The Securities and Exchange Board of India (Sebi) has reconstituted its Alternative Investment Policy Advisory Committee (AIPAC) for the second time since its inception in 2015. The 20-member committee had expanded to 25 in 2022 and now comprises 22 members.
Janmejaya Sinha, chairperson of Boston Consulting Group (BCG) in India, replaced Narayan Murthy as the chair of AIPAC. The committee now includes prominent industry leaders such as Rajan Anandan, managing director at Peak XV Partners; Rajiv Raghunandan, partner at Arali Ventures; Vineet Rai, chairman of Aavishkar Group; Shweta Rajpal Kohli, President and CEO of Startup Policy Forum; and Jiju Vidyadharan, senior director at Crisil Intelligence. Sebi representatives Aparna Thyagarajan, chief general manager, and Ruchi Chojer, executive director, also join the committee.
“The committee will identify and address regulatory and market hurdles, recommend measures to deepen the alternative investment and startup industry, and guide Sebi on areas requiring cross-regulatory coordination or policy intervention,” a Sebi note said.
One of the committee’s immediate focuses is on onboarding more accredited investors. The regulator aims to incentivize investors to become accredited while providing greater avenues for funds with a higher number of qualified investors. India ranks sixth globally and third in Asia in terms of Ultra-High Net Worth Individuals (Ultra-HNIs), which supports the rapid growth of Alternative Investment Funds (AIFs). |
