'Investment value rose up to 4x': Sanjiv Goenka reveals son is handling VC fund

Sanjiv Goenka, Chairman of the RPSG Group, on Friday said that his son Shashwat Goenka will be launching a green energy venture capital segment focused on renewable energy firms in India. He added that his company’s existing venture capital fund focused on second-phase start-ups and FMCG companies have given four to five times the invested capital so far.

“We have started a venture capital fund for second-phase startups and FMCG companies. We made 9 or 10 investments, and in the time from we invested to now, all the companies we have invested in are trading at 4X or 5X in terms of value. We will now go out to accept funds from others. We are confident now that we have cracked this. We will also launch a green energy venture capital fund in the coming months,” said Goenka at India Today Conclave 2023.

He added that the present government has played a significant in terms of improving the business scenario for industries, startups and entrepreneurs. “The government led by PM Modi has made it possible for entrepreneurs and industries to think big. The ease of doing business is fantastic.”

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Talking about India's growth possibilities, Goenka said: "When the world around is crumbling, India is standing up. A few years ago, when you went outside, nobody gave Indians any respect. Today, when you go outside and say 'I am from India', you are given respect. Modiji has taught the world to respect India."