministry. Subsequently, as Director at SNC Lavalin India Infra fund (a subsidiary of Canada based SNC Lavalin), Manav originated and concluded private equity investment in road assetco and was helping to raise an India focused fund that had soft commitments of over US$ 200mn.
Manav has also worked at advisory/corporate finance at PwC and KPMG leading initiatives for corporate advisory, privatization, cross-border M&A, and policy advisory to the governments.
He is an MBA with graduate degree in engineering.
Akshay Panth, Principal Investment Officer
Akshay – Akshay has over 13 years experience in Private Equity, Principal Investments and Advisory roles with leading domestic and international investors. He started his career with the India Infrastructure Fund (a c.US$1Bn Infrastructure Fund managed by IDFC Alternatives) and has since worked with multiple private equity and principal investors. His previous experience includes working with CapAleph Private Equity, GMR Infrastructure, and MAPE Advisory Group.
At CapAleph, Akshay handled the Infrastructure Support Services and Education & Skill Development segments for the Fund. At GMR Infrastructure, Akshay was part of the Project Finance team working on the road sector where he submitted multiple bids to the NHAI. He has been part of teams that have invested over US$100Mn in the Indian infrastructure space.
Akshay holds a PGDM/MBA from the Indian Institute of Management, Lucknow and a Bachelor of Commerce degree from Bangalore University
Ashwin Suresh, Investment Associate
Ashwin has 7 years of experience in the financial services space working with Citi investment banking, Matrix Partners VC fund and TVS Infrastructure. He has been involved in many M&A and capital raising exercises in his previous stints.
Education: MBA from IIM Ahmedabad and BE (Electronics) from Pune University.
Abhishek Soni – Investment associate
“Abhishek has 4 years of work experience in the financial services and infrastructure space with EY investment banking & infrastructure services, and Vikram Solar. He has worked on transactions in the waste management, hospitality, logistics & warehousing and real estate space.
He has also pursued the Indian Chartered Accountancy and CFA (USA) course.
Education: MBA/PGDM from IIM Calcutta and BBA (Hons.) from St. Xavier’s College, Calcutta.”
Jai Shah, Investment Associate
Jai has over 10 years of experience across Fund Management, Strategic Advisory, Equity Research and Investment Banking working with Kitara Capital, AltFort Capital
He has executed various deals in the Private Equity and Investment Banking space
He has been also involved fund raising, fund formation and strategic advisory roles
Jai holds a bachelor’s degree in Commerce and is a MBA in Finance from Xavier Institute of Management and Research
Anjana Seshadri, ESG Officer
Anjana has more than 12 years of experience in the field of sustainability, ESG and impact measurement.
She leads the portfolio for ESG due-diligences, ESG actions and review, technical assistance, capacity building and programme results & monitoring.
In addition to an important ESG compliance function, she plays a key role in delivering additional value from systemic improvements across the portfolio. Prior to her role at the fund, she was leading the sustainability programme at IndusInd Bank.
She holds a Masters in Planning with specialisation in Environment from School of Planning & Architecture and a Bachelors in Architecture.
- Neev Fund was conceptualized and launched in 2015 by Hon. Prime Ministers of India (Mr.Narendra Modi) and UK (Mr. David Cameron) to catalyze investment in Indian states which have traditionally not received private investments. The output envisaged from this initiative was creating a model for sustainable development that can provide economic, social and environmental benefits and create jobs in the eight low income states of India.
- Since its inception, the Neev Fund has identified and successfully invested in ten portfolio companies in the target states. The Fund now almost completely committed and its investments into companies has led to significant impact at the grassroot level. The Neev Fund portfolio companies employ over 6,000 people and have demonstrated a waterfall effect on the value chain that the companies operate in.
- Established as a contributory trust in 2014 Neev Fund is a INR 5,040 million fund focused on making investments in 8 of the low income states in India i.e Rajasthan, Madhya Pradesh, Uttar Pradesh, Bihar, Chattisgarh, Jharkhand, Odisha and West Bengal. The primary objective of the Neev Fund is to create sustainable development which will provide economic, social and/or environmental benefits and create jobs in the target states. The Fund is registered with he Securities and Exchange Board of India (“SEBI”) as a Category I Alternative Investment Fund – Infrastructure Fund (“Category I Infra AIF”) under the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012 (“AIF Regulations”) The sponsor and investment manager of the Fund is SBICAP Ventures Limited.
- The Fund has raised capital commitments from State Bank of India (“SBI”), the Department of International Development – United Kingdom (“DFID”) and Small Industries Development Bank of India (“SIDBI”) as the contributors of the Fund and from SBICAP Ventures Limited as its Sponsor.